The number of confirmed cases of the coronavirus disease COVID-19 worldwide surged over 39.4 million on Saturday, a day after a clinical study found that therapy is seen as showing promise because it has no impact on mortality in hospitalized patients.
The study conducted by the World Health Organization found that Gilead Sciences Inc.
Remdesivir as well as hydroxychloroquine and AbbVies
Lopinavir / ritonavir and interferon had “little or no effect” on all-cause mortality, ventilation and length of hospital stay in 11,330 participating patients.
The results were presented in a preprint, which is medical research that has not been peer-reviewed. The Food and Drug Administration has approved remdesivir as a COVID-19 treatment based on a clinical study conducted in the United States that found the drug may be able to reduce recovery times.
It had also issued emergency approval for hydroxychloroquine as a COVID-19 treatment, although it was lifted this summer. The WHO study was first published on Thursday by the Financial Times.
In a statement released after the FT story was published, Gilead questioned the validity of the study data, saying it was “concerned that the data from this open-ended global study has not been subjected to the rigorous scrutiny that is required to convert to enable a constructive scientific discussion, especially given the limitations of the test design. "
However, according to the analyst at Raymond James, Gilead's answer is wrong.
"We would hope that Gilead will re-examine the SOLIDARITY trial rejection and reassess the clinical value of remdesivir in the context of these new data," they told investors in a notice.
The news comes as the US counted more than 69,000 infections on Friday, the highest one-day number since late July, according to data from Johns Hopkins University.
On Thursday, the U.S. recorded 63,610 cases, breaking 60,000 for the first time since August.
New cases are growing fastest in the Midwest. More than half a dozen states, including Ohio, Wisconsin, Michigan and Indiana, report record highs for one day.
Wisconsin Democratic Governor Tony Evers urged residents on Twitter to "put science and public health before politics," telling them to wear face masks and limit trips.
He also cited an October 11 White House report on Wisconsin that said, "Failure to comply with these measures will result in preventable deaths."
Andrea Palm, secretary for the Wisconsin Department of Health, told a briefing that hospitals in some parts of the state are already 90% busy.
Forty-four states and the District of Columbia currently have higher case numbers than they did in mid-September, the Washington Post reported, as the virus spreads to rural areas.
The Centers for Disease Control and Prevention updated the recommendations for the upcoming holidays, saying Americans should consider the number and frequency of COVID-19 cases in their community, see if others are socially distant and wear face masks, and that Take into account the location from which people are coming when planning meetings.
Read now:Large Thanksgiving gatherings are a high risk activity, according to the CDC. Here's how to safely visit your family this holiday season
See also: When does the COVD-19 pandemic end? The story offers a sobering message
In other news:
• More than 1,000 current and former officials in an elite disease control program at the US Centers for Disease Control and Prevention have signed an open letter expressing their dismay at the country's response to the Covid-19 pandemic in public health and calling on the federal agency to play a more central role, the Wall Street Journal reported. "The lack of national leadership on Covid-19 is unprecedented and dangerous," reads the letter signed by current and former CDC Epidemic Intelligence Agency officials for outbreak investigators. "CDC should be at the forefront of a successful response to this global public health emergency." The signatories included two former CDC directors: Jeffrey Koplan, who led the agency under Presidents Bill Clinton and George W. Bush, and Tom Frieden, who served under President Barack Obama.
• A Berlin court has suspended a planned curfew on bars and restaurants in the German capital to curb an increase in COVID-19 cases, Reuters reported. The Berlin local government announced last week that it would impose a night curfew from 11 p.m. until 6 a.m. "The curfew has been suspended for the time being because the court considers it disproportionate in view of other measures to combat the pandemic," said a spokesman for the administrative court in Berlin. The court found no evidence that a curfew would have a major impact on bars and restaurants that adhere to the rules for wearing masks and social distancing. Paris and other French cities will be subject to an even stricter curfew from 9:00 p.m. until 6am for the next four weeks.
• Switzerland set a record of 3,105 new coronavirus cases on Thursday, a record for the second day in a row, the Guardian reported. The alpine nation and neighboring Liechtenstein now have 74,422 confirmed cases and 1,823 people have died.
Do not miss:COVID-19 Vaccine Tracker: Everything You Need to Know About Companies With Candidates in Phase 1 or Later Studies
• Officials in the Chinese city of Qingdao tested more than 10 million residents, according to a government release, the Wall Street Journal reported. The city has counted only 13 local cases since last weekend linked to a local hospital's CT scan room used by two dock workers who had previously tested positive. A senior provincial health official said the room was not properly sanitized.
