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The week started on an optimistic note after biotech firm Moderna reported its potential coronavirus vaccine induced neutralizing antibodies in eight of its patients. However, that optimism quickly eroded after a STAT News report questioned the info provided, saying it lacked critical data. The number of people without jobs continues to rise. CNBC's Chrissy Farr tells us about a sector doing well even while the economy is cratering.
Check out all our coverage from the Healthy Returns Virtual Summit on cnbc.com/healthy-returns, where you can also watch our weekly Healthy Returns: The Path Forward livestream interviews. You can also listen to "The Keynote" – a new podcast series from the CNBC Events team where you can hear directly from all the leaders taking the stage at events, with behind-the-scenes commentary and more.
| | It was a big week in Covid-19 vaccine development | Moderna spurred controversy after releasing interim phase 1 data on its Covid-19 vaccine that included only 8 patients' worth of data on neutralizing antibodies — the key to blocking the virus. Its chairman joined us on CNBC to address critics, noting "that's the data we had; that's the data we shared." Meanwhile, AstraZeneca struck a $1.2 billion deal under the U.S. government's Operation Warp Speed for its Covid-19 vaccine, promising to deliver 300 million doses, if its vaccine is successful, to the U.S. by October. And finally, J&J Chief Scientific Officer Paul Stoffels walked us through why that company's not starting human trials until September — and why it's still a major contender in the race.
-Meg Tirrell | | | | Hospitals see procedures rebound, but worry about pipeline | As hospitals have reopened for elective surgery and diagnostic procedures this month, many like Ochsner Health System in New Orleans are reporting better-than-expected demand. But most of what they're seeing is the backlog of cases postponed due to the pandemic shutdown. They're worried about the pipeline of new procedures down the line, with specialists' offices coming back at lower capacity and patients being leery of going to hospitals.
-Bertha Coombs | | | | The rest of the economy is cratering, but one sector is doing very well | That's digital health. Just this week, two companies - Omada Health and American Well ("Amwell") raised tens of millions of dollars to help their businesses ramp up to meet the level of demand they're seeing during the pandemic. With consumers opting to get their medical care remotely by connecting with a doctor or nurse online, these two services say they are taking off. Omada Health pulled in $57 million from Perceptive Advisors and acquired a company called Physera, which offers remote physical therapy. And Amwell's raised $194 million from its existing investors. Amwell's CEO told us that the "market is very kind" to companies in his space, but that window of investment might not be open for much longer.
-Chrissy Farr | | | | Trump says he takes hydroxychloroquine to prevent infection | President Donald Trump revealed this week that he has been taking anti-malaria drug hydroxychloroquine daily for over a week to prevent infection from the coronavirus. He said he asked his White House physician about the drug. "Cause I think it's good, I've heard a lot of good stories," he said. That came despite warnings from the Food and Drug Administration, which said the drug should only be taken in a hospital setting or formal clinical trial due to risk of heart issues. However, after Trump's reveal, the FDA appeared to shift its stance a little, saying taking the drug is "ultimately" a choice between a patient and their doctor.
-Berkeley Lovelace Jr. | | | | CDC tracks cluster of coronavirus cases to a church amid dispute over religious gatherings | Contact tracers in Arkansas tracked a cluster of infections back to a church, raising concerns about how religious organizations will safely reopen, the Centers for Disease Control and Prevention said in a study published this week. "Faith-based organizations that are operating or planning to resume in-person operations, including regular services, funerals, or other events, should be aware of the potential for high rates of transmission of SARS-CoV-2," the researchers wrote. Officials in several states had previously carved out exemptions for religious gatherings in stay-at-home orders and business restrictions. The federal government has yet to release guidance on how religious organizations should reopen as states chart a path forward, balancing public health with a desire to return to a semblance of normalcy. NBC News reported that the White House will release such guidance after it was delayed due to a dispute with the CDC.
-Will Feuer | | | | Routine vaccinations in children fall in first half of year | Routine vaccinations for children across the country have fallen for the first half of the year as families stay home due to the coronavirus pandemic, according to a report published Monday by the Centers for Disease Control and Prevention. The CDC analyzed the vaccination status of babies and toddlers in Michigan between 1 and 24 months old and found that vaccinations except hepatitis B fell in all age groups. In New York City, Mayor Bill de Blasio said on Wednesday that the number of administered vaccine doses has declined 63% for all children in the city from a year ago. For children over age 2, the number of doses is down a "shocking" 91%, he added. The CDC warned that there could be a measles outbreak if widespread vaccinations don't resume.
-Noah Higgins-Dunn | | | | New York's coronavirus outbreak is back to where it started | New York Gov. Andrew Cuomo announced this week that the state's coronavirus outbreak has slowed to levels not seen since the beginning of the pandemic. The number of fatalities, rate of new infections and daily number of hospitalizations related to Covid-19 have continued to fall. The number of coronavirus deaths topped 105 on May 18, which is roughly the same number of lives lost on March 26, according to Cuomo. Close to 800 people were dying every day at the height of the state's outbreak in late March and early April. New York is now working towards reopening regions of the state in phases. So far seven areas — Capital Region, Central New York, Finger Lakes, Mohawk Valley, North Country, Southern Tier and Western New York — have met the state's metrics to begin reopening.
-Jasmine Kim | | CNBC @Work Virtual Spotlight | June 18, 2020
The New Convergence: Driving Better Outcomes
Featuring:
Que Dallara, Honeywell Connected Enterprise President & CEO
Pat Gelsinger, VMware CEO
"Tiger" Tyagarajan, Genpact CEO
Companies are just beginning to leverage powerful new technologies like 5G, AI and sensors to achieve greater efficiency, gain new insights into operations, and create new products. But to fully realize the benefits of these advances, a realignment and reassessment of a business' workforce will be necessary – where, how, and by whom work gets done.
Through discussions with the most influential voices on the future of work, CNBC will explore how companies can use converging tech to find the best workers, create a new, more flexible workforce, and enhance their bottom line. | |
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