German pharmaceutical company BioNTech is confident that its coronavirus vaccine works against the new U.K. variant, but further studies are needed to be completely sure, its chief executive said Tuesday.
The variant, detected mainly in London and the southeast of England in recent weeks, has sparked concern worldwide because of signs that it may spread more easily. While there is no indication it causes more serious illness, numerous countries in Europe and beyond have restricted travel from the U.K. as a result.
“We don’t know at the moment if our vaccine is also able to provide protection against this new variant,” CEO Ugur Sahin told a news conference the day after the vaccine was approved for use in the European Union. “But scientifically, it is highly likely that the immune response by this vaccine also can deal with the new virus variants.”
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Sahin said that the proteins on the U.K. variant are 99 per cent the same as on the prevailing strains, and therefore BioNTech has “scientific confidence” that its vaccine will be effective.
“But we will know it only if the experiment is done and we will need about two weeks from now to get the data,” he said. “The likelihood that our vaccine works … is relatively high.”
Should the vaccine need to be adjusted for the new variant the company could do so in about 6 weeks, Sahin said, though regulators might have to approve the changes before the shots can be used.
Having to adjust the vaccine would be a blow for the rollout of immunization campaigns and rein in the pandemic that has so far killed more than 1.7 million people worldwide.
4:05 Coronavirus: WHO says new virus strain from U.K. being studied
Coronavirus: WHO says new virus strain from U.K. being studied
BioNTech’s vaccine, which was developed together with U.S. pharmaceutical company Pfizer, has been authorized for use in more than 45 countries including Britain, the United States and the EU. Hundreds of thousands of people have already received the shots.
The companies submitted data to regulators showing the vaccine, which goes by the brand name COMIRNATY in Europe, is 95 per cent effective in preventing infection with COVID-19.
“All countries across the EU that have requested doses will receive them in the next five days, the very initial supply, and that will be followed up next week with further supplies,” said Sean Marett, BioNTech’s chief commercial officer.
Several EU countries have said they plan to start vaccinating on Sunday. Germany’s health minister, Jens Spahn, said he expects the country to receive more than 1.3 million doses by the end of this year.
Germany is among the European countries that have banned flights from the U.K. because of the new variant there.
“We want to avoid for as long as we can that a possibly dangerous virus variant spreads to continental Europe,” said Spahn.
But Lothar Wieler, the head of Germany’s national disease control centre, said it was very likely the U.K. variant is already circulating in Germany.
Wieler, who heads the Robert Koch Institute, said it was common for viruses’ genetic material to change, and that can affect how transmissible they are.
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“Whether that is really the case with the variant in England is not yet entirely clear,” Wieler said. “What is clear is that the more widely viruses spread, the more opportunity they have to change.”
A leading German virologist who was initially skeptical about reports that the strain was much more contagious voiced concern after seeing further data. Christian Drosten, a professor of virology at Berlin’s Charite hospital, tweeted that “unfortunately it doesn’t look good.”
But Drosten added: “What is positive is that cases with the mutation so far only increased in areas where the overall incidence was high or rising. So contact reduction also works against the spread of the mutation.”
0:34 Coronavirus: Biden pick for surgeon general says ‘no reason to believe’ vaccines won’t be effective on new strain
Coronavirus: Biden pick for surgeon general says ‘no reason to believe’ vaccines won’t be effective on new strain
TORONTO – Canada Goose Holdings Inc. says it has signed a deal that will result in the creation of its first eyewear collection.
The deal announced on Thursday by the Toronto-based luxury apparel company comes in the form of an exclusive, long-term global licensing agreement with Marchon Eyewear Inc.
The terms and value of the agreement were not disclosed, but Marchon produces eyewear for brands including Lacoste, Nike, Calvin Klein, Ferragamo, Longchamp and Zeiss.
Marchon plans to roll out both sunglasses and optical wear under the Canada Goose name next spring, starting in North America.
Canada Goose says the eyewear will be sold through optical retailers, department stores, Canada Goose shops and its website.
