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A vaccine is considered the best hope to break the cycle of deadly virus waves and severe restrictions across much of the world since COVId-19 first emerged in China late last year and unleashed devastation on the global economy.
A laboratory technician sorts blood samples inside a laboratory for a COVID-19 vaccine study at the Research Centers of America in Hollywood, Florida on August 13, 2020. Image: AFP.
WASHINGTON – The hugely promising results of a coronavirus vaccine trial on Tuesday fueled optimism around the world that humanity could be one step closer to defeating the worst pandemic in a century.
Some of the industries hardest hit by travel restrictions, social distancing and lockdowns bounced back in hopes that the world would return to normal, after pharmaceutical giant Pfizer and its German partner BioNTech announced Monday that their The vaccine candidate was 90 percent effective in preventing COVID-19.
A vaccine is seen as the best hope to break the cycle of deadly virus waves and severe restrictions across much of the world since COVID-19 first emerged in China late last year and unleashed devastation in the global economy. .
“Sectors bombarded like aviation, travel, entertainment, big oil … went back in time to 2019 with giant rallies,” said Jeffrey Halley, senior market analyst at OANDA.
Wall Street and European markets soared after the announcement, and Asian markets continued the rally on Tuesday, with the worst-hit sectors such as airlines, travel, entertainment and energy getting a boost.
“We are a significant step closer to giving people around the world a much-needed breakthrough to help end this global health crisis,” said Pfizer President Albert Bourla.
The Pfizer and BioNTech candidate is one of over 40, but no other has made similar claims about efficacy.
The companies said they could overcome the final hurdles for a US deployment later this month and could supply up to 50 million doses globally this year and up to 1.3 billion next.
The scientific community reacted positively. American expert Anthony Fauci described the results as “extraordinary” and the head of the World Health Organization, Tedros Adhanom Ghebreyesus, called the news “encouraging.”
But others noted that data from the ongoing trial was still needed for their review, including the ages of the participants.
The Pfizer candidate uses the “messenger RNA” method to fight the virus, but one of the main disadvantages of such vaccines is that they must be stored in specialized freezers rather than the refrigerator-level temperatures required for other types of prophylactics.
Experts have raised concerns about the ability of poorer nations, especially in hot climates, to establish secure supply chains for such a vaccine.
There was also bad news. Brazil’s health regulator announced Monday that it had suspended clinical trials for a vaccine developed in China, one of the most advanced candidates, after an “adverse incident” involving a voluntary recipient.
Its manufacturer Sinovac said it was confident in the safety of the vaccine.
‘A VERY DARK WINTER’
The coronavirus has infected about 51 million people worldwide, with more than 1.2 million deaths.
The United States remains the worst affected country with more than 10 million cases and nearly 240,000 deaths, and the pandemic was one of the main problems for voters in this month’s presidential election.
Joe Biden, who had criticized President Donald Trump’s handling of the crisis, spared no time in announcing a Covid-19 task force after being declared the winner of the election.
“We are still facing a very dark winter,” he said. “The bottom line: I will spare no effort to reverse this pandemic once we swear.”
Trump had repeatedly clashed with experts in his own administration, often refusing to endorse restrictions or even wearing a mask in public. After Pfizer’s announcement, he claimed, without proof, that the news was delayed until after the election to damage him.
There was a breakthrough when the US Food and Drug Administration on Monday granted emergency approval to a synthetic antibody treatment for COVID-19 developed by pharmaceutical company Eli Lilly.
Bamlanivimab, which has been shown to reduce the risk of hospitalization and emergency room visits, is the first major drug to be approved that was designed specifically for the coronavirus.
‘OUT OF CONTROL’
News about vaccines will be of particular relief to people in Europe, the current focal point of the pandemic and the region subject to the most widespread restrictions.
Italy was approaching a total lockdown, and experts warned of pressure on hospitals.
“There is no doubt that the situation is largely out of control,” said Massimo Galli, head of the infectious diseases department at Milan’s Sacco hospital.
Grim news continued to arrive elsewhere, with Russia again breaking its record for daily infections on Monday.
Hungary is now one of the worst hit countries in terms of deaths proportional to its population, and the government announced new national restrictions that will take effect on Wednesday.
Meanwhile, Portugal has entered a state of emergency that will see the majority of the population taxed with curfews.
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