Read now:COVID-19 infections are re-emerging in northern Italy and hospital admissions are increasing
• The coronavirus pandemic was a central theme while dueling city halls on live television Thursday night with President Donald Trump and his Democratic opponent Joe Biden. Biden, who appeared on ABC, continued his attacks on Trump's mismanagement of the pandemic and his disdain for safety measures like face masks. "A president's words matter," Biden said during the Philadelphia event hosted by ABC News. "When a president doesn't wear a mask and makes fun of people like me when I wear a mask for a long time, people say," Well, it doesn't have to be that important. "Trump, who appeared on NBC, commented on his experience with COVID, saying his lungs were" a bit infected "and he had" a little bit of a fever. "However, he couldn't answer for sure if he was on the day of the first debate took a COVID test with Biden and didn't definitely answer if he would support "herd immunity" as a strategy to fight the disease.
See: Chanos said "torches and pitchforks are undervalued" after claims that hedge funds were privately informed about the coronavirus by the White House in early 2020
• A growing chorus of critics are targeting herd immunity after the Trump administration called reporters earlier this week to propose a theory based on it, MarketWatch's Jaimy Lee said. The White House denies having considered a herd immunity strategy. Herd immunity occurs when 50% to 90% of a population becomes immune to a virus. The idea is that once people are infected they would develop protective antibodies as part of their recovery. The virus would then theoretically lose mobility as fewer and fewer hosts are available. However, with a highly contagious and sometimes fatal virus like SARS-CoV-2, it also means the loss of potentially hundreds of thousands of lives. "Without a vaccine, many people would have to die of COVID-19 before population immunity is achieved," wrote two professors in an editorial in The Lancet last month.
The coronavirus has caused the deaths of 1.1 million people worldwide, according to Johns Hopkins data, while 27.1 million people have recovered since the outbreak began.
The US, which has 4% of the world's population, has 8.05 million confirmed cases out of a total of 39.4 million, or about 20%. The US is also leading through deaths with 218,618 Americans lost to the virus.
Brazil has the second highest death toll at 153,214 and ranks third with 5.2 million cases. India ranks second at 7.4 million and third at 112,998.
See: Prepare for a marathon and wear masks for two years to fight COVID-19, says the well-known Spanish virologist
Mexico has the fourth highest death toll at 85,704 and the ninth highest number at 841,661. There are 43,519 deaths in the UK, the highest in Europe and the fifth highest in the world, and 692,126 cases.
Read: The second wave of coronavirus could delay Europe's recovery: ECB President Lagarde
In China, where the disease was first reported late last year, there were 90,925 cases and 4,739 deaths, according to official figures.
What is the latest medical news?
The National Institutes of Health are starting a late-stage clinical trial to determine whether three immune control drugs can be used to treat shortness of breath and organ failure in critically ill Covid-19 patients, the Wall Street Journal reported.
The NIH study evaluates two drugs already on the market, Johnson & Johnson
Remicade and Bristol-Myers Squibb Co.
Orencia, along with an investigational drug called CVC from AbbVie Inc.
The study investigates whether one of the drugs known as immune modulators can control an overreaction of the patient's systemic Covid-19 inflammatory response.
is on track to know if its potential COVID-19 vaccine will be effective by the end of October and currently expects to apply for an emergency approval by the second half of November, according to Chief Executive Albert Bourla.
Pfizer is developing its vaccine candidate with Germany-based biotechnology company BioNTech S.E.
Before they can apply for the EEA, they have to prove that the vaccine is safe.
To do this, the Food and Drug Administration needs two months of safety data for half of the study participants after the final vaccine dose.
"Based on the current registration and the dosing pace, we estimate that we will reach this milestone in the third week of November," wrote Bourla in an open letter posted on his website on Thursday. He said he wrote the letter to clear up confusion about the vaccine candidate's development and approval.
What is the economy saying?
Sales in U.S. retail stores rose in September and rose for the fifth straight month as Americans bought more clothes, went out to eat, and bought new cars and trucks, suggesting an economic recovery was still underway early in the fall. Jeffry Bartash from MarketWatch reported.
Retail sales rose 1.9% last month, the government said on Friday. Economists surveyed by MarketWatch had forecast an increase of 1.2%.
Aside from the large auto segment, retail sales were still quite strong, up 1.5%.
Although retail sales have quickly returned to pre-crisis levels and have been processed faster than expected so far, many economists fear that disappointment is imminent. People are returning to work more slowly, the coronavirus is spreading quickly again, and Washington failed to pass a second coronavirus alleviation law, creating new concerns for the health of the economy.