Canada Goose CEO Dani Reiss told The Canadian Press in August that he envisioned his company eventually expanding into eyewear and luggage.
This report by The Canadian Press was first published Sept. 19, 2024.
Almost seven years since news broke of an alleged conspiracy to fix the price of packaged bread across Canada, the saga isn’t over: the Competition Bureau continues to investigate the companies that may have been involved, and two class-action lawsuits continue to work their way through the courts.
Here’s a timeline of key events in the bread price-fixing case.
Oct. 31, 2017: The Competition Bureau says it’s investigating allegations of bread price-fixing and that it was granted search warrants in the case. Several grocers confirm they are co-operating in the probe.
Dec. 19, 2017: Loblaw and George Weston say they participated in an “industry-wide price-fixing arrangement” to raise the price of packaged bread. The companies say they have been co-operating in the Competition Bureau’s investigation since March 2015, when they self-reported to the bureau upon discovering anti-competitive behaviour, and are receiving immunity from prosecution. They announce they are offering $25 gift cards to customers amid the ongoing investigation into alleged bread price-fixing.
Jan. 31, 2018: In court documents, the Competition Bureau says at least $1.50 was added to the price of a loaf of bread between about 2001 and 2016.
Dec. 20, 2019: A class-action lawsuit in a Quebec court against multiple grocers and food companies is certified against a number of companies allegedly involved in bread price-fixing, including Loblaw, George Weston, Metro, Sobeys, Walmart Canada, Canada Bread and Giant Tiger (which have all denied involvement, except for Loblaw and George Weston, which later settled with the plaintiffs).
Dec. 31, 2021: A class-action lawsuit in an Ontario court covering all Canadian residents except those in Quebec who bought packaged bread from a company named in the suit is certified against roughly the same group of companies.
June 21, 2023: Bakery giant Canada Bread Co. is fined $50 million after pleading guilty to four counts of price-fixing under the Competition Act as part of the Competition Bureau’s ongoing investigation.
Oct. 25 2023: Canada Bread files a statement of defence in the Ontario class action denying participating in the alleged conspiracy and saying any anti-competitive behaviour it participated in was at the direction and to the benefit of its then-majority owner Maple Leaf Foods, which is not a defendant in the case (neither is its current owner Grupo Bimbo). Maple Leaf calls Canada Bread’s accusations “baseless.”
Dec. 20, 2023: Metro files new documents in the Ontario class action accusing Loblaw and its parent company George Weston of conspiring to implicate it in the alleged scheme, denying involvement. Sobeys has made a similar claim. The two companies deny the allegations.
July 25, 2024: Loblaw and George Weston say they agreed to pay a combined $500 million to settle both the Ontario and Quebec class-action lawsuits. Loblaw’s share of the settlement includes a $96-million credit for the gift cards it gave out years earlier.
Sept. 12, 2024: Canada Bread files new documents in Ontario court as part of the class action, claiming Maple Leaf used it as a “shield” to avoid liability in the alleged scheme. Maple Leaf was a majority shareholder of Canada Bread until 2014, and the company claims it’s liable for any price-fixing activity. Maple Leaf refutes the claims.
This report by The Canadian Press was first published Sept. 19, 2024.
Companies in this story: (TSX:L, TSX:MFI, TSX:MRU, TSX:EMP.A, TSX:WN)
TORONTO – TD Bank Group, which is mired in a money laundering scandal in the U.S., says chief executive Bharat Masrani will retire next year.
Masrani, who will retire officially on April 10, 2025, says the bank’s, “anti-money laundering challenges,” took place on his watch and he takes full responsibility.
The bank named Raymond Chun, TD’s group head, Canadian personal banking, as his successor.
As part of a transition plan, Chun will become chief operating officer on Nov. 1 before taking over the top job when Masrani steps down at the bank’s annual meeting next year.
TD also announced that Riaz Ahmed, group head, wholesale banking and president and CEO of TD Securities, will retire at the end of January 2025.
TD has taken billions in charges related to ongoing U.S. investigations into the failure of its anti-money laundering program.
This report by The Canadian Press was first published Sept. 19, 2024.
