US officials are working with Pfizer Inc to help maximize production capacity for its COVID-19 vaccine after the drugmaker told them it may be facing production challenges, US Secretary of Health and Human Services Alex Azar said in a Wednesday press call.
Pfizer did not immediately respond to a request for comment, but its Chief Executive Albert Bourla told CNBC earlier this week the company was asking the US government to use the Defense Production Act to relieve some “critical supply limitations,” particularly in some components. He did not provide further details on the areas of shortage.
Officials did not outline what the specific manufacturing challenges were. They said they are very familiar with the manufacturing materials and equipment needed to make vaccines based on their work with other drugmakers.
Trump administration to withhold Medicaid funding from California over abortion insurance requirement
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Americans are draining their checking accounts as stimulus talks drag (SPY +0.1%). Low oil prices force Saudi Arabia to cut 2021 budget plan.
Here is the current market situation from CNN Money
North and South American markets are mixed today. The IPC is up 0.70% while the S&P 500 gains 0.17%. The Bovespa is off 0.37%.
What Is Moving the Markets
Here are the headlines moving the markets.
Low Oil Prices Force Saudi Arabia To Cut 2021 Budget Plan Saudi Arabia reduced its budget plan for 2021 by 7 percent from this years in response to the economic fallout of the pandemic, which pushed oil prices to multi-year lows. Reuters reported that Riyadh will spend some $264 billion next year, or 990 billion riyals, as it battles a substantial deficit resulting from the latest oil price collapse. Earlier this year, the Kingdom was forced by oil market circumstances to implement some unpopular austerity measures, including a triple increase in value-added tax and the cancellation of so-c
California orders 5,000 body bags while Colorado and New Mexico bring in refrigerated trucks on second day of vaccine rollout - as US hospitalizations reach a record 112,816 and new daily fatalities surge to more than 3k
Nationwide, there were 3,019 new deaths reported on Tuesday. It is only the third time daily deaths have exceeded 3,000 fatalities throughout the pandemic and all three have occurred in the last week
There were 198,357 new confirmed cases on Tuesday and nearly 113,000 people nationwide currently hospitalized with the virus - the highest number at any point during the pandemic
California Governor Gavin Newsom warned of the possibility of thousands of deaths in the coming weeks as the state faces its most intense coronavirus surge yet
China will suspend inbound international flights if five people onboard test positive for coronavirus
From CNN s Eric Cheung in Hong Kong
A security guard watches over the empty international arrivals channel at Beijing airport on November 6. Greg Baker/AFP/Getty Images
China will suspend inbound international flight routes if five or more people test positive for Covid-19 when they land, the Civil Aviation Administration of China said in a statement on Wednesday.
Under the new rules, if five or more passengers test positive for Covid-19 after arriving in China on a flight, the airline company will be banned from running those flights for two weeks, it said.
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