"The unexpectedly sharp rise in retail sales of 1.9% last month suggests that the economy had more momentum than expected in the fourth quarter," said US economist Michael Pearce of Capital Economics. "However, we are cautious about events in Europe as a reminder of how quickly virus cases could recur, which could dampen the US recovery."
Regardless, industrial production fell for the first time in five months in September, which surprised economists who had expected the factory sector to grow more steadily, MarketWatch's Greg Robb reported. Industrial production fell 0.6% in September, the first decline in four consecutive months of growth, the Federal Reserve reported on Friday.
According to a survey by MarketWatch, the decline was well below Wall Street's expectations of an increase of 0.4%. Production remains 7.1% below pre-pandemic levels.
Eventually, Americans grew more concerned about a coronavirus resurgence and slower attitudes in early October, but optimism that the economy will improve over the next year brought consumer sentiment to a pandemic high.
The preliminary reading of the consumer sentiment index rose this month from a revised 80.4 in September to 81.2, the University of Michigan said on Friday. This is the highest level since March when the pandemic hit the US.
What do companies say?
• Amazon.com Inc.
closed its Prime Day event for 2020, saying its own Echo Dot device, Lego Star Wars Stormtrooper helmet, and iRobot Roomba Robot Vacuum were among the best sellers during the pandemic. Prime Day took place on October 13th and 14th in 19 countries. India's Prime Day took place in August. Amazon did not provide a final sales balance, which is often not the case. According to data from third-party vendors, which include small and medium-sized businesses, it had revenue of more than $ 3.5 billion, up 60% year over year. The best-selling categories include living, arts and crafts, electronics, and nutrition and wellness. The fastest delivery was in 29 minutes and 54 seconds. More and more customers were choosing to pick up from an Amazon Hub location or an Amazon Locker, with cities like New York, Las Vegas, and Los Angeles seeing the most activity in late October.
• Del Taco Restaurants Inc.
reported results for the third quarter of the fiscal year that were roughly in line with Wall Street estimates as the company continues to feel the effects of the pandemic. Del Taco reported net income of $ 5.8 million, or 15 cents per share, compared to a loss of $ 7.7 million, or 21 cents per share, for the year-ago quarter. Revenue increased 0.5% from $ 120.2 million a year ago to $ 120.8 million. Analysts polled by FactSet had expected a net profit of 11 cents per share of sales of $ 120.4 million.
• Hertz Global Holdings Inc.
The car rental company, which was an early victim of the pandemic when it filed for bankruptcy in a travel burglary, secured $ 1.65 billion DIP (debtor-owned) funding. Up to $ 1 billion of the DIP can be used to provide equity for vehicle purchases in the United States and Canada, and up to $ 800 million can be used for working capital and general corporate purposes. The financing requires the approval of the bankruptcy court. "This new financing provides additional financial flexibility as we continue to manage the impact of the pandemic on the travel industry and take steps to optimally position our business for the future," said Chairman Paul Stone.
• Hewlett Packard Enterprise Co.
announced and improved financial outlook for fiscal year 2021. HPE estimates its non-GAAP diluted outlook for diluted net earnings per share to be $ 1.56 to $ 1.76, an increase of 10% year over year in the middle, adjusted share-based compensation expenses. According to GAAP, the company is forecasting a diluted outlook for earnings per share from 34 cents to 54 cents for fiscal year 21, which corresponds to an increase of 77 cents over the previous year in the middle. "While the global pandemic is unlike any crisis we've ever faced, it has acted as a catalyst and made digital transformation a strategic imperative for businesses," HPE Managing Director Antonio Neri said in a statement. “Companies need to offer their employees and customers secure connectivity, remote work solutions, data analytics and cloud-like mobile-first experiences. And they need to do this quickly and flexibly, while maintaining the liquidity to deal with macroeconomic uncertainty and adapt to the new world. This is a significant opportunity for Hewlett Packard Enterprise. "
• VF Corp.
The owner of the Vans, Timberland and North Face brands posted better-than-expected results in the second quarter of the fiscal year on Friday, saying business is picking up again after being hit by store closures during the pandemic. Revenue declined from $ 3.179 billion to $ 2.608 billion, also ahead of the FactSet consensus of $ 2.494 billion. "We are beginning to see signs of stabilization and strength in all areas of our business, which supports our decision to increase the dividend and provide a financial outlook for the balance sheet for the year," said CEO Steve Rendle in a statement. The company now expects fiscal 2021 revenue of at least $ 9.0 billion, ahead of the FactSet consensus of $ 8.8 billion. Adjusted earnings per share are expected to be at least $ 1.20, ahead of the FactSet consensus of $ 1.11. The company declared a dividend of 49 cents per share that was payable on December 21st to shareholders of record on December 10th.