BitGou: Wednesday Morning Briefing: FDA faults quality control at plant making Trump-touted COVID-19 drug

What you need to know about the coronavirus today

FDA faults quality control at plant making COVID drug
U.S. drug inspectors uncovered serious quality control problems at an Eli Lilly plant that is ramping up to manufacture one of two promising COVID-19 drugs touted by President Trump as a “cure” for the disease, according to government documents and three sources familiar with the matter.

The Lilly antibody therapy, which is experimental and not yet approved by regulators, is similar to a drug from Regeneron Pharmaceuticals that was given to the president during his bout with COVID-19.

Trump has called for both therapies to become available immediately on an emergency basis.

Humidity affects aerosol spread
A Japanese supercomputer showed that humidity can have a large effect on the dispersion of virus particles, pointing to heightened contagion risks in dry, indoor conditions during the winter months.

The finding suggests that the use of humidifiers may help limit infections during times when window ventilation is not possible, according to a study released by research giant Riken and Kobe University.

The researchers used the Fugaku supercomputer to model the emission and flow of virus-like particles from infected people in a variety of indoor environments.

UK, Italy, Spain had high ‘excess deaths’ in first wave
Britain, Italy and Spain had the highest rates of so-called “excess deaths” from all causes, including COVID-19, among 21 developed countries during the first wave of the pandemic, an international study has found.

Some 206,000 more people died between mid-February and the end of May in the 21 countries in total than would have been expected to die had the pandemic not taken place - an 18% increase in deaths, scientists said.

England and Wales accounted for 28% of all the excess deaths, Italy for 24%, and Spain 22%.

Poland ‘on the brink of disaster’
Poland reported a record 6,526 new coronavirus infections and 116 deaths and doctors warned the healthcare system was becoming overloaded.

The country of 38 million has now recorded 141,804 confirmed coronavirus cases and 3,217 deaths.

“I don’t have any good information. We are on the brink of disaster,” immunologist Pawel Grzesiowski told private radio station RMF. He said Poland should be doing more testing, closing schools and supporting doctors in their fight against the pandemic.

Pope keeps his distance
Pope Francis stayed a safe distance from well-wishers at his weekly general audience on Wednesday, saying new rules aimed at curbing the coronavirus meant he had to hold back.

“I would like to, as I usually do, go down and get closer to greet you. But with the new regulations, it is better if we keep a distance,” Francis said from a stage.

“It often happens that when I go down, everybody gets close and piles up. And it’s a problem because there is a risk of infection. This way, everyone wearing their mask and maintaining their distance, we can go forward with the audiences.”

Track the global spread with our live graphic.

Breakingviews - Corona Capital: Semiconductors, ASOS, Qantas.
Read concise views on the pandemic’s financial fallout from Breakingviews columnists across the globe.

Reuters reporters and editors around the world are investigating the response to the coronavirus pandemic.

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Top Stories

U.S. Supreme Court nominee Amy Coney Barrett faces more grilling by senators, a day after fending off repeated efforts by Democrats to elicit clues about her views on the Affordable Care Act, abortion and same-sex marriage. Barrett, who is President Donald Trump’s third nominee to the Supreme Court, is set to answer two more rounds of senators’ queries on the third day of her Senate Judiciary Committee confirmation hearing.

Azerbaijan accused Armenia of trying to attack its gas and oil pipelines and warned of a “severe” response, as tensions mounted over a fraying ceasefire in the mountain enclave of Nagorno-Karabakh. Armenia has denied targeting Azeri pipelines, which supply world markets with oil and gas, but concern is growing over the failure of a four-day-old ceasefire to end the worst fighting in decades over the tiny territory in the South Caucasus.

The British government resisted a short lockdown for all of England, despite calls from the opposition to shut the country down for two weeks as a “circuit breaker”, a step which a new scientific study said could save thousands of lives. With cases rapidly rising, the British government opted this week for a three-tier system of local measures.

Thousands of Thai anti-government protesters and royalist supporters of King Maha Vajiralongkorn staged rival shows of force with political tension growing after three months of demonstrations. Anti-government demonstrators set off from the Democracy Monument for the government’s official compound, known as Government House, to demand the departure of Prime Minister Prayuth Chan-ocha, a former junta leader, and a new constitution. They have also called for reform of the monarchy.

Business

Exclusive: Huawei in talks to sell parts of its Honor smartphone business

Huawei is in talks with Digital China Group and other suitors to sell parts of its Honor smartphone unit in a deal that could fetch up to $3.7 billion, people with knowledge of the matter said.

4 min read

After two lost decades, U.S.'s weakest local economies may face worse from pandemic

A decade-long economic expansion did little to narrow the gaps between the United States’ prosperous and ailing areas, with thousands of “distressed” zip codes shedding jobs and businesses in a trend that laid the groundwork for the developing “K” shaped recovery from the coronavirus pandemic.

4 min read

Bank of America profit falls on higher provisions

Bank of America Corp reported a 15.8% drop in quarterly profit on Wednesday, hit by higher provisions for credit losses and a slump in performance in three of its four chief segments.

2 min read

Senator Warren slams Disney for layoffs, executives' salaries

Senator Elizabeth Warren slammed Walt Disney's move to lay off 28,000 workers while making shareholder payouts in the years leading up to the COVID-19 pandemic, demanding more information from company executives on the measures.

3 min read