China’s biotech learning curve

Here's the latest news from the global pandemic. Supply chains pressured in China as ships avoid virus-hit port World's food prices surge to highest in almost a decade, UN says Global home prices rise most since 2006, fueling bubble concerns China's biotech learning curve For much of this year, the efficacy rate of a Chinese vaccine made by Beijing-based Sinovac Biotech has been the topic of concern as three different sets of data— with protection rates ranging from 50% to 90%—emerged from clinical trials in Brazil, Turkey and Indonesia. The uncertainty mattered because dozens of developing countries across the world are relying on Sinovac's shot, given their lack of access to the extraordinarily effective mRNA vaccines from companies like Pfizer and Moderna that had been secured by richer economies. Sinovac's vaccine is the second-most-used in the world, after Pfizer's, and some 380 million doses have been sent around the world. Those doubts flourished over the past months as the company stayed silent and didn't provide details or explanations that could have shed light on the divergent data. For Chief Executive Officer Yin Weidong, the priority was not to explain or try to address negative media coverage, but to get the vaccine approved by as many regulators as possible. The rest, he told Bloomberg in an exclusive interview last month, didn't matter as long as populations were getting vaccinated. Medical staff members administer a dose of the Sinovac Covid-19 vaccine. Photographer: STR/AFP Even so, the company's lack of media savvy and control over information disseminated by its trial partners across the world has meant that the shot now has a bad rep—worse than it deserves. In the real world, evidence is emerging that it's highly effective: Indonesia said recently that of around 130,000 health-care workers fully vaccinated with Sinovac's shot, 94% were protected from symptomatic infection, 96% from hospitalization and 98% from death. True to form, Sinovac and its CEO didn't know about that study or even that the data was going to be released by the Indonesia government. There's a key takeaway from Sinovac's baptism of fire for the growing legion of Chinese biotech firms wanting to grow into the next Pfizer or AstraZeneca: Global trust and confidence in them and their products hinge on how well they can communicate outside of China and stand up to the heightened scrutiny that's the norm on the global stage. Otherwise, they do a disservice to themselves and their contributions to worldwide pharmaceutical advancement.—Emma O'Brien and Dong Lyu Track the vaccines The World's Best Hope to End the Pandemic The nonprofit Covax, which distributes Covid vaccines to mostly poor countries, has been saying for a year no one is safe until everyone is. At every turn, it's been stymied by pharmaceutical companies drawing out negotiations and countries hoarding doses and raw materials. But rich countries may finally be getting the message. Read the full story here.  Workers unload boxes of Covax Covid-19 vaccines in Madagascar. Photographer: Mamyrael/AFP   What you should read Yemen: Worst Humanitarian Crisis, Then Covid Measures are scarce and many see cholera, typhoid as more of a threat. 'Covid Zero' Also Means Maximum Travel Pain Asia's aviation comeback stalls amid border restrictions, slow vaccinations. India Orders Biological-E Shots Amid Shortage Phase 3 trials are currently on, with shots to be prepared from August.  U.K. Education Czar Quits Over Covid Catch-Up  Kevan Collins resigns due to the lack of funding offered by the government. Japan to Send Shots to Help Taiwan This Month Taiwan has blamed China for impeding shipments of Covid-19 vaccines. Know someone else who would like this newsletter? Have them sign up here. Have any questions, concerns, or news tips on Covid-19 news? Get in touch or help us cover the story. Like this newsletter? Subscribe for unlimited access to trusted, data-based journalism in 120 countries around the world and gain expert analysis from exclusive daily newsletters, The Bloomberg Open and The Bloomberg Close. Follow Us Get the newsletter You received this message because you are subscribed to Bloomberg's Coronavirus Daily newsletter. Unsubscribe | Bloomberg.com | Contact Us Bloomberg L.P. 731 Lexington, New York, NY, 10022