adplus-dvertising
Connect with us

Business

Russia approves second virus vaccine after early trials

Published

 on

MOSCOW —
Russian authorities have given regulatory approval to a second coronavirus vaccine after early-stage studies, two months after a similar move prompted widespread criticism from scientists both at home and abroad.

Russian President Vladimir Putin made the announcement on Wednesday, during a televised meeting with government officials.

“We now need to increase production of the first vaccine and the second vaccine,” Putin said, adding that the priority was to supply the Russian market with the vaccines.

The peptide-based, two-shot vaccine, EpiVacCorona, was developed by the Vector Institute in Siberia and tested among 100 volunteers in early-stage, placebo-controlled human trials, which lasted more than two months and were completed two weeks ago. The volunteers were between 18 and 60 years old.

The scientists have yet to publish the results of the study. In comments to the media, scientists developing the vaccine said that it produced enough antibodies to protect the person who had it from the virus and that the immunity it creates could last for up to six months.

An advanced study involving tens of thousands of volunteers that is necessary to establish safety and effectiveness of the vaccine was scheduled to start in November or December.

Deputy Prime Minister Tatyana Golikova, who said earlier this week she took part in the early trials as a volunteer, said Wednesday that 40,000 people will take part in the advance studies of EpiVacCorona. It remained unclear whether the vaccine would be offered for a wider use while the trials are still ongoing.

Russia’s first vaccine, Sputnik V, was developed by the Moscow-based Gamaleya Institute and approved by the government on Aug. 11, after early trials among 76 volunteers were completed. Just like on Wednesday, Putin personally broke the news on national television and said one of his daughters had already been vaccinated, experienced slight side effects and developed antibodies.

As Russia boasted about being the first in the world to approve a vaccine, experts said that in line with established scientific protocol, much broader studies among tens of thousands of people were needed to ensure the safety and effectiveness of the vaccine before it is given widely.

Russian health authorities announced advanced trials of Sputnik V among 40,000 volunteers two weeks after it received government approval. Officials also said that vaccination of risk groups, such as doctors and teachers, will be carried out in parallel to the studies.

Golikova said Wednesday that 13,000 volunteers have so far enrolled in the studies of the Sputnik V vaccine.

The international criticism didn’t stop Russia from promoting Sputnik V abroad. Kirill Dmitriev, head of the Russian Direct Investment Fund that bankrolled the effort, said last month that the fund already has agreements with Mexico, India and Brazil, which ordered a total of 200 million doses, and dozens of other countries are interested in getting the vaccine.

Speaking at this year’s UN General Assembly, Putin offered to provide the Sputnik-V vaccine to UN staff for free. He described the offer as a response to popular demand: “Some colleagues from the UN have asked about this, and we will not remain indifferent to them.”

Russia has the world’s fourth largest coronavirus caseload with over 1.3 million infections. It has also reported over 23,000 deaths.

The outbreak in the country appeared to slow down in the summer, but the number of new infections started to grow rapidly last month. Over the past 11 days, Russian health officials have been reporting over 10,000 new cases every day. They registered a record number of 14,231 new cases on Wednesday.

Source:- CTV News

Source link

Business

Roots sees room for expansion in activewear, reports $5.2M Q2 loss and sales drop

Published

 on

 

TORONTO – Roots Corp. may have built its brand on all things comfy and cosy, but its CEO says activewear is now “really becoming a core part” of the brand.

The category, which at Roots spans leggings, tracksuits, sports bras and bike shorts, has seen such sustained double-digit growth that Meghan Roach plans to make it a key part of the business’ future.

“It’s an area … you will see us continue to expand upon,” she told analysts on a Friday call.

The Toronto-based retailer’s push into activewear has taken shape over many years and included several turns as the official designer and supplier of Team Canada’s Olympic uniform.

But consumers have had plenty of choice when it comes to workout gear and other apparel suited to their sporting needs. On top of the slew of athletic brands like Nike and Adidas, shoppers have also gravitated toward Lululemon Athletica Inc., Alo and Vuori, ramping up competition in the activewear category.

Roach feels Roots’ toehold in the category stems from the fit, feel and following its merchandise has cultivated.

“Our product really resonates with (shoppers) because you can wear it through multiple different use cases and occasions,” she said.

“We’ve been seeing customers come back again and again for some of these core products in our activewear collection.”

Her remarks came the same day as Roots revealed it lost $5.2 million in its latest quarter compared with a loss of $5.3 million in the same quarter last year.

The company said the second-quarter loss amounted to 13 cents per diluted share for the quarter ended Aug. 3, the same as a year earlier.

In presenting the results, Roach reminded analysts that the first half of the year is usually “seasonally small,” representing just 30 per cent of the company’s annual sales.

Sales for the second quarter totalled $47.7 million, down from $49.4 million in the same quarter last year.

The move lower came as direct-to-consumer sales amounted to $36.4 million, down from $37.1 million a year earlier, as comparable sales edged down 0.2 per cent.

The numbers reflect the fact that Roots continued to grapple with inventory challenges in the company’s Cooper fleece line that first cropped up in its previous quarter.

Roots recently began to use artificial intelligence to assist with daily inventory replenishments and said more tools helping with allocation will go live in the next quarter.

Beyond that time period, the company intends to keep exploring AI and renovate more of its stores.

It will also re-evaluate its design ranks.

Roots announced Friday that chief product officer Karuna Scheinfeld has stepped down.

Rather than fill the role, the company plans to hire senior level design talent with international experience in the outdoor and activewear sectors who will take on tasks previously done by the chief product officer.

This report by The Canadian Press was first published Sept. 13, 2024.

Companies in this story: (TSX:ROOT)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Business

Talks on today over HandyDART strike affecting vulnerable people in Metro Vancouver

Published

 on

 

VANCOUVER – Mediated talks between the union representing HandyDART workers in Metro Vancouver and its employer, Transdev, are set to resume today as a strike that has stopped most services drags into a second week.

No timeline has been set for the length of the negotiations, but Joe McCann, president of the Amalgamated Transit Union Local 1724, says they are willing to stay there as long as it takes, even if talks drag on all night.

About 600 employees of the door-to-door transit service for people unable to navigate the conventional transit system have been on strike since last Tuesday, pausing service for all but essential medical trips.

Hundreds of drivers rallied outside TransLink’s head office earlier this week, calling for the transportation provider to intervene in the dispute with Transdev, which was contracted to oversee HandyDART service.

Transdev said earlier this week that it will provide a reply to the union’s latest proposal on Thursday.

A statement from the company said it “strongly believes” that their employees deserve fair wages, and that a fair contract “must balance the needs of their employees, clients and taxpayers.”

This report by The Canadian Press was first published Sept. 12, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Business

Transat AT reports $39.9M Q3 loss compared with $57.3M profit a year earlier

Published

 on

 

MONTREAL – Travel company Transat AT Inc. reported a loss in its latest quarter compared with a profit a year earlier as its revenue edged lower.

The parent company of Air Transat says it lost $39.9 million or $1.03 per diluted share in its quarter ended July 31.

The result compared with a profit of $57.3 million or $1.49 per diluted share a year earlier.

Revenue in what was the company’s third quarter totalled $736.2 million, down from $746.3 million in the same quarter last year.

On an adjusted basis, Transat says it lost $1.10 per share in its latest quarter compared with an adjusted profit of $1.10 per share a year earlier.

Transat chief executive Annick Guérard says demand for leisure travel remains healthy, as evidenced by higher traffic, but consumers are increasingly price conscious given the current economic uncertainty.

This report by The Canadian Press was first published Sept. 12, 2024.

Companies in this story: (TSX:TRZ)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending