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May
UK and U.S. agree on importance of global COVID vaccine rollout to end pandemic
Written by Nur Yasmin
British Prime Minister Boris Johnson and U.S. Secretary of State Antony Blinken agreed on the need for a global rollout of COVID-19 vaccines to end the pandemic, Downing Street said on Tuesday after the pair met in London.
"The Prime Minister and Secretary Blinken agreed that the global roll out of vaccines will be key to defeating the coronavirus pandemic," Johnson's office said in a statement.
"They underlined the importance of G7 work in this area, including efforts to increase international manufacturing capability." (Reuters)
May
Pfizer sees robust COVID-19 vaccine demand for years, $26 bln in 2021 sales
Written by Nur Yasmin
Pfizer Inc (PFE.N) on Tuesday raised its forecast for 2021 COVID-19 vaccine sales by more than 70% to $26 billion and said demand from governments around the world fighting to halt the pandemic could contribute to its growth for years to come.
The company said it expects to file for full U.S. approval of the vaccine in May for people over the age of 16, as it is now only authorized for emergency use. It also expects to hear soon from U.S. regulators on expansion of the vaccine's emergency use authorization (EUA) for children ages 12-15.
Revenue from the vaccine - developed with German partner BioNTech SE - is expected to account for more than one third of Pfizer's sales this year.
The forecast is based on contracts to deliver 1.6 billion vaccine doses this year. The company expects to sign more deals for this year and is in supply talks with several countries for 2022 and beyond.
"Based on what we've seen, we believe that a durable demand for our COVID-19 vaccine – similar to that of the flu vaccines – is a likely outcome," Chief Executive Albert Bourla said.
The two-shot vaccine was Pfizer's top-selling product in the first quarter. Expenses and profit from the vaccine are split 50-50 between Pfizer and BioNTech.
Given persistent infections globally and ongoing discussions with governments, Mizuho analyst Vamil Divan said the 2021 forecast could increase further and spill over to future years.
Daily vaccination rates for adults in the United States are off more than 25% since hitting a peak in mid-April. Authorization in children would expand the vaccine-eligible population by millions of people.
Pfizer said it expects to have safety and efficacy data for children ages 2-to-11 in September, when it plans to ask for further expansion of the EUA for that age group.
The company has also filed new data with U.S. regulators that would allow the vaccine to be stored at standard refrigerator temperatures for up to four weeks, up from five days currently.
Pfizer and BioNTech aim to produce up to 2.5 billion COVID-19 vaccine doses this year, 900 million of which are not yet included in the New York-based drugmaker's sales forecast.
If Pfizer sells that number of doses at similar prices, the vaccine's sales in 2021 could be more than 50% above the projected $26 billion.
Moderna Inc (MRNA.O) has forecast $18.4 billion in 2021 sales of its similar COVID-19 vaccine.
Pfizer expects to profit from the vaccine, while some drugmakers including Johnson & Johnson (JNJ.N) have said their vaccine will be sold on a not-for-profit basis until the end of the pandemic.
Pfizer aims to manufacture at least 3 billion doses of the vaccine next year. It also expects to have safety and immunogenicity data from a third booster dose of the vaccine in July.
Pfizer and BioNTech have published data showing impressive durability for their vaccine at least six months after vaccination. Still, Bourla said he believes regular boosters will be needed to maintain high levels of immunity, and governments around the world have started signing deals for the shots.
The COVID-19 vaccine generated $3.5 billion in revenue in the first quarter, exceeding analysts' estimates of $3.28 billion, according to Refinitiv data.
Total revenue for the quarter of $14.6 billion, topped analysts' forecasts of $13.5 billion.
It plans to boost R&D spending to fuel drug discovery using the messenger RNA technology in the COVID-19 vaccine. The company is developing two flu vaccines that are expected to enter clinical trials in the third quarter.
Pfizer shares were down slightly in afternoon trading. (Reuters)
May
U.S. Defense Secretary Lloyd Austin to attend Shangri-La Dialogue in Singapore
Written by Nur Yasmin
U.S. Defense Secretary Lloyd Austin will attend the Shangri-La Dialogue Asian security summit due to be held in Singapore next month, organisers said, after the annual meeting was cancelled last year due to the coronavirus pandemic.
This year's event, which is being arranged by the International Institute for Strategic Studies (IISS), is scheduled to take place from June 4–5.
"It marks the Secretary's first trip to Southeast Asia, and as well as delivering his on-the-record speech, he will also conduct bilateral and multilateral meetings on the sidelines of the summit," IISS said in an emailed statement.
The Shangri-La Dialogue has typically attracted top level military officials, diplomats and weapons makers from around the globe since its launch in 2002.
In his first significant policy speech, Austin said this week that the United States needs to prepare for a potential future conflict bearing little resemblance to "the old wars" that have long consumed the Pentagon.
