Archives of “Coronaviridae” tag

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US FDA grants orphan drug designation for potential Covid-19 treatment Remdesivir

  
  Analysis
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This will hasten use of the drug to combat coronavirus

  • OOPD provides incentives for sponsors to develop products for rare diseases
  • program enables the development and marketing of drugs, biologics, and medical devices for rare diseases
  • Orphan Drug Designation Program provides orphan status to drugs and biologics which are defined as those intended for the safe and effective treatment, diagnosis or prevention of rare diseases/disorders that affect fewer than 200,000 people in the U.S., or that affect more than 200,000 persons but are not expected to recover the costs of developing and marketing a treatment drug.
Remdesivir is a nucleotide prodrug that blocks a key enzyme needed for viral replication

US House and Senate negotiators have reached agreement on emergency coronavirus bill

  
  Analysis
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$8.3 billion to combat the coronavirus

The US House and Senate negotiators have reached an agreement on the emergency coronavirus bill. This according to House appropriations spokesman.

  • Total appropriations is for $8.3 billion to combat coronavirus
  • Bill to include 3 billion for research and development of vaccines, therapies and diagnostics
  • more than $300 million to help pay vaccine cause for those who cannot afford it
The House to vote on the funding today.
Meanwhile the IMF’ Kristalina Georgieva is out saying that the IMF has dedicated $50 billion to fund for virus help.
She adds:
  • expects growth this year will be below last year
  • central bank leaders and finance ministers are focused on what can do
  • great attention on liquidity to avoid credit crunch
  • nations are committed to coordinate on reaction to virus

China official PMIs February: Manufacturing 35.7 (expected 45.0) Non-manufacturing 29.6 (expected 51.0)

  
Analysis, Economy
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China’s economy was hit hard right from the Lunar New Year holiday and the weeks after from the coronavirus outbreak.

  • deaths now number >3,000 in China
  • Severe travel restrictions
  • Severe actions on public health
  • Business closures
Manufacturing 35.7, this is the lowest ever recorded for this indicator.
  • expected 45.0, prior 50.0
Non-manufacturing 29.6 … I mentioned during the week I was surprised the ‘expected’ for this was still in expansion. And here we are, deepest in contraction ever recorded
  • expected 51.0, prior 54.1
Composite 28.9
  • prior 53.0
China's economy coronavirus outbreak. 

China, Japan, & South Korea at risk of a second wave of disruptions to their supply chains

  
  Analysis
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South China Morning Post  on what is coming next –  ‘second wave’ of coronavirus economic impact

  • China, Japan and South Korea are at risk of a second wave of disruptions to their supply chains due to the ongoing impact of the coronavirus epidemic, which risks already slowing global trade, analysts warned.
  • The three Asian countries contribute around 24 per cent of the entire world economy with a combined yearly trading volume of over US$720 billion, forming one of the most integrated international economic blocs in the world.
Here is the link for more.

South China Morning Post  on what is coming next -  'second wave' of coronavirus economic impact 

Italy coronavirus cases are inflated due to testing errors – WHO official

  
  Analysis
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A WHO official with a remark over the coronavirus cases in Italy

Some good news for risk perhaps? The market isn’t budging though as there is no further details on the margin of error. That said, the fact that we are seeing cases become more widespread across Europe doesn’t help to do much damage control for now.

Update: Okay, this is a piece from Corriere which is saying that the Veneto region did not follow test guidelines when testing patients for the infection. Just take note that Veneto had 71 reported infections in the country yesterday, out of the nearly 400 cases reported.

Senior IOC member says Tokyo Olympics could be cancelled due to coronavirus

  
  Analysis
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Dick Pound said that if it proves too dangerous to hold the Olympics in Tokyo this summer because of the coronavirus outbreak, organizers are more likely to cancel it altogether than to postpone or move it.

Pound is a senior member of the International Olympic Committee
“In and around that time, I’d say folks are going to have to ask: ‘Is this under sufficient control that we can be confident about going to Tokyo or not?'” he said in an exclusive interview with The Associated Press.
Link here for more
Yep, that’d be bad news for Japan indeed.Dick Pound said that if it proves too dangerous to hold the Olympics in Tokyo this summer because of the coronavirus outbreak, organizers are more likely to cancel it altogether than to postpone or move it.

China says the coronavirus vaccine to be submitted for clinical trials around late April

  
  Analysis
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China Vice Technology Minister Xu says that the fastest a coronavirus vaccine to be submitted for clinical trials will be around late April

So, good news and bad news in that.
ps. China’s Global Times have now reported on that outbreak at a prison with 200+ cases reported.
  • Rencheng Prison
  • located in Jining City, Shandong Province
  • 207 new confirmed cases

China trade body says some customers have stopped accepting China metal products amid coronavirus outbreak

  
  Analysis
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China trade body: some customers in Russia, Turkey, Middle East and North Africa have stopped accepting deliveries of China metal products amid coronavirus outbreak

More:
  • some overseas customers, including from India, ask China metal firms to pay damages for failure to deliver products on time

Nikkei 225 closes lower by 0.14% at 23,827.73

  
Analysis, Global Indices
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Asian equities slip on renewed coronavirus concerns

Nikkei 13-02

The jump in the number of cases reported by Hubei here – owing to a reclassification – is causing investors to be a little unsettled to start the day, as concerns surrounding the coronavirus outbreak continue to persist.

That has seen risk trades take a bit of a hit, with Chinese equities on course to snap their seven-day rally; Shanghai Composite is down by 0.8% currently.
USD/JPY is lingering near the lows around 109.84 currently as Treasury yields are also marked lower with 10-year yields down 3.6 bps to 1.597% at the moment.

China’s Hubei province has reported 14,840 new coronavirus cases

  
  Analysis
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Big number of new coronavirus cases reported from the province. As of end Feb 12.

Wuhan is the epicentre of the epidemic, capital of Hubei
The authorities in Hubei have revised their diagnostic standard for coronavirus cases.
242 deaths on Feb 12
  • Death toll in the province now totals 1,310.
Risk trades taking a beating oin the news
  • CNH down
  • S&P 500 futures on Globex down
AUD/JPY ditto:
Big number of new coronavirus cases reported from the province. As of end Feb 12.
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