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Pfizer's COVID-19 vaccine timeline aims "to ensure public trust"

Pfizer says people might start getting COVID-19 vaccines before the end of the year, according to a timeline it laid out Friday.

The state of play: By the end of October, the company said it hopes to know whether the vaccine is effective, the Wall Street Journal reports.


  • By the 3rd week of November, it hopes to know whether it's safe for distribution.
  • By late November, the company could request an emergency use authorization.

The big picture: This reduces the odds of a vaccine being approved before the election, but also works to reduce concerns about vaccines being approved for political reasons.

  • “To ensure public trust and clear up a great deal of confusion, I believe it is essential for the public to understand our estimated timelines,” CEO Mr. Albert Bourla said today.

The bottom line: "The vaccine candidate from Pfizer and BioNTech is among the most advanced in development, along with candidates from AstraZeneca PLC, Moderna Inc. and Johnson & Johnson," the Journal notes.

  • "Yet trials for AstraZeneca and J&J’s vaccines are on hold, at least in the U.S., as safety issues are probed."
  • "The studies’ pauses, combined with the timeline laid out by Pfizer, suggest the company’s shot could be one of the first, if not the first, to be sent to the U.S. Food and Drug Administration for review."

Go deeper:

  • Operation Warp Speed's Moncef Slaoui on the new vaccine timeline. Listen here.
  • Trump administration announces deal with CVS, Walgreens to give COVID-19 vaccine to seniors.

The norms around science and politics are cracking

Crafting successful public health measures depends on the ability of top scientists to gather data and report their findings unrestricted to policymakers.

State of play: But concern has spiked among health experts and physicians over what they see as an assault on key science protections, particularly during a raging pandemic. And a move last week by President Trump, via an executive order, is triggering even more worries.

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Apple sets September quarter sales record despite pandemic

Apple on Thursday reported quarterly sales and earnings that narrowly exceeded analysts estimates as the iPhone maker continued to see strong demand amid the COVID-19 pandemic.

What they's saying: The company said response to new products, including the iPhone 12 has been "tremendously positive" but did not give a specific forecast for the current quarter.

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Podcast: The vaccine race turns toward nationalism

The coronavirus pandemic is worsening, both in the U.S. and abroad, with cases, hospitalizations and deaths all rising.

Axios Re:Cap digs into the state of global vaccine development — including why the U.S. and China seem to going at it alone — with medicinal chemist and biotech blogger Derek Lowe.

How central banks can save the world

The trillion-dollar gap between actual GDP and potential GDP is a gap made up of misery, unemployment, and unfulfilled promise. It's also a gap that can be eradicated — if central banks embrace unconventional monetary policy.

  • That's the message from Eric Lonergan and Megan Greene, two economists who reject the idea that central banks have hit a "lower bound" on interest rates. In fact, they reject the idea that "interest rates" are a singular thing at all, and they fullthroatedly reject the idea — most recently put forward by New York Fed president Bill Dudley — that the Fed is "out of firepower."

Why it matters: If Lonergan and Greene are right, then central banks have effectively unlimited ammunition in their fight to increase inflation and employment. They are limited only by political will.

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Leon Black says he "made a terrible mistake" doing business with Jeffrey Epstein

Apollo Global Management CEO Leon Black on Wednesday said during an earnings call that he made a "terrible mistake" by employing Jeffrey Epstein to work on personal financial and philanthropic services.

Why it matters: Apollo is one of the world's largest private equity firms, and already has lost at least one major client over Black's involvement with Epstein.

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Jeremy Corbyn suspended by U.K. Labour Party over anti-Semitism report

The U.K. Labour Party has suspended its former leader, Jeremy Corbyn, after a watchdog report found that the party failed to properly take action against allegations of anti-Semitism during his time in charge.

Why it matters: It represents a strong break by Keir Starmer, Labour's current leader, from the Corbyn era and one of the party's most persistent scandals.

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U.S. economy sees record growth in third quarter

The U.S. economy grew at a 33.1% annualized pace in the third quarter, the Commerce Department said on Thursday.

The state of play: The record growth follows easing of the coronavirus-driven lockdowns that pushed the economy to the worst-ever contraction — but GDP still remains well below its pre-pandemic level.

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Investors have nowhere to hide

The massive losses in oil prices and U.S. and European equities were not countered by gains in traditional safe-haven assets on Wednesday.

Why it matters: The unusual movement in typical hedging tools like bonds, precious metals and currencies means they are not providing investors an asset that will appreciate in the event of a major equity selloff.

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