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FDA advisers votes 17-4 in favor of Pfizer vaccine. Approval imminent

  
Analysis, COVID-19

Panel votes on Pfizer vaccine

Panel votes on Pfizer vaccine
The vote was 17-4 with one abstention after an all day meeting. Call me crazy, but I would like to hear from the four people who voted against it.
The vote is for an emergency use authorization. Expect the US to approve the vaccine immediately, or tomorrow at the latest. Vaccinations will begin on the weekend or Monday depending on CDC approving protocols for who gets it first (the elderly and long-term care workers).
Some market participants see the approval as a risk-positive step but it should be wholly priced in. At the same time, I don’t see any kind of sell-the-fact trade here either.
The next candidate to go through this process will be from Moderna and that goes before the FDA committee on Dec 17.
Update: There’s some talk that the the ‘no’ voters might have been about 16-17 year olds and safety for them. The question was if the vaccine was safe for those 16 and older. The dissents might have been about those two years, which is not a big deal.

Heads up: Pfizer vaccine expected to gain FDA emergency use authorisation

  
Analysis, COVID-19

The FDA’s vaccine advisers will be meeting today on the matter

Pfizer
What follows should be a formality once the advice deems the vaccine to be fit and has met all the necessary criterion.
FDA commissioner, Dr. Stephen Hahn, mentioned this week that “our team has done their initial analysis, and we do feel that preliminarily that the success criteria have been met”.

 

After the approval by the UK, it will be extremely controversial – in either a good or bad way – if the VRBPAC rejects the Pfizer vaccine. That would be a major blow to risk sentiment if it were to happen.
In any case, as much as the approval should already be priced in, just be mindful that the headlines could still give the market a mini-jolt and what not later today.
The meeting will take place at 1400 GMT with the committee vote to take place some time in the afternoon. Here is the full agenda.

Johns Hopkins is reporting that US Covid cases has surpassed 15 million

  
Analysis, COVID-19

The next highest is India with 9.7 million cases

Johns Hopkins is reporting that the US Covid cases has surpassed 15 million. The number of deaths is 284K.

Meanwhile Pres. Trump has:
  • Appointed Kellyanne Conway to the Air Force board
  • Appointed Department of Transportation’s Chao and Manchester to the Kennedy Center Board.
  • The White House announced that the Tennis Pavilion on the grounds of the White House has been completed.
The next highest is India with 9.7 million casesJohns Hopkins is reporting that the US Covid cases has surpassed 15 million. The number of tests according to
  • The election results continue to be challenged by the White House with the Pres. pressuring Georgia and Pennsylvania governors to challenge the results.
  • Texas has sued four battleground states in Supreme Court over ‘unlawful election results’ in 2020 presidential race

US passed on opportunity to buy more Pfizer vaccine doses, may now have to wait until June

  
Analysis, COVID-19

Longer timeline for US vaccines hurts equity futures

Longer timeline for US vaccines hurts equity futures
The US purchased enough of the Pfizer vaccine to protect 50 million Americans but declined to buy even more doses in June, according to the NYT.
That means the country will move to the back of the line as it works to get enough for the entire country.
Ultimately, that may not matter because other vaccine candidate could be enough to vaccinate the rest of the country.
“We are confident that we will have 100 million doses of Pfizer’s vaccine as agreed to in our contract, and beyond that, we have five other vaccine candidates,” a spokeswoman for the Department of Health and Human Services said.
In a sign that the US may be scrambling for more, Trump tomorrow plans on Tuesday to sign an executive order “to ensure that United States government prioritizes getting the vaccine to American citizens before sending it to other nations.”
It’s not clear if that order carries any legal power.
A Fox report earlier today the vaccine could be authorized by the FDA as early as Friday.
In terms of the economics, 50m vaccines won’t be enough to achieve herd immunity though it will certainly protect many of the most-vulnerable. If the US can’t procure more doses before June — as this report says — it could potentially push back the timeline for a full reopening.
In markets, US equity futures are down 0.5%, likely as a result of this.

US coronavirus – Los Angeles announces a city-wide lockdown stay at home order

  
Analysis, COVID-19

Essential businesses only to remain open

 

  •  all travel including on foot, bicycle, scooter, motorcycle, auto or public transit is prohibited

 

US media reporting.

  • All residents within the city of Los Angeles were ordered to remain in their homes effective immediately
  •  previous “safer-at-home” order was withdrawn and superseded by the new one
  • Many residents were notified with an email and text alert from the city’s NotifyLA System Wednesday night
  • The city of Los Angeles sent out a text alert on Dec. 2, 2020.
  • People may lawfully leave their residences only to engage in defined essential activities.

Pfizer says US FDA and EU EMA decisions on authorisation expected this month as well

  
Analysis, COVID-19

Pfizer briefs after the UK MHRA authorises emergency-use supply for its coronavirus vaccine

Just one to take note in case we hear more from Pfizer during the next few weeks.

The pharmaceutical firm also confirms that companies are ready to deliver the first doses to the UK immediately. UK health secretary, Matt Hancock, is also out now saying that 50 hospitals are set up and waiting to accept this vaccine.
Adding that there will be big centers for vaccination that are also being set up now.
This is a positive development in the UK but the procedures in implementing all of this are going to be tedious. The vaccine rollout may begin next week but it will take time for the effect to be felt among the general public, especially if the distribution is in stages.
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