Chinese vaccine shows positive results, US govt probes Vaxart’s tall claims

Coronavirus vaccine update: The International Monetary Fund (IMF) has said that international cooperation on a coronavirus vaccine could boost the global economy by $9 trillion to pull it out of the economic crisis. Meanwhile, in the global vaccine race, a Chinese vaccine has shown positive results in the human test.

 The International Monetary Fund (IMF) has said that international cooperation on a coronavirus vaccine could boost the global economy by $9 trillion to pull it out of the economic crisis. Meanwhile, in the global vaccine race, a Chinese vaccine has shown positive results in the human test.

A New York Times report has said the United States is probing Vaxart, a California-based biotech firm, over its claims on developing a vaccine against coronavirus.

CHINA’S CNBG VACCINE SHOWS PROMISE

CNBG, which is producing one of China’s top coronavirus vaccine candidates, has said the antidote has shown positive results in the latest test conducted on volunteers. Researchers have said the coronavirus vaccine candidate looks safe and has triggered immune responses in the early and mid-stage trials in humans.

The vaccine named BBIBP-CorV is being developed by the Beijing Institute of Biological Products, a subsidiary of China National Biotec Group (CNBG). The BBIBP-CorV vaccine is one of the top 10 coronavirus vaccine projects in the world that have entered Phase III clinical trials. Three of China’s vaccine candidates are in Phase III trials, according to WHO.

The Chinese vaccine trials have shown it has not caused any severe side effects among the volunteers while common mild or moderate adverse reactions including fever and pain at injection sites, according to a paper published on Thursday in medical journal the Lancet.

US PROBES VAXART’S VACCINE CLAIMS

California-based biotech firm Vaxart has come under the scanner of the US government over its claims on vaccine against Covid-19. According to a report in New York Times vaxart  had said in June that the firm has been selected for the US government’s vaccine programme Operation Warp Speed. The announcement gave a major boost to Vaxart’s stocks.

Vaxart reaped $200 million in profits from share selling, however, the report has said that the company may have overestimated its claims on the vaccine.

Now, Vaxart has said it has received a notice from the US justice department over its role in the Operation Warp Speed programme. On the other hand, the company has also been slapped with a number of lawsuits filed by its investors for overstating the vaccine claims, said the report.

VACCINE’S $9 TRILLION ECONOMY BOOST

International Monetary Fund (IMF) Managing Director Kristalina Georgieva has said strong international cooperation on Covid-19 vaccines could speed up the world economic recovery and add $9 trillion to global income by 2025.

Speaking at a news conference after a meeting of the IMF’s steering committee, Georgieva also called on the United States and China to keep up strong economic stimulus that could help boost a global recovery.

She emphasized the need for coronavirus vaccines to be distributed evenly across the world in both developing countries and wealthy nations, to boost confidence in travel, investment, trade and other activities.

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20 Oct 2020, 11:19 AM (GMT)

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