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CNBC's Chrissy Farr has the scoop this week on drugmaker AbbVie, which has started asking employees to return to work this month. Some employees are reluctant. We also have the latest on vaccines, including news that AstraZeneca paused its late-stage testing for safety reasons. We wrap up the newsletter with an update on New York City and a Democratic probe of a top health official.
| | AbbVie asks employees to return to work, but not everyone feels safe doing so | AbbVie, one of the largest drugmakers, stressed in an email to employees that a critical part of its success is down to "face to face" interaction. So the company has recently started asking thousands of its employees to return to work by mid-September as part of a "phased" approach. The company told its workers that it has taken steps to make its office safe in the midst of the coronavirus pandemic, including partitions and increased ventilation. But CNBC interviewed several employees who say that they did not feel comfortable in an environment where many people are sitting in open cubicles. AbbVie declined to comment to CNBC about its return-to-work policies.
–Chrissy Farr | | | | AstraZeneca vaccine trial hold may be routine, but CEO's communication shouldn't be | The hold placed this week on the British drugmaker's vaccine trials while an illness is investigated shows that safety checks even in an expedited process are working as they should. But the company's communication of the events has raised eyebrows: while it remained tight-lipped in response to many questions about the event, its CEO, Pascal Soriot, shared many more details with investors on a private call through JPMorgan. AstraZeneca argues it was a pre-scheduled event, but hasn't responded to questions about selective disclosure. The choice to communicate first to investors came just days after the industry banded together in what it called a historic pledge to make safety its top priority. What it didn't include: a pledge for transparency .
–Meg Tirrell | | | | U.S. officials insist vaccine approval process will be based on science, not the election | Top U.S. health officials attempted to alleviate concerns that President Donald Trump may be pressuring regulators to approve a Covid-19 vaccine before it's been adequately tested and reviewed. At a Senate hearing this week, NIH Director Dr. Francis Collins and U.S. Surgeon General Dr. Jerome Adams told lawmakers that officials would not skimp on any safety assessments in the development of a vaccine. A day later, FDA Commissioner Stephen Hahn said he had "no intention" of overruling career scientists at the agency who will ultimately make a recommendation on a vaccine.
–Berkeley Lovelace Jr. | | | | After 6 months, indoor dining returns to New York City | Beginning Sept. 30, New York City restaurants that have been staying afloat through take-out and outdoor dining services over the summer will be allowed to serve customers inside at 25% capacity. Although the businesses will be subject to a number of regulations, it's the first time since mid-March they'll be allowed to invite customers to dine inside even as coronavirus cases declined over the summer. Gov. Andrew Cuomo previously postponed plans to allow Big Apple restaurants to reopen for indoor dining despite allowing malls, gyms and museums to return. New York has reported an infection rate below 1% for 34 straight days as of Wednesday — well under the 5% threshold recommended by global health officials.
–Noah Higgins-Dunn | | | | Top health official spent millions to boost 'personal brand,' Dems say | Congressional Democrats earlier this week accused Seema Verma, administrator of the Centers for Medicare and Medicaid Services, of "extensive abuse" of millions of taxpayers' dollars, in part by retaining a raft of Republican-tied media consultants in an attempt to boost her "personal brand." The accusation comes after a 17-month investigation by Democrats across four congressional committees: the House Energy and Commerce Committee, the House Oversight and Reform Committee, the Senate Finance Committee and the Senate Health, Education, Labor and Pensions Committee. The Democrats say they obtained tens of thousands of documents showing dozens of questionable billing statements, that show one consultant, Pam Stevens, billed almost $3,000 for work related to setting up a "Girl's Night to honor the Administrator" at the home of journalist Susan Page.
–Will Feuer | ![]() | | @Work Spotlight | September 23, 2020
Balancing Current Challenges with Future Opportunities
In today's uncertain business climate, there is a focus on cost containment to weather the storm, but also a need for executives position their organizations for future growth. The CNBC @Work CFO Spotlight will examine how top finance leaders are successfully striking this balance. We'll discuss: lessons learned during the current crisis that can be applied permanently; the strategies, data and automation tools that can be leveraged to help manage uncertainty and lead to a stronger post-crisis posture; how to effectively engage employees, customers, and investors; and much more.
FEATURING
R. Martin Chavez, Fmr. CIO and CFO, Goldman Sachs
Margaret Keane, CEO, Synchrony
Robynne Sisco, President & CFO, Workday
Kathy Waller, Fmr. CFO, The Coca-Cola Company; Current Board Member of Delta and Beyond Meat
Robin Washington, Fmr. CFO, Gilead; Current Board Member of Alphabet, Honeywell and Salesforce
Brian Wenzel, EVP & CFO, Synchrony
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