FDA green lights Moderna, Pfizer updated COVID-19 vaccines
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The FDA has approved and authorized the use of updated COVID-19 vaccines by Moderna (NASDAQ:MRNA) and Pfizer (NYSE:PFE)/BioNTech (NASDAQ:BNTX) for people aged six months or older for the fall vaccination season.
Shares of Pfizer and Moderna were down around 1% in afternoon trading following the announcement, which had been largely expected. BioNTech, which co-developed the Pfizer vaccine, saw its shares dip 2%. 
The agency said people five years or older can get a single dose of the vaccine, regardless of COVID-19 vaccination history. Children aged six months to four years who have not been previously vaccinated will be eligible to get up to three doses of the Pfizer/BioNTech vaccine or up to two doses of the Moderna vaccine.
Children aged six months to four years who have already been vaccinated for COVID-19 will be able to get up to two doses, depending on which vaccine they were previously administered, according to an FDA statement.
Both vaccines have been updated to target the Omicron variant XBB.1.5. Last week, Moderna and Pfizer said their respective vaccines appeared to be effective in protecting against another variant of concern, BA.2.86.
The FDA added that it believes COVID-19 vaccines may need to be updated annually like the seasonal influenza vaccine. 
The CDC is scheduled to meet on Tuesday to decide who should get the vaccine and under what circumstances. 
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