Austin called for harnessing technological advances and better integrating military operations globally to "understand faster, decide faster and act faster." read more
Singapore is also aiming to host the World Economic Forum's annual summit in August after it was moved from its usual home in the Swiss ski resort of Davos over virus safety fears. (Reuters)
May
China calls for 'basic etiquette' after Philippine outburst
Written by Nur Yasmin
China urged the Philippines on Tuesday to observe "basic etiquette" and eschew megaphone diplomacy after the southeast Asian nation's foreign minister used an expletive-laced Twitter message to demand that China's vessels leave disputed waters.
The comments by Teodoro Locsin, known for occasional blunt remarks, follow Manila's protests over what it calls the illegal presence of hundreds of Chinese boats inside the Philippines' 200-mile Exclusive Economic Zone (EEZ). read more
In a statement, China's foreign ministry urged the Philippines to respect the nation's sovereignty and jurisdiction and stop taking actions that complicate the situation.
"Facts have repeatedly proved that microphone diplomacy cannot change the facts, but can only undermine mutual trust," it said.
"It is hoped that relevant people in the Philippines will comply with basic etiquette and their position when making remarks."
The ministry cited comments by Philippines President Rodrigo Duterte that differences between the countries on individual issues should not affect friendship and cooperation.
"China has always worked, and will continue to work with the Philippines, to properly resolve differences and advance cooperation through friendly consultations."
China claims almost the entire South China Sea, through which about $3 trillion of ship-borne trade passes each year. In 2016, an arbitration tribunal in the Hague ruled that its claim was inconsistent with international law.
"I won't plead the last provocation as an excuse for losing it; but if Wang Yi is following Twitter then I'm sorry for hurting his feelings but his alone," Locsin said on Twitter on Tuesday, referring to the Chinese government's top diplomat.
Duterte has reminded his officials that there is no room for cursing in the matter of diplomacy. "Only the President can cuss," his spokesman, Harry Roque, told a regular news conference. (Reuters)
May
Singapore tightens COVID-19 curbs as overseas virus variants emerge
Written by Nur Yasmin
Singapore announced on Tuesday tighter curbs on social gatherings and stricter border measures after recording locally acquired cases of coronavirus variants, including a more contagious strain first detected in India.
After reporting very few local infections for months, numbers have increased in the Asian trade and financial hub over the last week, mainly linked to an outbreak at a hospital. On Tuesday, it confirmed five new locally acquired cases.
The stricter measures, which will be effective from May 8, include extending checks on where incoming travellers have been to three weeks earlier, instead of two weeks currently.
All visitors with a recent travel history in higher risk countries and who arrive from Saturday onwards will also need to be ini quarantine for 21 days, instead of 14.
Social gathering will also be limited to five people, while indoor gyms and fitness studios will be shut.
The new measures amount to the tightest local restrictions since Singapore started easing curbs in the middle of last year after a partial lockdown.
Among infections detected in the latest COVID-19 cluster in a hospital, nine out of 40 cases had already been fully vaccinated.
"Because of vaccination, these cases are either asymptomatic or had mild symptoms, and none has required oxygen so far," said health minister Gan Kim Yong.
"Therefore vaccination remains an important tool to help lower the risk of infection and severe disease," he said.
The minister also said authorities could not rule out a return to a partial lockdown again, if the situation worsened.
Though Singapore's daily cases are only a fraction of the number being reported among Singapore's Southeast Asian neighbours, a jump in infections would be a setback for the Asian business hub, which has successfully contained its earlier outbreaks. (Reuters)
May
Myanmar's U.N. envoy tells U.S. lawmakers more sanctions needed
Written by Nur Yasmin
Myanmar's ambassador to the United Nations told the U.S. Congress on Tuesday that Washington should target the state-run Myanmar oil and gas company and a state-owned bank with sanctions.
Ambassador Kyaw Moe Tun, a representative of elected lawmakers who oppose Myanmar's military junta, also warned that the crisis triggered by a Feb. 1 coup in the Southeast Asian nation threatened regional security.
The Biden administration has denounced the coup and imposed sanctions on the generals who led it as well as some of their family members and businesses that provide them with revenue.
The Myanmar ambassador told the House Committee on Foreign Affairs that as well as the military-run Myawaddy and Innwa banks, the United States should slap sanctions on the state-owned Myanmar Foreign Trade Bank (MFTB) and Myanmar Oil and Gas Enterprise (MOGE).
MOGE operates offshore gas fields in joint ventures with international firms, including U.S.-based Chevron and France's Total, while MFTB conducts transactions in foreign currencies for Myanmar's government.
The Assistance Association for Political Prisoners (AAPP) advocacy group says security forces have killed at least 766 civilians since the coup, which sparked nationwide protests.
Some pro-democracy activists have traveled to Myanmar's mountainous borderlands to join armed groups fighting for ethnic autonomy, raising fears of a spiraling conflict.
“I wish to stress that Myanmar is not just witnessing another major setback to democracy, but also the crisis is threatening the regional peace and security," said Kyaw Moe Tun, who dramatically broke with the military junta in February, but has retained the country's seat at the United Nations. (Reuters)
May
Japanese journalist charged in Myanmar for spreading false news
Written by Nur Yasmin
A Japanese journalist detained in Myanmar last month has been charged with spreading false news, an official at the Japanese embassy in Yangon said on Tuesday, amid a crackdown on media since the military seized power three months ago.
