Dengvaxia, manufactured by French pharmaceutical giant Sanofi, secured its first regulatory approval in Mexico a fortnight ago and is currently being reviewed by around 20 countries in Asia and Latin America.
It is hoped the drug could eventually help prevent millions of deaths from dengue, the world's fastest-growing mosquito-borne disease.
The World Health Organization says as many as 400 million people are infected worldwide every year, and two-thirds are in Asia.
"It's a major step in the prevention of dengue and for public health," Olivier Charmeil, head of Sanofi's vaccines division, said in a statement.
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Clinical tests -- carried out on 40,000 people from 15 countries -- have found Dengvaxia can immunise two-thirds of people aged nine years and older, rising to 93 percent for the more severe form of the disease, dengue haemorrhagic fever.
It was also found to reduce the risk of hospitalisation by 80 percent.
Dengue can trigger a crippling fever, along with muscle and joint pain. There is no known cure, and children are at particular risk.