European stock markets have fallen after Moderna boss announces doubts over vaccine effectiveness against the new Omicron variant.
Stephane Bancel told the Financial Times that he thought there would be a "material drop" in vaccine effectiveness. The new Covid variant was first discovered in South Africa on November 9. Read more: It has resulted in new restrictions in the UK to help battle its spread including the return of mandatory face coverings and PCR test requirements for people entering the country.
Mr Bancel has predicted that current vaccines will be less effective against the Omicron variant and that it could be months until drugs companies can produce an updated vaccine. "There is no world, I think, where [the
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