SYDNEY: The head of drugmaker Moderna said COVID-19 vaccines are unlikely to be as effective against the omicron variant of the coronavirus as they have been previously, sparking fresh worry in financial markets about the trajectory of the pandemic.
“There is no world, I think, where (the effectiveness) is the same level . . . we had with Delta,” Moderna Chief Executive Stéphane Bancel told the Financial Times.
“I think it’s going to be a material drop. I just don’t know how much because we need to wait for the data. But all the scientists I’ve talked to . . . are like ‘this is not going to be good.’“
Vaccine resistance could lead to more sickness and hospitalizations and prolong the pandemic, and his comments triggered selling in growth-exposed assets like oil, stocks and the Australian dollar.
Bancel added that the high number of mutations on the protein spike the virus uses to infect human cells meant it was likely the current crop of vaccines would need to be modified.
He had earlier said on CNBC that it could take months to begin shipping a vaccine that does work against omicron.
Fear of the new variant, despite a lack of information about its severity, has already triggered delays to some economic reopening plans and the reimposition of some travel and movement restrictions.
Moderna CEO says vaccines likely less effective against omicron — FT
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Moderna CEO says vaccines likely less effective against omicron — FT
- Drugmaker CEO warns of “material drop” in vaccine effectiveness, mutations mean existing vaccines likely need modifying
‘Doomsday Clock’ moves closer to midnight over threats from nukes, climate change, AI
- At the end of the Cold War, the clock was as close as 17 minutes to midnight. In the past few years, to address rapid global changes, the group has changed from counting down the minutes until midnight to counting down the seconds
WASHINGTON: Earth is closer than it’s ever been to destruction as Russia, China, the US and other countries become “increasingly aggressive, adversarial, and nationalistic,” a science-oriented advocacy group said Tuesday as it advanced its “Doomsday Clock” to 85 seconds till midnight.
The Bulletin of the Atomic Scientist members had an initial demonstration on Friday and then announced their results on Tuesday.
The scientists cited risks of nuclear war, climate change, potential misuse of biotechnology and the increasing use of artificial intelligence without adequate controls as it made the annual announcement, which rates how close humanity is from ending.
Last year the clock advanced to 89 seconds to midnight.
Since then, “hard-won global understandings are collapsing, accelerating a winner-takes-all great power competition and undermining the international cooperation” needed to reduce existential risks, the group said.
They worry about the threat of escalating conflicts involving nuclear-armed countries, citing the Russia-Ukraine war, May’s conflict between India and Pakistan and whether Iran is capable of developing nuclear weapons after strikes last summer by the US and Israel.
International trust and cooperation is essential because, “if the world splinters into an us-versus-them, zero-sum approach, it increases the likelihood that we all lose,” said Daniel Holz, chair of the group’s science and security board.
The group also highlighted droughts, heat waves and floods linked to global warming, as well as the failure of nations to adopt meaningful agreements to fight global warming — singling out US President Donald Trump’s efforts to boost fossil fuels and hobble renewable energy production.
Starting in 1947, the advocacy group used a clock to symbolize the potential and even likelihood of people doing something to end humanity.
At the end of the Cold War, it was as close as 17 minutes to midnight. In the past few years, to address rapid global changes, the group has changed from counting down the minutes until midnight to counting down the seconds.
The group said the clock could be turned back if leaders and nations worked together to address existential risks.
