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Coronavirus cases in the United States keep hitting record highs and public health officials and infectious disease experts fear the pandemic could get even worse as Thanksgiving and Christmas approach. We have more on that below. CNBC's Meg Tirrell also updates us on positive vaccine news from Pfizer.
| | U.S. prepares for worst four months of the pandemic | The U.S. is heading for a "dark winter," a "Covid hell," the "darkest days of the pandemic." However you describe it, the next few months of the coronavirus pandemic will be unlike anything the nation has seen yet, epidemiologists, policymakers, and scientists are warning. The nation is now reporting an average of more than 127,000 new Covid-19 cases a day — a staggering number that sets a deadly tone heading into the holiday season. And more Americans are now hospitalized with Covid-19 than at any other point in the pandemic. "Unfortunately, the worst days are ahead of us," Ali Mokdad, a professor of global health at the Institute for Health Metrics and Evaluation at the University of Washington, told me.
-Will Feuer | | | | Covid testing already under pressure | Covid testing capacity has continued to expand but so has demand as the U.S. is seeing a record surge in cases. That's starting to put strain on pharmacies and clinics that perform tests, just as more people are looking to be screened before Thanksgiving gatherings. Already some areas are seeing delays in getting testing results back. ProHealth Care's Dr. Daniel Griffin says he's very worried about the holidays.
-Bertha Coombs | | | | As Pfizer CEO declares 'great day for humanity,' Moderna's up next | The week started off, uncharacteristically these days, with some good news: Pfizer and BioNTech's Covid-19 vaccine showed more than 90% efficacy in preventing symptomatic disease, much higher than the 50% bar set by the FDA. Pfizer CEO Albert Bourla joined Squawk Box to discuss not just the milestone moment but also the challenges ahead with supply and distribution. The drug giant is on track to seek FDA's emergency use authorization as soon as next week. Meanwhile we may get our next look at a Covid vaccine around then too, from Moderna, which said Wednesday there are more than enough cases in its trial now for its data committee to start its assessment. Dr Anthony Fauci is setting the bar high, saying because the vaccines are based on the same technology, the efficacy should be similar.
-Meg Tirrell | | | | FDA allows emergency use of Eli Lilly's antibody treatment | The FDA granted an emergency use authorization for Eli Lilly's coronavirus antibody treatment, bamlanivimab, a therapy similar to the one President Donald Trump received when he contracted the coronavirus last month. No one can pronounce the name, not even HHS Secretary Alex Azar, but the FDA said the treatment will be used on people newly infected with Covid-19 and who are at risk of developing a severe form of the disease. Senior administration officials told reporters that state and local health systems could expect to face some early challenges administering the intravenous drug, which takes more than an hour to infuse and requires another hour of observation afterward.
-Berkeley Lovelace Jr. | | | | Biden's plan to tackle the coronavirus | Once President-elect Joe Biden takes office on Jan. 20, the U.S. can expect changes to the nation's coronavirus response strategy. One of the key differences: Biden's plan, in contrast to the Trump administration's response, calls for a more coordinated national strategy. You can expect the Biden-Harris administration to increase use of the Defense Production Act to make protective equipment for frontline workers, a national mask policy and restored relations with the World Health Organization. Biden and Harris have also said they will significantly increase the nation's testing by doubling the number of drive-through sites — at least 10 per state — and invest in at-home tests. When it comes to shutting down, Biden's plan calls for the CDC to provide communities with hard data that will guide them on when to close business or schools depending on the outbreak.
-Noah Higgins-Dunn; Chrissy Farr | | | | The problem with VIP care for Covid-19 patients | Bioethicists see big potential pitfalls with giving special treatment, including unapproved drugs, to political elites who contract the coronavirus. So far, that includes President Trump, his longtime ally Chris Christie, and others. To access the drugs, both men applied for and were granted special exemptions as part of an FDA program that gives patients limited access to investigational medical products before they're approved. Pharma companies don't freely grant compassionate use requests for their drugs. It's problematic for a few reasons: For starters, the public might come to a premature conclusion about a drug that can be challenging to walk back. It could also pressure regulators to approve a drug before there's enough data supporting that decision. It also sends a message that wealth and fame can buy better health care outcomes for those diagnosed with Covid-19. "When I'm managing my patients, most of who are sick but not at the hospital, almost every single one of them asks if they'd be treated differently if I were the president," said Dr. Panagis Galiatsatos, a pulmonary and critical care medicine physician based in Baltimore, Maryland.
-Chrissy Farr | | | | Fauci says it appears Covid mutation on minks farms won't be a problem for vaccines | Dr. Anthony Fauci, the nation's leading infectious disease expert, said a mutated version of the coronavirus found in Denmark's mink farms doesn't look like it will derail hopes for a vaccine. "It does not appear, at this point, that that mutation that's been identified in the minks is going to have an impact on vaccines and affect a vaccine-induced response," Fauci said during a webinar hosted by think tank Chatham House. The Danish government ordered a mass cull of all 15 million minks in farms nationwide earlier this month, shortly after it was discovered a new coronavirus strain had passed from the animals to humans. The WHO has since launched a review of biosecurity measures in mink farms across the globe to prevent further spillover events.
–Sam Meredith | | Path Forward: Your Money | November 17, 2020
The coronavirus pandemic is not just a public health crisis, but an economic one, as well. With the country in the midst of a historic recession, every American is feeling the pinch –from job insecurity, to rising healthcare costs, to investment volatility. The Path Forward virtual summit will bring together some of the top experts in personal finance to provide critical advice on spending and saving, and examine the psychology behind decision making, to help you stay financially sound during this time of unprecedented challenges.
Featuring:
Suze Orman, Author, Personal Finance Expert
Bill Perkins, Author, "Die with Zero"
Brandon Copeland, NFL's New England Patriots; University of Pennsylvania
Carl Nassib, NFL's Las Vegas Raiders
Eesha Sharma, Dartmouth College
Tiffany Aliche, The Budgetnista
Winnie Sun, Sun Group Wealth Partners
Lars Ulrich, Metallica
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