AstraZeneca said the first doses were released on Wednesday and that vaccinations will begin at the beginning of the new year. The launch comes amid a dramatic increase in coronavirus cases in the UK.
“This regimen has been shown in clinical trials to be safe and effective in the symptomatic prevention of Covid-19, without severe cases and without hospitalization more than 14 days after the second dose,” said AstraZeneca.
AstraZeneca has pledged to provide hundreds of millions of doses to low- and middle-income countries and deliver the vaccine for nonprofits to those nations in perpetuity.
The vaccine is significantly cheaper than others that have been approved and much easier to transport and distribute than its rivals. Unlike the vaccines developed by Moderna and Pfizer, the AstraZeneca offer should not be stored at very cold temperatures.
Take lots of doses: AstraZeneca says it is working with partners, including the Serum Institute of India, to build a production capacity of up to 3 billion doses in 2021 on an ongoing basis.
For comparison: Pfizer expects to produce up to 50 million doses of vaccine in 2020 and up to 1.3 billion doses in 2021. Moderna said last month that it is about to produce 500 million to 1 billion doses. next year.
The richest countries in the world have already reserved a large part 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 ordered the vaccines sold by Pfizer and Moderna, but expects to receive hundreds of millions of doses of the AstraZeneca shot.
“The effectiveness of the Oxford vaccine is … the most encouraging sign that India has a way to end its Covid-19 epidemic and the social distance that continues to weigh on the economy,” Capital Economics analysts wrote in a recent research note.
India, which is one of the world’s largest vaccine manufacturers, could approve the AstraZeneca vaccine as early as Wednesday, according to media reports. Doses are made in the country by the Serum Institute of India.
One word of warning: The team that developed the AstraZeneca vaccine previously said it has an “average efficacy of 70%”, with a dosing regimen showing 90% efficacy. It’s not as good as Pfizer and Moderna.
Sears dies a quiet and invisible death
Once the largest retailer in the United States arrived in the 1980s, the company that now owns the Sears and Kmart chains went bankrupt less than two years ago. He avoided another trip to bankruptcy court this year as the Covid-19 pandemic forced some rival chains to give up business.
But avoiding bankruptcy is not a sign of health, says my CNN Business colleague Chris Isidore. The company has made little effort to revitalize stores, increase sales or return its business to failure.
The collapse of the commercial real estate market may be another reason why the company did not go out of business this year. Sears would probably find few suitable offers for its assets, if they existed.
“Everything is ready. But of course there is no market for department stores,” said Mark Cohen, Columbia University’s director of retail studies and a former Sears executive. “They are made of all intentions and purposes.”
Without a viable exit strategy, both Sears and Kmart are slowly dying. I close stores where possible and list virtually all other locations with commercial real estate brokers.
How to end this: Once the commercial real estate market improves and new tenants can be found for the remaining stores, Sears will be under more pressure to close the chains, according to experts.
“Sears is waiting for the market to be more favorable,” said Neil Saunders, general manager and retail analyst at research firm GlobalData.
The career moves to 2021
If 2020 made you feel that all you did was step on water at work, let’s make your career the goal for the new year again.
Think big, plan your little one: it’s good to want to make huge changes in your career, but break the goal into smaller steps. Achieving smaller goals will motivate you and keep you on track.
Start the network game: Love it or hate it, the network is important for career success. Look for virtual events to meet people in your current field (or dream profession). To make the process less awkward, an expert recommended preparing a 30-second pitch for the elevator, as well as a few questions to ask new people.
Restore the boundaries: many of us still have at least a few months of work at home, so let’s take the time to restore the boundaries between professional and professional life. Set boundaries with your employer, family, and (ahem) yourself, being clear about when you are active and out of hours.
It follows
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 publishes a report on crude oil stocks at 9:30 am ET.
Coming tomorrow: jobless claims data will give investors one last read on the US labor market in 2020.