Yuki Kitazumi, who had been picked up from his home by troops and taken into custody on April 19, is the first foreign journalist to be charged since the military ousted the elected government of Nobel Laureate Aung San Suu Kyi.
Kitazumi, who was being held at Insein Prison in Yangon, has been charged under section 505A of the penal code, which criminalises comments that could cause fear or spread false news and is punishable by up to three years in jail.
The Myanmar authorities have not supplied information on the details of the alleged offences, said a Japanese embassy official, who declined to be named.
A spokesman for the junta did not respond to calls asking for comment.
Kitazumi runs a media production company, Yangon Media Professionals, and used to be a journalist with the Nikkei business daily, according to his Facebook page and interviews with online media.
He was arrested previously in February while covering protests against the Feb. 1 coup but was released soon afterwards.
According to the Assistance Association for Political Prisoners activist group, 766 people have been killed by security forces since the coup and more than 3,600 remain in detention, including Suu Kyi.
Both the Japanese government and Japanese journalists have called for his release. (Reuters)
May
WHO chief Tedros plans to seek re-election - Stat News
Written by Nur Yasmin
Tedros Adhanom Ghebreyesus, director-general of the World Health Organization, plans to run for a second five-year term as the head of the agency, Stat News reported on Monday, citing a person familiar with the matter.
Tedros, as he is widely known, has been the public face of the WHO's efforts to grapple with the COVID-19 pandemic ever since the new SARS-CoV-2 virus emerged in the central Chinese city of Wuhan in late 2019.
In 2017, Ethiopia's Tedros became the first African to head the Geneva-based United Nations agency and made universal health care coverage his priority.
A spokesman for WHO said it could not comment on potential nominees. WHO's 194 member states may propose candidates until September, whose names are sent in sealed envelopes to the Governing Board chair - ahead of the election next year.
It is unclear at this point whether others will emerge to challenge Tedros for the five-year term, the Stat report said.
Diplomats told Reuters Tedros' support among African nations would be key to any re-election, while doubting he could count on support from his home country which nominated him last time.
They noted that Ethiopia's military accused him in November of supporting and trying to procure arms and diplomatic backing for Tigray state's dominant political party, which is fighting federal forces. Tedros has denied taking sides in the conflict in Ethiopia.
Tedros, whose global profile has risen dramatically during the pandemic, flew to Beijing in January 2020 for talks with President Xi Jinping to ensure its cooperation and sharing of information, just before declaring a worldwide health emergency.
The Trump administration accused Tedros and the WHO of being "China-centric" - allegations they rejected - and halted U.S. contributions while starting the process of leaving the agency. The Biden administration announced immediately after taking office in January that it would remain a member and fulfil its financial obligations while working on reforms. read more
Tedros distanced himself from the findings of a WHO-led mission this year, written jointly with Chinese scientists, that investigated the origins of the virus. The report issued on March 30 said the virus had probably been transmitted from bats to humans through another animal, and that a lab leak was "extremely unlikely" as a cause.
Tedros said that data had been withheld from the team and that the lab issue required further investigation. (Reuters)
May
U.S. approves massive solar project in California desert
Written by Nur Yasmin
The Biden administration on Monday said it has approved a major solar energy project in the California desert that will be capable of powering nearly 90,000 homes.
The $550 million Crimson Solar Project will be sited on 2,000 acres of federal land west of Blythe, California, the Interior Department said in a statement. It is being developed by Canadian Solar (CSIQ.O) unit Recurrent Energy and will deliver power to California utility Southern California Edison.
The announcement comes as President Joe Biden has vowed to expand development of renewable energy projects on public lands as part of a broader agenda to fight climate change, create jobs and reverse former President Donald Trump's emphasis on maximizing fossil fuel extraction.
"Projects like this can help to make America a global leader in the clean energy economy through the acceleration of responsible renewable energy development on public lands," Interior Secretary Deb Haaland said in the statement.
Crimson Solar will create 650 construction jobs but just 10 permanent and 40 temporary jobs in operations and maintenance for the 30-year life of the project, the statement said.
The project will include a battery storage system and will be sited on land designated for renewable energy development by the Desert Renewable Energy Conservation Plan, an agreement hatched between the state of California and the Obama administration that set aside areas for wind and solar projects. (Reuters)
May
WHO seeks to fill COVID-19 vaccine gap left by India suspending exports
Written by Nur Yasmin
The World Health Organization is seeking to fill the gap left in the COVAX dose-sharing programme by India suspending exports of AstraZeneca (AZN.L) doses and is in talks with donors including the United States, senior WHO officials said on Monday.
"In the next few months we do not expect Serum (Institute of India) to be able to supply the kind of (doses) originally predicted," WHO chief scientist Soumya Swaminathan told a news conference.
Bruce Aylward, a WHO senior adviser, said there was no firm date for resumption of Indian vaccine exports amid its COVID-19 crisis. (Reuters)