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(afp / Reuters / sda) The US FDA has approved antibody therapy from pharmaceutical company Regeneron Pharmaceuticals Inc for emergencies. The cocktail of experimental antibodies from the American company REGN-COV2 could help prevent hospitalization of coronavirus patients. This could ease the health system, Stephen Hahn of the US FDA (local time) said Saturday. US President Donald Trump was treated with the drug for his Covid 19 disease in early October. He said it healed him. Regeneron drugs called casirivimab and imdevimab are to be used for mild to moderate Covid diseases, which are at high risk for severe disease. A few days ago Eli Lilly received emergency approval for similar preparation.
Antibody therapy from US pharmaceutical company Regeneron has been approved for emergencies.
The active ingredient of REGN-COV2 is a combination of two specially developed antibodies that bind to the so-called spike protein of the coronavirus and can thus deform its structure. This is to prevent the coronavirus from attacking human cells. According to Regeneron, the combination of two different antibodies should prevent the Sars-COV2 virus from mutating.
(Reuters) Pharmaceutical company Moderna wants to charge governments between $ 25 and $ 37 for a dose of its coronavirus vaccine. “This is a fair price when you consider how high the costs to the health system are if a person becomes seriously ill with Covid-19.”
This is what CEO Stephane Bancel told “Welt am Sonntag”. “We are not interested in maximum profit,” said the manager. EU circles reported on Monday that they wanted to buy millions of cans from Moderna in the future for a unit price of less than $ 25.
(SDA) The Italian government wants to increase financial aid for companies particularly affected by the crown block, for example in commerce, culture and gastronomy. On Friday evening the cabinet of Prime Minister Giuseppe Conte approved a decree that provides for aid for about two billion euros for the rest of 2020. In Italy, severe restrictions have been applied to exits in the so-called red zones since the beginning of November. Also, most of the shops are closed. The new emergency package also provides help to support poor citizens and to purchase drugs to treat patients with Covid-19.
The center-left government increased its aid several times during the second crown wave. The country, which is already heavily indebted, must raise additional funds for this. An application for a larger budget deviation in 2020 is expected to be presented to parliament on Wednesday, he said.
(dpa) Russia extended its food embargo from Germany and dozens of other countries with a one-year decree from Kremlin head Vladimir Putin until December 31, 2021. The ban on the import of dairy products, meat, fruit and vegetables by the EU, first imposed in August 2014, was a reaction to the sanctions imposed by the West on Russia following the Ukrainian conflict. It is about protecting Russia’s national interests, according to the presidential decree signed and published in Moscow on Saturday.
The embargo should not be just a revenge for the sanctions imposed by the West. Russia has used the situation mainly to renew its production, for example in the dairy sector, in order to be less dependent on imports. The embargo affects many countries that have imposed “anti-Russian sanctions”, including the United States, Australia, Canada and Ukraine.
As many embargoed goods such as cheese from France and Italy continue to enter the market via detours and smuggling, Russia has already destroyed tons of food. It is also criticized that the elimination of foreign competition has raised the prices of Russian food for consumers of the gigantic empire. Also, customers sometimes complain of lower quality than western food.
Moscow politicians, however, rate the embargo as a great success because it has managed to improve self-sufficiency in Russia. The country’s position as an exporter of agricultural products, for example, is also seen as strengthened. For example, Russia recently celebrated itself as the largest wheat exporter in the world, well ahead of the United States.
EU producers have long opened other markets in the US and China. Kremlin chief Putin has repeatedly said he will lift counter-sanctions as soon as the EU ends its punitive measures against Russia. But it is not in sight.
Pfizer Pharmaceutical CEO Albert Bourla on the New York Stock Exchange.
(dpa) The Dow Jones Industrial fell on Friday. The best-known American equity index has therefore continued the zig-zag path of recent days at a high level. Once again, investors waited in vain to skip the round, a never-before-seen mark of 30,000 points. The focus was on new and positively received news about corona vaccine developers.
The Dow widened its losses in late trading and ultimately lost 0.75% to 29,263.48 points – the weekly least was nearly identical. The market-wide S&P 500 fell 0.68 percent on Friday to 3557.54 points. For the high-tech Nasdaq 100, which was quoted in positive territory at times, it ultimately fell 0.66% to 11,906.44 points.
Earlier in the week, the US benchmark had risen to a record high on hopes of another promising corona vaccine. But then, given the high number of infections, a bit of disillusionment spread on the market.
