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China OKs 1st homegrown vaccine as COVID-19 surges globally – World News – Castanet.net

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China authorized its first homegrown COVID-19 vaccine for general use Thursday, adding another shot that could see wide use in poorer countries as the virus surges back around the globe.

The Sinopharm vaccine had already been given to groups such as health care professionals and essential workers under emergency-use guidelines as part of China’s program to inoculate 50 million people before the Lunar New Year holiday in February. But the go-ahead should allow it to be supplied more broadly at home and moves Beijing closer to being able to ship it abroad. It comes one day after British regulators authorized AstraZeneca’s inexpensive and easy-to-handle vaccine.

Both shots have been closely watched by developing countries, many of which have been unable to secure the Pfizer and Moderna doses being snapped up by rich nations. Pakistan’s science minister said Thursday that his government will buy 1.2 million doses of a Sinopharm shot, two days after its death toll topped 10,000.

The greenlight came a day after the state-owned company announced that preliminary data from last-stage trials had shown it to be 79.3% effective. That announcement did not detail the size of the control group, how many people were vaccinated and at what point the efficacy rate was reached after injection, and experts have cautioned that trial data needs to be shared.

Officials have said the vaccine standards were developed in “close co-operation” with the World Health Organization. Securing WHO’s so-called pre-qualification could go some way toward assuring the rest of the world about the quality of Chinese vaccines, which already face a reputation problem back home. It would also open the path for the shots to be distributed in the global vaccine consortium, COVAX, and potentially in countries that don’t have their own regulatory agencies.

China is eager to ship its vaccines globally, driven by a desire to repair the damage to its image caused by the pandemic that started a year ago in the central city of Wuhan.

Technically, China granted conditional approval for the vaccine, meaning that research is still ongoing, and the company will be required to submit follow-up data as well as reports of any adverse effects after the vaccine is sold on the market, Chen Shifei, the deputy commissioner of the National Medical Products Administration, told a news conference. Final proof of its effectiveness will depend on publication of more data.

Sinopharm, which has another shot under development, is one of at least five Chinese developers that are in a global race to create vaccines for the disease that has killed more than 1.8 million people. While the Pfizer and Moderna shots have been greeted with much fanfare in the West, those shots must be stored at ultra-cold or freezer temperatures, complicating distribution.

The Sinopharm vaccine, like the AstraZeneca one, could be easier for countries around the world to handle since they can be stored at normal fridge temperatures.

Both shots, as well as Russia’s Sputnik, are expected to be supply much of the developing world. That means the cost will also be important. AstraZeneca is expected to cost about $2.50 a dose, while Russia has said its doses will be priced at $10 for the global market. Pfizer’s vaccine costs about $20, while Moderna’s is $15 to $25, based on agreements with the U.S. government.

Chinese officials declined to name a particular price and gave conflicting statements about it. One official said it would be affordable for the Chinese public, but another jumped in to clarify that it will be free. President Xi Jinping had previously vowed to donate a Chinese-made vaccine as a public good to the world.

The Sinopharm shot is already under mass production, though officials did not answer questions about current capacity. It has already been approved in the United Arab Emirates and Bahrain, and is slated for use next in Morocco.

Other countries have also been buying doses of another Chinese vaccine candidate, made by Sinovac Biotech. Turkey received shipments this week of 3 million doses, and Indonesia and Brazil have also purchased it.

Belarus and Argentina both launched mass vaccinations Wednesday using Russia’s vaccine, and Guinea has begun giving it to government officials.

In addition to the emergency vaccinations already underway in China, the country plans to start vaccinating high-risk population, such as seniors as well as people with existing chronic illnesses. Officials did not say what percentage of the population they will vaccinate in China.

“This is very exciting that there is another vaccine and one that can be distributed in locations that don’t have the cold chain,” said Ashley St. John, an immunologist at the Duke-NUS Medical School in Singapore. “But at the same time we have to temper the excitement. We have to understand the long term efficacy, effect on transmission and effect on severe disease.”

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Netflix’s subscriber growth slows as gains from password-sharing crackdown subside

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Netflix on Thursday reported that its subscriber growth slowed dramatically during the summer, a sign the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off.

The 5.1 million subscribers that Netflix added during the July-September period represented a 42% decline from the total gained during the same time last year. Even so, the company’s revenue and profit rose at a faster pace than analysts had projected, according to FactSet Research.

Netflix ended September with 282.7 million worldwide subscribers — far more than any other streaming service.

The Los Gatos, California, company earned $2.36 billion, or $5.40 per share, a 41% increase from the same time last year. Revenue climbed 15% from a year ago to $9.82 billion. Netflix management predicted the company’s revenue will rise at the same 15% year-over-year pace during the October-December period, slightly than better than analysts have been expecting.

The strong financial performance in the past quarter coupled with the upbeat forecast eclipsed any worries about slowing subscriber growth. Netflix’s stock price surged nearly 4% in extended trading after the numbers came out, building upon a more than 40% increase in the company’s shares so far this year.

The past quarter’s subscriber gains were the lowest posted in any three-month period since the beginning of last year. That drop-off indicates Netflix is shifting to a new phase after reaping the benefits from a ban on the once-rampant practice of sharing account passwords that enabled an estimated 100 million people watch its popular service without paying for it.

The crackdown, triggered by a rare loss of subscribers coming out of the pandemic in 2022, helped Netflix add 57 million subscribers from June 2022 through this June — an average of more than 7 million per quarter, while many of its industry rivals have been struggling as households curbed their discretionary spending.

Netflix’s gains also were propelled by a low-priced version of its service that included commercials for the first time in its history. The company still is only getting a small fraction of its revenue from the 2-year-old advertising push, but Netflix is intensifying its focus on that segment of its business to help boost its profits.

In a letter to shareholder, Netflix reiterated previous cautionary notes about its expansion into advertising, though the low-priced option including commercials has become its fastest growing segment.

“We have much more work to do improving our offering for advertisers, which will be a priority over the next few years,” Netflix management wrote in the letter.

As part of its evolution, Netflix has been increasingly supplementing its lineup of scripted TV series and movies with live programming, such as a Labor Day spectacle featuring renowned glutton Joey Chestnut setting a world record for gorging on hot dogs in a showdown with his longtime nemesis Takeru Kobayashi.

Netflix will be trying to attract more viewer during the current quarter with a Nov. 15 fight pitting former heavyweight champion Mike Tyson against Jake Paul, a YouTube sensation turned boxer, and two National Football League games on Christmas Day.

The Canadian Press. All rights reserved.

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