AstraZeneca takes $80M hit after CDC rules nasal spray vaccines ineffective

After the CDC announced today that nasal spray vaccines are ineffective in children and should not be used, AstraZeneca said it would have to take an $80 million inventory write-down on stocks of its nasal spray vaccine Flumist Quadrivalent, according to Reuters.

The CDC's ruling stems from U.S. data showing a noticeable drop in the efficacy of Flumist in children over the last three years. In 2014, the FDA recommended the spray vaccine over injectable flu vaccines, saying flumist was more effective.

According to a statement on AstraZeneca's website, the CDC's data contrasted with the company's own studies as well as data from public health authorities in other countries, which demonstrate that Flumist was 46-58 percent effective against flu strains during the 2015-2016 season. In 2015, U.S. sales of Flumist reached $206 million.

AstraZeneca is working with the CDC to better understand the agency's data and ensure the vaccine is available for eligible patients in future flu seasons. The company plans to continue distribution and use of the vaccine in other countries for the upcoming flu season, according to the statement.

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