World Coronavirus Dispatch: EU vaccine makers seek immunity from lawsuits

Morgan Stanley turns cautious on bonds, why globalisation will survive, ozone's effectiveness in neutralising Covid, and other pandemic-related news across the globe


The European pharmaceutical industry’s vaccines lobby has pushed the EU for exemptions that would protect its members from lawsuits if there are problems with any new coronavirus vaccines, according to people with knowledge. The pandemic has compressed into months vaccine research and development that can take years. Some potential vaccines are already at the phase-three testing stage — the last step before they come to regulators for approval. At the same time, governments around the world have poured cash into research and development to try to save lives and prevent economically crippling lockdowns. Read more here

Let’s look at the global statistics: 


Total Confirmed Cases: 23,904,325


Change Over Yesterday: 246,775


Total Deaths: 819,612


Total Recovered: 15,584,680

Nations hit with most cases: US (5,779,371), Brazil (3,669,995), India (3,234,474), Russia (963,017) and South Africa (613,017)

Source: Johns Hopkins Coronavirus Research Center

China feels ‘singled out’ by australia push for Covid-19 inquiry: China feels unfairly “singled out” by Australia’s push for an inquiry into the origins of Covid-19, with a top diplomat in the country suggesting Prime Minister Scott Morrison’s government was helping the US attack Beijing. China’s deputy head of mission to Australia noted Covid-19 was first identified in China but scientists must still report their findings on its origin. Read more here ()

Morgan Stanley investment sees pain for credit on glut of supply: The firm has turned cautious on corporate bonds, given all the good economic news that’s already priced in. However, it doesn’t expect a major selloff, and would buy investment-grade credit if spreads widened by 0.25 percentage point. Read more here

Japan researchers say ozone effective in neutralising coronavirus: Scientists at Fujita Health University told a news conference they had proven that ozone gas in concentrations of 0.05 to 0.1 parts per million (ppm), levels considered harmless to humans, could kill the virus. The experiment used an ozone generator in a sealed chamber with a sample of coronavirus. Read more here

Australian coronavirus antibody therapy aims for trial in early 2021: Australian researchers hope to start human trials of a coronavirus antibody therapy in early 2021, while a large-scale trial of a vaccine could begin by the end of this year, scientists said on Wednesday. The research targets came as the country’s virus hotspot, Victoria state, recorded its second-most deadly day of the pandemic with 24 deaths. Read more here

Former Maldives president Gayoom tests positive for Covid-19: The former president of the Maldives, Maumoon Abdul Gayoom, said he had tested positive for Covid-19, as the tourist-dependent island nation reports a pick-up in cases since re-opening its borders last month. The 81-year-old former president was one of Asia’s longest serving leaders, having ruled the Maldives for 30 years. Read more here

Kazakhstan says it has secured supplies of Russian Covid-19 vaccine: Kazakhstan has signed a deal to get supplies of Russia’s first potential Covid-19 vaccine once clinical trials are complete. The government did not say how many doses of the vaccine it planned to buy and at what price. It said the vaccine would be made available to at-risk Kazakh citizens free of charge. Read more here

Buyout groups team up in €13bn battle for Italy’s Serie A: Private equity groups CVC Capital Partners and Advent International have teamed up for a €1.3bn bid to acquire a minority stake in Italy’s Serie A football competition, as clubs near a decision on whether to bring outside investors into one of Europe’s biggest leagues.  Read more here

Specials

University of Cambridge won funding to start trials for a DNA-based vaccine

Scientists from the University of Cambridge won funding from the UK government to start trials for a DNA-based vaccine that aims to protect against multiple coronaviruses. The government has invested 1.9 million pounds ($2.5 million) to develop the shot, with the researchers planning to begin phase I trials in the autumn. The team aims to use genetic sequences of other known coronaviruses to create one vaccine that goes beyond Covid-19 to fight related diseases such as Middle East respiratory syndrome, or MERS. More than 30 Covid vaccines are currently in clinical trials, with at least 140 more at the preclinical stage. Read more here

Three-decade economic boom comes to a sudden halt in Vietnam: 
For the past three decades, Vietnam has known only good -- or great -- economic news. The nation’s consistent growth as an exporter, propelled by Communist leaders who began embracing market-oriented policies in the late 1980s, pushed many into the middle class. The coronavirus pandemic changed all that. With garment companies seeing orders slashed and other sectors hit with sudden export declines, Vietnam’s workers are enduring the downside of being tethered to the global economy. The economic slowdown in the U.S. and other markets Vietnam depends on for growth is being felt on the streets of Ho Chi Minh City and Hanoi, as well as in villages and tourist centers. Read more here

Opinion

 

Covid-19 proves globalisation is not dead: 
Covid-19 will not kill globalisation. Rather, it will accelerate underlying trends, compressing into 2020 a transformation in flows across national borders that would have taken years to emerge. As individuals and companies move online, national borders become less relevant. Virtual meetings are substituting for travel and physical meetings, with their greater efficiency leading to higher levels of engagement. This increased digital connectivity facilitates the rapid flow of ideas, the most influential dimension of globalisation. The scientific race to stop Covid-19 and find a vaccine has encouraged unprecedented collaboration. Greater global awareness is evident in the intense interest in the march of Covid-19 and spread of the Black Lives Matter protests to five continents. Read more here