Coronavirus update
Covid-related news keeps on coming. Here are a few of the more important recent developments:
• The U.S. suffered its 500,000th death from the coronavirus on Feb. 22. That represents 19% of the global coronavirus deaths, despite the U.S. having just 4% of the world’s population. The pandemic contributed to the U.S. average life expectancy falling by a full year in 2020, the sharpest drop since World War 2.
• The budget committee from the U.S. House of Representatives cleared a new coronavirus relief bill worth $1.9 trillion. Despite spending about $4 trillion on pandemic-related assistance last year, the U.S. economy has continued to struggle with massive job losses and business closures.
• Johnson & Johnson ($163; JNJ) filed with the World Health Organization for emergency use of its coronavirus vaccine. The designation would allow J&J to supply its vaccine to developing countries. J&J’s vaccine requires just one shot and can be stored at normal refrigeration, clearing hurdles that complicate distribution of other versions.
• U.S. regulations say drugmakers should test in clinical trials any coronavirus vaccines that have been tweaked to address new variants. This process that could add months to the launch of updated vaccines.
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