FDA Offers Emergency Use Authorization For Two Vaccines to Combat Covid-19

The FDA approved emergency use of two vaccines, one by Pfizer and one by Moderna to combat Covid-19

Pfizer and Moderna Vaccines to Prevent Covid-19

“With the availability of two vaccines now for the prevention of COVID-19, the FDA has taken another crucial step in the fight against this global pandemic that is causing vast numbers of hospitalizations and deaths in the United States each day.”

— Stephen M. Hahn, M.D and FDA Commissioner

On Dec 11, the U.S. Food and Drug Administration (FDA) issued an emergency use authorization (EUA) for a vaccine to prevent the coronavirus disease 2019 (COVID-19) that is caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) . The vaccine is approved for use in individuals aged 16 years of age and older. This emergency use authorization allows the Pfizer-BioNTech COVID-19 Vaccine, manufactured by the pharmaceuticals company Pfizer Inc. to be distributed in the U.S.

A week later, the FDA also approved an EUA for the vaccine developed by Moderna, another pharmaceutical company. The Moderna COVID-19 Vaccine contains messenger RNA (mRNA), which is genetic material. The vaccine contains a small piece of the SARS-CoV-2 virus’s mRNA that instructs cells in the body to make the virus’s distinctive “spike” protein. After a person receives this vaccine, their body produces copies of the spike protein, which does not cause disease, but instead, triggers the immune system to learn to react defensively, producing and developing an immune response against SARS-CoV-2.

While approving emergency use of both vaccines, the FDA also warned that the FDA does not have any FDA-approved vaccines and that taking this vaccine, while recommended, may not protect everyone. Still the clinical success rates are much higher than standard issue vaccines that hover around 70%. Clinical trials had initially shown a 95% success rate for the Pfizer vaccine and 94.1% success rate for the Moderna vaccine, giving researchers more confidence in recommending the vaccine for use.

Both the Pfizer-BioNTech COVID-19 Vaccine and the Moderna COVID-19 Vaccine are administered as a 2-dose series, 3 weeks apart, into the muscle.

Covid-19 Symptoms

COVID-19 disease is caused by a coronavirus called SARS-CoV-2, which has not been seen before. You can get COVID-19 through contact with another person who has the virus. Primarily a respiratory illness that can affect other organs, COVID-19 has results in varying symptoms in people from mild to severe illness. Symptoms do not appear immediately showing up 14 days after infection or exposure. Symptoms can include any of the following: fever or chills; cough; shortness of breath; fatigue; muscle or body aches; headache; new loss of taste or smell; sore throat; congestion or runny nose; nausea or vomiting; and diarrhea.

Side Effects of Taking a Vaccine

After receiving a second dosage of the vaccine, some recipients have reported side effects such as pain at the injection site, tiredness, headache, muscle pain, chills, joint pain, and fever.

More information is available on the FDA’s website and via this Pfizer PDF download and Moderna PDF download.

More data on the clinical trials are available at the New England Journal of Medicine.

Remote Work Expected to Persist in the Aftermath of the Pandemic

Remote work is here to stay with 33% of the American workforce continuing remote work, while another third has returned to work at the office.

Gallup has been tracking remote work by Americans over the course of the year through various polls and surveys. Their data reveals that many Americans have returned to working in the office or on site since September. Many are unconquered about exposure to COVID-19. Concern has gone down due to extensive cleaning measures in place, social distancing and the use of personal protective equipment.

Many workers want to continue to work remotely. In some companies, this is possible for services such as customer service that can be done remotely.

A few large employers like Google have taken the pre-emptive measure of working remotely through mid 2021, according to the WSJ. This affects the roughly 200,000 employees and contract workers at the company.

Remote Work to Persist In the Aftermath of the Pandemic

Remote work is most likely here to stay for the well educated, well paid workforce that can operate digitally. This change may also become permanent on some level for some companies where certain roles can be done remotely and in other cases, a hybrid of working at home and in office/on site. Some companies are considering a hybrid of remote and on-site with on-site work for three consecutive days and remote work for two days. Others are considering a shift to a four-day work model entirely. For companies that offer extensive customer service support on the phone and by email, working remotely can be very suitable. This can also cut down on office costs. Remote work for workers that work online is more feasible than for those with physical hands-on jobs on site.

The downsides of a more remote work force can be fewer face to face interactions, and less of a community. Some companies like Netflix are eager to return to full time work on site. Netflix CEO Reed Hastings has said that working from home does not have any positive effects and makes debating ideas harder. At the same time, the company’s 8,600 employees do not have to return to the office until most of them had received an approved coronavirus vaccine. Vaccines by Moderna and Pfizer are now seeking FDA approval and will become available shortly to the general public.

Despite the return to office with the city’s approval, New York’s famously vibrant Manhattan is still operating at low capacity with many office buildings unoccupied and workers reluctant to come back in. Businesses that need employees on site from factories to restaurants and salons have struggled with changing demand and risks of outbreaks even with plexiglass barriers and other protections in place.

Covid-19 Pandemic Accelerates American Adoption of Digital Commerce

From ordering groceries to buying cars online, more Americans are adopting digital commerce today than before — a change that will probably outlast the pandemic and become permanent

Image via WSJ, Source: Commerce Department via St. Louis Fed

With lockdowns, social distancing and other effects of the pandemic, more and more American consumers are turning to digital commerce to meet many day to day needs, from online grocery shopping to even medical appointments and classes. Pickup and delivery options are becoming more widespread. This shift may soon become permanent as many Americans find the shift online to be more convenient and less stressful. Avoiding rush-hour traffic to pick up groceries by having them delivered is an example of this.

Shifts from in-person to digital commerce are evident in:

grocery purchasing
movie streaming
restaurant pick up and delivery
curbside pickup

How Companies Are Adapting

Image via WSJ, Source: Euromonitor International's Voice of the Industry: Retailing Survey, August 2020

E-commerce now makes up 43 percent of all sales at Macy’s Inc., up from 25 percent before the pandemic. The company is working with Google Inc. to improve upon its search engine results. Macy’s has even added same-day delivery for some online orders.

In September, Whole Foods Market Inc., owned by Amazon.com Inc., opened its first online-only store in Brooklyn, N.Y., to be able to offer more food delivery options. Whole Foods has made pickup an option for all 500 U.S. stores. Amazon Fresh, the grocery store arm of Amazon, has increased delivery by 160 percent since March.

In addition, contactless payment methods have increased, removing the need for swiping or inserting a physical credit card. Both Visa and MasterCard report increased global sales transactions by contactless options. For Mastercard, contactless payment went up from 30 percent last year to 41 percent in the third quarter of this year.

Changes have also been widespread as social distancing measures have resulted in lower gym attendance and a move to home workouts. There has been an increase in purchasing equipment for workouts from stationary bikes to treadmills and more, as well as taking courses and using apps for online courses and bootcamps.

Many of these changes will remain in effect after the pandemic ends, as they have brought convenience that has led to accelerated adoption.