AstraZeneca said the first doses would be released on Wednesday and vaccinations will begin early New Year. The launch comes amid a dramatic wave of coronavirus cases in the UK.
“This regimen was demonstrated in clinical trials to be safe and effective in preventing symptomatic Covid-19, with no severe cases or hospitalizations more than 14 days after the second dose,” AstraZeneca said.
AstraZeneca is committed to supplying hundreds of millions of doses to low- and middle-income countries and delivering the nonprofit vaccine to these nations in perpetuity.
The vaccine is significantly cheaper than others that have been approved and is much easier to transport and distribute than its rivals. Unlike vaccines developed by Moderna and Pfizer, the AstraZeneca offering does not need to be stored at very cold temperatures.
They are making many doses: AstraZeneca says it is working with partners, including the Serum Institute of India, to build a manufacturing capacity of up to 3 billion doses by 2021 on an ongoing basis.
For comparison: Pfizer expects to produce up to 50 million doses of vaccine by 2020 and up to 1.3 billion doses by 2021. Modern said last month that it is on track to manufacture 500 to 1 billion doses. next year.
The richest countries in the world have already reserved much of the capacity offered by Pfizer and Moderna. This makes the AstraZeneca vaccine even more important for developing economies.
Take India, for example. The third Asian economy has not ordered the vaccines sold by Pfizer and Moderna, but they are expected to receive hundreds of millions of doses of AstraZeneca’s shot.
“The effectiveness of the Oxford vaccine is … the most encouraging sign that India has a route to end its Covid-19 epidemic and the social distancing that continues to weigh on the economy,” they wrote Capital Economics analysts in a recent research note.
India, which is one of the largest vaccine manufacturers in the world, could approve the AstraZeneca vaccine as early as Wednesday, according to media reports. The Serum Institute of India makes doses in the country.
One caveat: the team that developed the AstraZeneca vaccine previously said it had “an average efficacy of 70%,” with a dosing regimen showing 90% efficacy. This is not as good as Pfizer and Modern.
Sears is dying of an invisible and silent death
Once the major U.S. retailer arrived during the 1980s, the company that owns the Sears and Kmart chains went bankrupt less than two years ago. This year he avoided another trip to bankruptcy court this year, as the Covid-19 pandemic forced some rival chains to abandon the business.
But avoiding bankruptcy is not a sign of health, reports my CNN business partner Chris Isidore. The company has made little effort to boost stores, increase sales or turn around its failed business.
The collapse of the commercial real estate market may be another reason why the company has not stopped working this year. Sears would probably find few (if any) suitable offers for its assets.
“Everything is ready. But of course, there’s no market for department stores,” said Mark Cohen, Columbia University’s director of retail studies and a former Sears executive. “They are made, for all purposes and purposes.”
Without a viable exit strategy, both Sears and Kmart die slowly and quietly. They close stores when possible and list virtually all other locations with commercial real estate brokers.
How can this end: Once the commercial real estate market improves and new tenants can be found in the remaining stores, Sears will have more pressure to close the chains, experts say.
“Sears is waiting its time until the market is more conducive,” said Neil Saunders, CEO and retail analyst at research firm GlobalData.
He will pursue a professional career in 2021
If in 2020 it made you feel like all you did was step on water at work, let’s make the resumption of the career the goal of the new year.
Think big, plan little – it’s okay to want to make huge changes to your career, but break the goal into smaller steps. Achieving the smallest goals will motivate you and keep you on the right track.
Start your networking game: love it or hate it, networking is important for professional success. Look for virtual events to meet people from your current field (or your dream profession). To help make the process less awkward, one expert recommended having a 30-second elevator ready, as well as some basic questions to ask new people.
Restoring boundaries: Many of us have at least a few more months of work at home, so we take the time to restore the boundaries of work and work life. Set boundaries with your employer, family, and (ahem) yourself by being clear when you’re on and off the clock.
Until next time
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 U.S. Energy Information Administration publishes a report on crude inventories at 9:30 a.m. ET.
From now until tomorrow: unemployment claims data will give investors one last read on the US labor market in 2020.