No prizes for the losers in the race for the vaccine

However, he says the biggest long-term benefit from a rapid approval would be from limiting economic scarring.

This is the long-lasting damage caused by businesses buckling under the strain of the downturn and workers becoming unemployed as tectonic shifts reshape industries.

“Fewer businesses go under and structural unemployment stays a bit lower so the supply capacity and the ability of the economy to grow is not hurt as much,” Dales explains on the early vaccine scenario.

Firms going under waiting for a vaccine to arrive will make it “harder for the economy to grow because that business is no longer

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Corporate Insiders Pocket $1 Billion in Rush for Coronavirus Vaccine

On June 26, a small South San Francisco company called Vaxart made a surprise announcement: A coronavirus vaccine it was working on had been selected by the U.S. government to be part of Operation Warp Speed, the flagship federal initiative to quickly develop drugs to combat Covid-19.

Vaxart’s shares soared. Company insiders, who weeks earlier had received stock options worth a few million dollars, saw the value of those awards increase sixfold. And a hedge fund that partly controlled the company walked away with more than $200 million in instant profits.

The race is on to develop a coronavirus vaccine,

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Vaccine success set to put AstraZeneca in pole position

Andrew Baum, a healthcare analyst at Citi, believes that any future financial returns on a successful vaccine is unlikely to move the dial for a behemoth such as AstraZeneca, which is both the UK’s biggest drugs firm and the most valuable company on the FTSE with a £117bn market cap.

He says the biggest benefit is one that will stand it in good stead with global policymakers in the future. 

“The major return is political capital rather than financial capital,” Baum says. 

“Pascal has played this card particularly well, because not only has he very early on stated that he

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Coronavirus latest: WHO seeks millions of vaccine doses this year

The Nikkei Asian Review is tracking the spread of the new coronavirus that originated in the central Chinese city of Wuhan.

Global cases have reached 8,320,288, according to Johns Hopkins University.

The worldwide death toll has hit 447,628.

To see how the disease has spread, view our virus tracker charts:

(Source photo by AP) 

Here are the latest developments (Tokyo time):

Thursday, June 18

7:47 p.m. The World Health Organization’s chief scientist Soumya Swaminathan says the global body hopes hundreds of millions of doses of coronavirus vaccine can be produced this year, with two billion doses by the end

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