Moderna CEO hopes vaccine worldwide distribution from March or April 2021 - The CEO of Moderna, one of the most advanced companies in the race to develop a coronavirus vaccine, assured Wednesday that his company's vaccine will be ready for distribution in March or April 2021.
"I think the end of the first quarter or the beginning of the second is a reasonable forecast, based on what we currently know about our vaccine," said Moderna's first executive, Stéphane Bancel, at a conference organized by the Financial Times.
Bancel admitted that Moderna will not be able to submit the vaccine to the U.S. Food and Drug Agency (FDA) for its biological license before January 2021, which is the permission needed to distribute a drug to the general population. Therefore, the vaccine would not be available for general use until March.
The executive also explained that Moderna will not seek emergency authorization (U.S.) until November 25, a permit that would allow it to be used to treat front-line workers, including health workers.
"November 25 will be when we have enough data to submit the U.S. petition to the FDA, assuming that data security is good, because a vaccine should be considered safe," he assured at this conference, according to the FT.
This emergency authorization will be "an important medical tool to begin protecting high-risk people, such as health workers or the elderly," he added, according to CNN.
Bancel told Business Insider reporter Andrew Dunn that Moderna calculated it would be in November when they would know if their experimental vaccine works.
Moderna CEO hopes vaccine worldwide distribution
At the conference, Bancel explained that Moderna is adapting its production lines to a high demand. "We are trying to put ourselves at the head of the race, so that if the safety and effectiveness of the vaccine are good, manufacturing does not delay the availability of a vaccine for first emergency use," he explained.
US President Donald Trump, who has tested positive for coronavirus with his wife Melania, has announced for weeks the imminent arrival of a coronavirus vaccine, even when pharmacists claimed they were not ready yet.
During Tuesday's presidential debate, Trump said the United States was only "a few weeks away" from getting the vaccine.
"I've talked to Pfizer, I've talked to a lot of people you should talk to, like Moderna, Johnson & Johnson, and others. They can go much faster, " he told his rival, Democrat Joe Biden.
But Pfizer CEO Albert Bourla criticized Trump's statements, assuring in an internal memo to his employees that the evolution of his vaccine is "at the pace of science," according to The Associated Press.
"The only pressure we feel, which is strong, is that of millions of people, businesses and government administrations that depend on us," Bourla wrote in that internal communication.
The CEO of Moderna assured that they have not been subjected to any political pressure. "No one, since we started this race against the virus in January, from any party, company or government of any country, has asked us to go faster or slower," he said Wednesday.
FDA chief Stephen Hahn said at the same conference that the validation process of the agency he leads will be the same and that they will not accelerate it to get a vaccine ahead of time.
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Giving up the talent of millennials is the biggest mistake a company can make during a crisis, according to a senior executive
During coronavirus, layoffs or temporary employment regulation records (ERTEs) have been frequent. And among those who have stopped working are, on many occasions, young people.
In fact, 1 in 6 has become inactive during March, according to a study by the International Labour Organization.
Many firms believe that, in times of crisis, it is preferable to opt for maturity and experience and to do without millennials. However, this decision seems more like a way to solve a short-term problem than a bet on the future of the company, as Ryan Wong, the CEO of the Visier intelligence platform, which helps companies manage through data analytics, says.
In his opinion, opting for layoffs among young people is the biggest mistake companies can make during a crisis, as he writes in Fast Company.
To begin with, in a pandemic, adaptation is independent of the age of office: no one knows what to do. Investing in young talent is 6 times more profitable than investing in outposts, according to a report cited by Wong.
The reason these profiles give better results is that they have a greater career path, more risk tolerance and a better response and motivation in the companies that trust them.
In addition, the next generation of retirees is growing fast and, when they leave the market, demand will soar and there will be greater competition to get the most prepared. Therefore, it will not be the right time to hire.
However, it is a good opportunity to incorporate millennials and build a solid workforce, explains the CEO of Visier. It's something that makes companies more competitive.
Finally, Wong advises to imitate what big firms, such as Apple, do to recruit talent. That is, invest in it, as does the technological through its specific programs to train university students and then capture the best. Amazon is following the same path and has invested more than 590 million euros in courses and new trainings.
Wong believes that formation disbursements have a direct benefit to the good performance of corporations.