Coronavirus

Number of companies working on vaccine development and treatment for Co-Vid 19

cde.news desk 7 March 2020, 12:16 · 2 min read

epa08272673 People work at their workstations in Hytera factory in Shenzhen, Guangdong province, China, 05 March 2020. Established in 1993, Hytera is dedicated to providing customised and complete professional and private wireless communications solutions for government and public security, utility, transportation, enterprise & business to improve organisational efficiency and make the world safer. In 2017, Sepura Group PLC (in UK) and its subsidiary Teltronic S.A.U. (in Spain) became a part of Hytera in May, and Norsat International Inc. (in Canada) and its Sinclair Division became part of Hytera in July. During Covid-19 outbreak they are trying to keep their production which at the moment has reached about 90 percent of capacity and company is controlling and advising their employees about coronavirus protection on regular basis. EPA-EFE/ALEX PLAVEVSKI

A mix of legacy drugmakers and small startups have stepped forward with plans to develop vaccines or treatments that target the infection caused by the novel coronavirus.

COVID-19, which was first detected in December in Wuhan, China, has sickened more than 100,000 people worldwide and killed at least 3,400. There are no Food and Drug Administration-approved vaccines or therapies for the disease, Marketwatch reports.

Meanwhile, China’s overall exports contracted by 17.2 per cent in dollar terms in January and February, more than was expected by economists polled by Bloomberg. Imports fell by 4 per cent. China posted a trade deficit of $7.1bn in the first two months of the year, according to the Financial Times.

The coronavirus outbreak disrupted global supply chains, damped business activity and blocked transport across the world’s second-largest economy.

The Wall Street Journal reports that financial markets and economic forecasters are warning of rising risks for the U.S. and global economy, which were improving before the novel coronavirus spread from China around the world.

With so many unknowns surrounding the trajectory of the epidemic, and the response from government and business, forecasters cannot aspire to precision. But these four scenarios offer a way of tracing the potential effects through countries and industries, and assessing their order of magnitude, Bloomberg reports.

Via Financial Times / Bloomberg / Market Watch / Wall Street Journal