AstraZeneca said the first doses will be released on Wednesday and that vaccinations will begin early in the new year. The launch comes amid a dramatic increase in coronavirus cases in the UK.
“This treatment has been shown in clinical trials to be safe and effective in preventing symptomatic Covid-19, without severe cases and no hospitalizations more than 14 days after the second dose,” AstraZeneca said.
AstraZeneca has promised to deliver hundreds of millions of doses to low- and middle-income countries and to deliver the vaccine to these countries on a non-profit basis.
The vaccine is significantly cheaper than others that have been approved, and much easier to transport and distribute than its competitors. Unlike the vaccines developed by Moderna and Pfizer, the AstraZeneca offering does not need to be stored at super-cold temperatures.
They make many doses: AstraZeneca says it is working with partners, including the Serum Institute of India, to build production capacity of up to 3 billion doses in 2021 on an ongoing basis.
By comparison, Pfizer expects to produce as many as 50 million doses of vaccine by 2020 and up to 20 billion doses in 2021. Moderna said last month that it was on track to produce 500 million to 1 billion doses next year.
The richest countries in the world have already offered much of the capacity that Pfizer and Moderna offer. This makes the AstraZeneca vaccine even more important for developing economies.
Take India for example. Asia’s third – largest economy has not ordered the vaccines sold by Pfizer and Moderna, but is expected to receive hundreds of millions of doses of AstraZeneca shot.
“The effectiveness of the Oxford vaccine is … the most encouraging sign yet that India has a way to end its Covid-19 epidemic, and the social distance that the economy continues to weigh,” Capital Economics analysts said in ‘ wrote a recent research. comment.
India, which is one of the world’s largest vaccine manufacturers, could approve the AstraZeneca vaccine as early as Wednesday, according to media reports. Dosage is made in the country by the Serum Institute of India.
One caveat: the team that developed the AstraZeneca vaccine earlier said it has an “average efficacy of 70%”, with one dosing regimen showing an effectiveness of 90%. It’s not quite as good as Pfizer and Moderna.
Sears dies a silent, invisible death
Once the United States’ leading retailer through the 1980s, the company that now owns the Sears and Kmart chains emerged from bankruptcy less than two years ago. This avoids another trip to the bankruptcy court, as the Covid-19 pandemic has chased some competing chains out of pocket.
But avoiding bankruptcy is not a sign of health, reports my colleague Chris Isidore of CNN. The company made little effort to refurbish stores, increase sales or turn its failed business around.
The collapse of the commercial real estate market could be another reason why the company did not get into business this year. Sears is likely to find few – if any – suitable offers for its assets.
“Everything is at stake. But of course there is no market for department stores,” said Mark Cohen, director of retail studies at Columbia University and former CEO of Sears. “They are, for all purpose and purposes, ready.”
Sears and Kmart are dying slowly and quietly without any viable exit strategy. They close stores wherever possible and list virtually all other places at commercial brokers.
How it could end: Once the commercial real estate market improves and new tenants can be found for their remaining stores, Sears will, according to experts, have more pressure to close the chains.
“Sears offers time until the market is conducive,” said Neil Saunders, managing director and retail analyst at research firm GlobalData.
Career moves to make in 2021
If in 2020 you feel like you’re just stepping on water at work, let’s make your new career the goal for the new year.
Think big, plan small: it’s good if you want to make a big change in your career, but the goal has to be broken down into smaller steps. Achieving the smaller goals will motivate you and keep you on track.
Start your networking game: Like it or hate it, networking is important for career success. Look for virtual opportunities to meet people in your current field (or your dream profession). To make the process less awkward, one expert recommended having a 30-second elevator ready, as well as some questions to ask new people.
Setting Boundaries Again: Many of us have at least a few more months to work from home, so let’s take the time to re-establish work boundaries. Set boundaries with your employer, family and (ahem) yourself by being clear when you are up and down.
Following
The European Union and China are expected to announce that they have reached an investment deal that addresses issues such as market access.
Also today: The U.S. Energy Information Administration releases a report on the crude oil stockpile at 9:30 p.m. ET.
Come tomorrow: Unemployment claims data give investors one last reading on the US labor market in 2020.