Covid-19 briefing
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- ECONOMIC IMPACT -
Latest update: 21 October
Many economists have cut their GDP forecasts. The 2020 consensus forecast for GDP growth is currently negative and many predict a recession.
World Trade Organization forecasts the volume of world merchandise trade to shrink by 9.2% in 2020 followed by an estimated rise of 7.2% in 2021.
-4.4%
IMF has revised its 2020 global GDP forecast to -4.4% from an estimate of -4.9% made in June.
88-115 million
Covid-19 to push 88-115 million people into extreme poverty in 2020, according to the World Bank.
Impact of Covid-19 on equity indices
- SECTOR IMPACT: PHARMA -
Latest update: 10 November
Vaccine development
38%
The unproven technology of mRNA vaccines was seen to be the most promising by GlobalData survey respondents, with 38% reporting this may offer the best hope of addressing the outbreak. This is likely due to the rapid nature which saw mRNA vaccines enter the clinic.
$328m
Clover Biopharmaceuticals will receive up to $328m from the Coalition for Epidemic Preparedness Innovation for the late-stage development of its Covid-19 vaccine candidate.
clinical trial results
Pfizer and BioNTech announced positive results from the interim analysis of their Covid-19 vaccine candidate.
The vaccine showed greater than 90% efficacy in the first 94 confirmed Covid-19 cases that occurred in trial participants without prior SARS-CoV-2 infection, greatly exceeding the efficacy bar of 50% set by the US Food and Drug Administration.
The announcement comes less than one year since SARS-CoV-2 was identified and seven months after the companies started their first Phase I study. More than 43,000 participants from diverse backgrounds were enrolled in the Phase III trial.
However, the 90% efficacy reported in the interim analysis can still decrease in the final analysis, which will include 164 cases of confirmed Covid-19.
Key pharma market developments
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