FDA pulls authorization for GSK-Vir's COVID therapy as BA.2 cases rise

The U.S. health regulator said on Tuesday GlaxoSmithKline and Vir Biotechnology's antibody therapy was no longer authorized as a COVID-19 treatment, with data suggesting it was unlikely to be effective against the dominant Omicron sub-variant in the country. The move by the agency, which had already pulled its authorization for the sotrovimab therapy in much of the U.S. northeast last month, sent shares in Vir Biotechnology 11.5% lower. The highly contagious BA.2 coronavirus sub-variant is estimated to make up about three of every four COVID-19 cases in the United States, according to the latest government data