The CEO of pharmaceutical company Moderna sounded a new alarm in the financial markets on Tuesday after warning that the COVID-19 vaccine against the Omicron variant may not be as effective as the delta version.
Crude oil futures have fallen by more than $ 1, Australian currencies hit annual lows, and Stephen Bancel’s comments fuel concerns that vaccine resistance could lead to more illnesses, hospitalizations and longer pandemics.
Therefore, Nikkei gave up the rise. “I don’t think there is a world where (effectiveness) is at the same level. Moderna CEO Bancel told the Financial Times in an interview. “I think it’s a material decline. I don’t know how much because I have to wait for the data. But all the scientists I talked to. .. It’s like “it wouldn’t be good,” Bancel said.
According to Moderna, the Omicron COVID19 vaccine may be ready by early 2022, and according to the World Health Organization (WHO), there is a “very high” risk of relapse. Bancel should be more clear at CNBC about the efficacy of the COVID19 vaccine against Omicron in about two weeks, and it could take months to ship an effective vaccine against a new variant he said.
WHO and scientists also state that it can take days or weeks to understand the severity of the mutant and the potential for avoiding protection from vaccine-induced immunity. John Wherry, director of the Penn Immunology Institute in Philadelphia, said.
Uncertainty over the new variant has sparked global alarm, with border closures casting a shadow over the emerging economic recovery from the two-year pandemic. News of its arrival wiped about $2 trillion off global stock values on Friday, but some calm was restored this week as investors awaited more data about Omicron. President Joe Biden’s remarks that the US would not reinstate lockdown orders also helped calm markets as comments from the Moderna CEO spooked investors.