FDA approves updated Pfizer, Moderna COVID vaccines: Here is what to know | Canada News Media
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FDA approves updated Pfizer, Moderna COVID vaccines: Here is what to know

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The US has authorised updated COVID vaccines that target a recently circulating Omicron variant.

The United States Food and Drug Administration (FDA) has approved updated COVID-19 vaccines, hoping to increase protection against the latest coronavirus strains and blunt any surge in the upcoming autumn and winter seasons in the northern hemisphere.

Here is what you need to know about the vaccines and their effectiveness:

Why do we have more COVID-19 vaccines?

The evolving coronavirus is not going away. Similar to how flu shots are updated each year, the FDA has told COVID vaccine manufacturers what the focus should be.

The updated vaccine shots had a single target: an Omicron descendant named XBB.1.5.

It is a big change as the vaccines offered since last year are combination shots targeting the original coronavirus strain and its Omicron variant detected much before the XBB.1.5, making them very outdated.

The FDA has approved the new vaccines by Pfizer and Moderna, while the Novarax version is still under review.

The authorisation also follows a recent rise in cases that came at a time when the new EG.5 subvariant of Omicron – nicknamed Eris – has begun to spread rapidly in the US and other countries.

Scientists have also raised concerns about the highly mutated BA.2.86 subvariant that has been detected in several countries.

When will the new COVID vaccines be available?

Pfizer and Moderna said their updated vaccines were expected to be available for most people in the US in the coming days.

An endorsement by Centers for Disease Control and Prevention (CDC) Director Mandy Cohen, expected in the coming days, should clear the way for the new shots. Cohen has said she expects the shots to roll out in September.

Who should get the new coronavirus vaccine?

The FDA has approved the shots for people ages 12 and above and authorised them for emergency use in children ages six months to 11 years.

Will they be effective enough?

Health officials are optimistic, barring a new virus mutation.

The XBB.1.5 variant has faded away in the months it took to tweak the vaccine. Today, there is a mix of different variants causing illness, and the most common ones are fairly close relatives.

Recent lab testing from vaccine makers and other research groups suggests the updated shots will offer crossover protection.

Earlier vaccinations or infections have continued to help prevent severe disease and death, but protection wanes over time, especially against milder infections, as the virus continually evolves.

Like earlier versions, they are expected to be most protective against COVID’s worst consequences rather than mild infection.

Can you get flu and COVID-19 shots at the same time?

Yes. The CDC says there is no difference in effectiveness or side effects if people get the shots simultaneously, although one in each arm might be more comfortable.

The CDC urges an annual flu shot for pretty much everyone aged six months and above.

 

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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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