AstraZeneca said the first doses were released on Wednesday, and that vaccinations will start early in the new year. The startup comes amid a significant increase in coronavirus cases in the UK.
“This regimen has been shown in clinical trials to be safe and effective in preventing symptoms of Covid-19, with no serious cases and no hospitalization more than 14 days after the second dose,” AstraZeneca said.
AstraZeneca promised to supply hundreds of millions of doses to low- and middle-income countries, and to deliver the vaccine on a non-profit basis to those countries forever.
The vaccine is much cheaper than other approved vaccine, and much easier to transfer and distribute than its competitors. Unlike vaccines developed by Moderna and Pfizer, AstraZeneca’s offerings do not need to be stored in extremely cold temperatures.
They manufacture large quantities of doses: AstraZeneca says it is working with partners, including the Serum Institute of India, to build a manufacturing capacity of 3 billion doses in 2021 on a renewable basis.
For comparison: Pfizer expects to produce up to 50 million doses of the vaccine in 2020 and up to 1.3 billion doses in 2021. Moderna said last month it was on track to manufacture 500 million to 1 billion doses next year.
The world’s richest countries have already held much of the capacity offered by Pfizer and Moderna. This makes the AstraZeneca vaccine even more important for developing economies.
Take India, for example. Asia’s third largest economy has not requested the vaccines Pfizer and Moderna sell, but it is expected to receive hundreds of millions of doses of AstraZeneca.
“The effectiveness of the Oxford vaccine … the most encouraging sign yet that India has a path to end the Covid-19 epidemic and social distancing that continues to affect the economy,” analysts at Capital Economics wrote in a recent paper. Noticeable.
India, one of the largest vaccine manufacturers in the world, may approve AstraZeneca vaccine on Wednesday, according to media reports. Dosing is made in the country by the Serum Institute of India.
One caveat: The team that previously developed the AstraZeneca vaccine said it had an “average efficacy of 70%”, with one dosing regimen showing an efficacy of 90%. This is not as good as Pfizer and Moderna.
Sears dies a quiet, invisible death
Once the leading retailer in the US during the 1980s, the company that now owns the Sears and Kmart chains emerged from bankruptcy less than two years ago. She avoided another trip to bankruptcy court this year because the Covid-19 pandemic forced some competitive chains to shut down.
But avoiding bankruptcy is not a sign of health, says my CNN Business colleague Chris Isidore. The company made little effort to revitalize stores, increase sales, or change its failing business.
The collapse of the commercial real estate market could be another reason why the company hasn’t stopped operating this year. Sears will likely find few – if any – suitable offers for their assets.
“Everything is ready for acquisition. But of course, there is no supermarket market,” said Mark Cohen, director of retail studies at Columbia University and former CEO of Sears. “It was done, for all intents and purposes.”
With no viable exit strategy, Sears and Kmart are dying slowly and quietly. They close stores where possible and list almost all other locations with commercial real estate brokers.
How this might end: Once the commercial real estate market improves and new tenants can be found for their remaining stores, Sears will be under more pressure to close chains, according to experts.
“Sears is waiting for her time until the market becomes more favorable,” said Neil Saunders, managing director and retail analyst at research firm Global Data.
The profession moves to 2021
If 2020 made you feel like all you did was tread the water at work, let’s make re-igniting your career the New Year’s goal.
Think Big, Small Plan: It’s okay to want to make big changes in your career, but break the goal down into smaller steps. Achieving smaller goals will motivate you and keep you on the right track.
Start your own networking game: Love it or Hate it, Communication is important to career success. Find virtual events to meet people in your current industry (or dream profession). To help make the process less difficult, one expert recommended preparing a 30-second elevator speech, as well as some quick questions to ask new people.
Reset Boundaries: Many of us have at least a few more months off work at home, so let’s take the time to redefine work and life boundaries. Set boundaries with your employer, your family, and (important) yourself by being clear about when you are around the clock and outside.
The European Union and China are expected to announce that they have reached an investment agreement that addresses issues such as market access.
Also today: The US Energy Information Administration released a report on Crude Oil Stocks at 9:30 AM ET.
Soon tomorrow: The unemployment claims data will give investors a final reading of the US labor market in 2020.