- ECONOMIC IMPACT -

Latest update: 02 December 

Many economists have cut their GDP forecasts. The 2020 consensus forecast for GDP growth is currently negative and many predict a recession.

The unemployment rate in South Africa reached a 17-year high of 30.8% in Q3 2020 as people started looking for jobs following the easing of coronavirus restrictions.

-4.4%

The IMF has revised its 2020 global GDP forecast to -4.4% from an estimate of -4.9% made in June.

33.1%

US real GDP grew by an annualised 33.1% in Q3 2020 according to the Commerce Department. 

Impact of Covid-19 on equity indices

- SECTOR IMPACT: PHARMA -

Latest update: 15 December 

Vaccine development

86%

The inactivated Covid-19 vaccine from Sinopharm, developed by the Beijing Institute of Biological Products, showed 86% efficacy in a Phase III trial conducted in the United Arab Emirates, according to the UAE Ministry of Health and Prevention.

40,000

Johnson & Johnson is reducing the number of Phase III trial participants for their Covid-19
vaccine from 60,000 to 40,000.

vaccine approvals

The US Food and Drug Administration (FDA) authorised Pfizer and BioNTech’s Covid-19 vaccine for emergency use in individuals ages 16 and older late on Friday 11 December, making it the first Covid-19 vaccine to roll out in the US.


The decision came after the Vaccines and Related Biological Products Advisory Committee to the FDA discussed Pfizer and BioNTech’s Phase III vaccine data and voted 17-4 (with one abstain) to recommend the vaccine for EUA on 10 December.


Vaccination started on 15 December, with an intensive care unit nurse in Queens being the first recipient of Pfizer/BioNTech's vaccine. Healthcare workers and elderly residents of long-term care homes are prioritized to be the first vaccine recipients, although states will decide individually on which groups to vaccinate first.

Key pharma market developments

Telemedicine 

Prior to the Covid-19 pandemic, the use of telemedicine by specialists was relatively low; however, 73% of specialists surveyed indicated that their use of telemedicine had increased as a result of the pandemic. Almost 75% of specialists indicated that they would use the technology in the future.


Clinical trials

German biotech CureVac has begun a Phase IIb/III study of its Covid-19 vaccine candidate CVnCoV. The study will take place in Europe and Latin America and will enroll 35,000 participants 18 years of age and older.


The development of an Australian vaccine candidate from the University of Queensland and CSL was terminated due to interference with HIV tests. The vaccine utilised the molecular clamp technology derived from HIV to stabilise the SARS-CoV-2 spike protein, which led to false-positive results in commonly used HIV tests.


Drug development 

The drug development landscape for Covid-19 is unique in that it has been negatively impacted by studies that are of low quality being used to justify use of drugs which rigorous studies do not support. These conflicts of data presentation have created conjecture about the reliability of data for Covid-19 therapeutics.

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