AstraZeneca said the first doses were released Wednesday and vaccinations will begin early in the new year. The rollout comes amid a dramatic rise in the number of coronavirus cases in the UK.
“This regimen has been shown in clinical studies to be safe and effective in the prevention of symptomatic Covid-19, with no severe cases and no hospitalization more than 14 days after the second dose,” said AstraZeneca.
AstraZeneca has pledged to deliver hundreds of millions of doses to low- and middle-income countries, and to deliver the non-profit vaccine to those countries forever.
The vaccine is significantly cheaper than other approved vaccines and much easier to transport and distribute than its rivals. Unlike the vaccines developed by Moderna and Pfizer, the AstraZeneca offering does not need to be stored at super cold temperatures.
They make tons 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 by 2021 on an ongoing basis.
In comparison, Pfizer expects to produce as many as 50 million doses of vaccine by 2020 and up to 1.3 billion doses by 2021. Moderna said last month it is on track to produce 500 million to 1 billion doses next year.
The richest countries in the world have already reserved a great deal of Pfizer and Moderna’s capacity. That makes the AstraZeneca vaccine even more important for emerging 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 the AstraZeneca shot.
“The efficacy of the Oxford vaccine is … the most encouraging sign to date that India has a route to ending its Covid-19 epidemic and the social distancing that continues to weigh on the economy,” Capital Economics analysts wrote. in a recent study. Note.
According to media reports, India, which is one of the world’s largest vaccine manufacturers, could approve the AstraZeneca vaccine on Wednesday. Doses are made in the country by the Serum Institute of India.
One caveat: The team that developed the AstraZeneca vaccine previously said it had an “average effectiveness of 70%”, with one dosing regimen showing 90% effectiveness. That’s not as good as Pfizer and Moderna.
Sears dies a silent, invisible death
Once the largest retailer in the United States through the 1980s, the company that now owns the Sears and Kmart chains came out of bankruptcy less than two years ago. It avoided another trip to bankruptcy court this year, as the Covid-19 pandemic bankrupted some rival chains.
But avoiding bankruptcy is not a sign of health, my CNN Business colleague Chris Isidore reports. The company has made little effort to revitalize stores, increase sales or redirect its failing businesses.
The collapse of the commercial real estate market may be another reason why the company has not gone bankrupt this year. Sears would likely find few if any suitable offers for its assets.
“Everything is up for grabs. But of course there’s no market for department stores,” said Mark Cohen, director of retail studies at Columbia University and former director of Sears. “They are, for all intents and purposes, ready.”
With no viable exit strategy, both Sears and Kmart die slowly, quietly. They close stores where possible and list virtually all other locations with commercial real estate agents.
How this could end: Once the commercial real estate market improves and new tenants can be found for their remaining stores, experts say Sears will come under more pressure to close the chains.
“Sears is waiting for the market to improve,” said Neil Saunders, general manager and retail analyst at research firm GlobalData.
Making career moves in 2021
If 2020 made you feel like you’ve only done water at work, let’s re-aim your career for the new year.
Think big, plan small: It’s okay to make big changes to your career, but break the goal down into smaller steps. Hitting the smaller goals will keep you motivated and stay on track.
Jump-start your networking game: love it or hate it, networking is important to career success. Search for virtual events to meet people in your current field (or your dream profession). To make the process less clunky, one expert recommended having a 30 second elevator pitch ready, as well as some go-to questions to ask new people.
Restore boundaries: Many of us still have to work from home for at least a few more months, so let’s take the time to restore boundaries between work and life. Set boundaries with your employer, family and (ahem) yourself by being clear when you are on and off the clock.
Next one
The European Union and China are expected to announce that they have reached an investment deal addressing issues such as market access.
Also today: The U.S. Energy Information Administration releases a report on crude oil inventories at 9:30 a.m. ET.
Available tomorrow: Data on unemployment claims will give investors a final reading on the U.S. job market in 2020.