A dispute between the Treasury Department and the Federal Reserve over aid for the financial crown is currently causing a bad mood among investors. These are loans that the government has used to support various central bank aid programs. The ministry wants to get the funds back and phase out some of the central bank’s programs. The central bank is reluctant to do so and demands that the aid continue.
News of company price developments was rare before the weekend. The shares of Biontech and Pfizer gained more than nine and a half percent and nearly one and a half percent, respectively. According to their own information, the Mainz-based company and the American pharmaceutical giant have applied for emergency approval for their corona vaccine from the American pharmaceutical authority FDA. Pfizer confirmed this on Twitter.
Headlines from competitor Moderna, which posted good data on its vaccine a week later, jumped more than five percent. European Commission head Ursula von der Leyen said the vaccines from Biontech, Pfizer and Moderna could get conditional marketing approval in the second half of December if all goes smoothly. This was announced by the European Medicines Agency.
Shares of video conferencing software company Zoom Video rose more than six percent on consideration of corona infection data. So they continued their recovery for the past few days.
Meanwhile, shares in Gilead Sciences have lost nearly 1%. They suffered from a British Medical Journal report that the World Health Organization (WHO) advised against the use of Gilead’s once promising drug Remdesivir for Covid-19 diseases.
At Foot Locker, shareholders faced a price loss of nearly five percent despite good quarterly data. However, at the very start of the stock market, the sports goods manufacturer’s shares had also reached their highest level in a year. According to Berenberg analysts, the negative reaction of the share price is also due to high expectations. Additionally, the low volume of scheduled share buybacks could be interpreted as a lack of management’s confidence in their company, he said.
The euro has been rather lethargic, last trading at $ 1.1858 in New York. The European Central Bank (ECB) had set the reference rate for the common currency at $ 1.1863 (Thursday: 1.1832) and the dollar costs 0.8430 (0.8452) euros. US government bond prices also showed little movement: the 10-year Treasury futures contract (T-Note Future) gained 0.01% to 138.52 points. The 10-year bond yield was 0.83%.
American media company Buzzfeed takes over the news portal “HuffPost”.
(sda / afp) US media company Buzzfeed takes over the news portal “HuffPost” from the Verizon Media group. The two companies are entering into a strategic partnership in online content and advertising, as they announced.
Verizon also receives a minority stake in Buzzfeed. Buzzfeed boss Jonah Peretti founded “HuffPost”, which was then still called “Huffington Post”, along with Arianna Huffington. The online portal is, just like Buzzfeed, a pioneer in the field of digital media. In recent years, however, both have faced economic difficulties.
His company decided to take over because it “believes in the future of ‘HuffPost’ and its potential to continue to shape the media landscape for years to come,” explained Peretti. Also, the business is attractive because of the “brand and users” of “HuffPost”. There isn’t “much overlap” between users of either online media.
In recent years, Verizon has established itself as a major player in the industry by acquiring AOL, Techcrunch and Yahoo, for example.
Inner courtyard of the new Swiss Re headquarters in Zurich.
(awp / sda)
Reinsurer Swiss Re sees itself on a growth path despite the corona pandemic and sees better market conditions. The group confirmed its financial goals and priorities in capital management on the Friday before Investor Day.
The focus is on first-class capitalization and a constant or higher dividend, Swiss Re said ahead of the online investor meeting. “We are confident for the future of all of our business areas as the underlying profitability of the group is developing positively,” CEO Christian Mumenthaler said in the statement.
Thanks to the provisions it is assumed that the pandemic will affect only the profitability and not the financial solidity of the group. Risk exposure will decrease in the future, Mumenthaler said: “We are focusing on achieving our financial goals.”
Swiss Re measures its performance against the medium-term objectives it adheres to. It aims to exceed the risk-free interest rate on 10-year US government bonds by at least 700 basis points during the insurance cycle with the return on equity and increase the economic net worth per share by 10 percent annually.
(sda / reu) Due to the coronavirus blockade in France, the online retailer is postponing its “Black Friday” discount campaign. The special offers actually scheduled for the end of next week are now scheduled for December 4th. That’s what Amazon France chief Frederic Duval told TF1 on Thursday. Due to the second block, most shops in France will likely be closed until at least the end of November.
The US group joins French retailers like Carrefour with the move. At Amazon, business is doing well given the coronavirus restrictions on stationary retail.
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