The United States had another near-record peak in coronavirus cases, with more than 71,000 recently reported cases bringing the country’s total to 3.5 million cases, prompting an increasing number of large corporations to impose masking on their establishments.
The global pandemic overtook 13.5 million cases on Thursday, with more than 584,000 deaths, proof of the acceleration of the outbreak in recent weeks. As the decline of the northern hemisphere approaches, concerns about a second wave arise. Not far from the United States are Brazil and India, and the latter reports another record day with more than 32,000 cases.
As expectations grow that a vaccine can be implemented sooner rather than later, pharmaceutical companies have appeased uneasy investors to advance the search for a treatment, which in turn has fueled hopes that a vaccine may emerge. candidate before early 2021. Investors received encouraging news about this Moderna (MRNA) week, which plans to begin its final testing phase by July 27.
In a earnings call Thursday morning, Johnson & Johnson (JNJ) Chief Financial Officer Joseph Wolk said a second wave is unlikely to be as harmful as the first wave, as there are better treatment protocols, possible therapies, better tests and adequate equipment.
The drug giant is one of the leading candidates in the global vaccine race. JNJ’s Wolk told Yahoo Finance in an interview that JNJ has had “great success” with a vaccine and plans to start human trials next week, with phase 3 scheduled for September.
Advances in the search for a cure may not come soon enough, as the COVID-19 victim count continues to rise. Critical levels of hospitalizations and bed use in the ICU are now seen in many states, primarily in the Sun Belt, as well as in some Midwestern states.
Meanwhile, the pandemic continues to put pressure on the global economy and lowered expectations for a strong US rebound. Despite some big companies that have challenged the worst effects of the virus, jobless claims on Thursday showed that the job market remains in crisis with more than 50 million out of work.
Abbott Laboratories (ABT), which has been a major player in the US response with five coronavirus tests that received FDA emergency use authorization, experienced rapid growth in the last quarter, according to CEO Robert Ford. .
Demand for COVID-19 tests raised sales by 7%, with molecular diagnostics 241% and rapid diagnostics 11%. Sales of all COVID-19 tests totaled $ 615 million in the second quarter, Abbott said.
People protest against mandates to wear masks amid the outbreak of coronavirus disease (COVID-19) in Austin, Texas, USA, June 28, 2020. REUTERS / Sergio Flores TPX IMAGES OF THE DAY
Wearing masks is the new normal
While there is no federal mandate or enforcement strategy for wearing masks in public places, companies have taken more important steps to order the masks in their stores. Walmart (WMT) announced such a move on Wednesday, followed by CVS Pharmacy (CVS) and Target (TGT) on Thursday. Last month, Starbucks called employees and customers to wear masks in their cafes.
The move comes as some states struggle to implement or impose masking, despite numerous calls for Americans to adopt the strategy in recent months, a position led by health professionals who use social media to promote adoption of masks.
The CDC recently recommended using masks as a way to reduce the spread, after publishing some case studies in which the use of masks helped contain new infections. But the White House coronavirus task force and other federal officials have so far avoided calls for a national standard.
However, some criticize the lack of masks in the US compared to other reclaimed regions, especially Asia, as a reason behind the current resurgence.
In an interview with JAMA earlier this month, Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said that much of the congregation happened without masks, “which is so highly predictable that you will get into trouble.”
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