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Moderna says its low-dose COVID-19 vaccine works for kids under 6 – CP24 Toronto's Breaking News

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Lauran Neergaard, The Associated Press


Published Wednesday, March 23, 2022 8:30AM EDT


Last Updated Wednesday, March 23, 2022 2:39PM EDT

Moderna’s COVID-19 vaccine works in babies, toddlers and preschoolers, the company announced Wednesday – a development that could pave the way for the littlest kids to be vaccinated by summer if regulators agree.

Moderna said that in the coming weeks it would ask regulators in the U.S. and Europe to authorize two small-dose shots for youngsters under 6. The company also is seeking to have larger doses cleared for older children and teens in the U.S.

The announcement is positive news for parents who have anxiously awaited protection for younger tots and been continuously disappointed by setbacks and confusion over which shots might work and when. The nation’s 18 million children under 5 are the only age group not yet eligible for vaccination.

Moderna says early study results show tots develop high levels of virus-fighting antibodies from shots containing a quarter of the dose given to adults. Once Moderna submits its full data, the U.S. Food and Drug Administration will have to determine if that important marker means the youngsters are as protected against severe illness as adults.

“The vaccine provides the same level of protection against COVID in young kids as it does in adults. We think that’s good news,” Dr. Stephen Hoge, Moderna’s president, told The Associated Press.

But that key antibody finding isn’t the whole story. COVID-19 vaccines aren’t as effective against the super-contagious omicron mutant – in people of any age – and Moderna’s study found the same trend. There were no severe illnesses during the trial but the vaccine was only about 44% effective at preventing milder infections in babies up to age 2, and nearly 38% effective in the preschoolers.

“Not a home run” but the shots still could be helpful for the youngest children, said Dr. Jesse Goodman of Georgetown University, a former FDA vaccine chief. Goodman said the high antibody levels seen in the study “should translate into higher efficacy against severe infections.”

Some parents say even a little protection would be better than leaving their youngest children unvaccinated.

“I don’t care if it’s even 15 or 20%,” said Lauren Felitti of Gaithersburg, Maryland. Her 4-year-old son Aiden, who’s at extra risk because of a heart condition, was hospitalized for eight days with COVID-19 and she’s anxious to vaccinate him to lessen the chance of a reinfection.

“It was very scary,” Felitti said. “If there’s a chance that I’m able to keep him protected, even if it’s a small chance, then I’m all for it.”

Competitor Pfizer currently offers kid-size doses for school-age children and full-strength shots for those 12 and older. And the company is testing even smaller doses for children under 5 but had to add a third shot to its study when two didn’t prove strong enough. Those results are expected by early April.

If the FDA eventually authorizes vaccinations for little kids from either company, there still would be another hurdle. The Centers for Disease Control and Prevention recommends who should get them – and Goodman said there may be debate about shots for higher-risk children or everyone under 5.

Vaccinating the littlest “has been somewhat of a moving target over the last couple of months,” Dr. Bill Muller of Northwestern University, who is helping study Moderna’s pediatric doses, said in an interview before the company released its findings. “There’s still, I think, a lingering urgency to try to get that done as soon as possible.”

While COVID-19 generally isn’t as dangerous to youngsters as to adults, some do become severely ill. The CDC says about 400 children younger than 5 have died from COVID-19 since the pandemic’s start. The omicron variant hit children especially hard, with those under 5 hospitalized at higher rates than at the peak of the previous delta surge.

The younger the child, the smaller the dose being tested. Moderna enrolled about 6,900 kids under 6 – including babies as young as 6 months – in a study of the 25-microgram doses.

While the study wasn’t large enough to detect very rare side effects, Moderna said the small doses were safe and that mild fevers, like those associated with other common pediatric vaccines, were the main reaction.

Hudson Diener, 3, only briefly cried when getting test doses at Stony Brook Medicine in Commack, New York. His parents welcomed the study results and hope to learn that Hudson received the vaccine and not dummy shots.

“We are really hoping to get the answer we’re looking for soon so we can take a deep breath,” said Hudson’s mom, Ilana Diener. Wednesday’s news should “hopefully be a step closer for his age group to be eligible for the vaccine very soon.”

Boosters have proved crucial for adults to fight omicron and Moderna currently is testing those doses for children as well – either a third shot of the original vaccine or an extra dose that combines protection against the original virus and the omicron variant.

Parents may find it confusing that Moderna is seeking to vaccinate the youngest children before it’s cleared to vaccinate teens. While other countries already have allowed Moderna’s shots to be used in children as young as 6, the U.S. has limited its vaccine to adults.

The FDA hasn’t ruled on Moderna’s earlier request to expand its shots to 12- to 17-year-olds because of concern about a very rare side effect. Heart inflammation sometimes occurs in teens and young adults, mostly males, after receiving either the Pfizer or Moderna vaccines. Moderna is getting extra scrutiny because its shots are a far higher dose than Pfizer’s.

The company said Wednesday that, armed with additional evidence, it is updating its FDA application for teen shots and requesting a green light for 6- to 11-year-olds, too. Hoge said he’s optimistic the company will be able to offer its vaccine “across all age groups in the United States by the summer.”

Moderna says its original adult dose – two 100-microgram shots – is safe and effective in 12- to 17-year-olds. For elementary school-age kids, it’s using half the adult dose.

About 1.5 million adolescents have used the Moderna vaccine in other countries, “and so far we’ve seen very reassuring safety from that experience,” Hoge said.

The heart risk also seems linked to puberty, and regulators in Canada, Europe and elsewhere recently expanded Moderna vaccinations to kids as young as 6.

“That concern has not been seen in the younger children,” said Northwestern’s Muller.

AP video journalist Emma H. Tobin in New York City and reporter Ben Finley in Norfolk, Virginia, contributed to this report.

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

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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.

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Dollarama keeping an eye on competitors as Loblaw launches new ultra-discount chain

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Dollarama Inc.’s food aisles may have expanded far beyond sweet treats or piles of gum by the checkout counter in recent years, but its chief executive maintains his company is “not in the grocery business,” even if it’s keeping an eye on the sector.

“It’s just one small part of our store,” Neil Rossy told analysts on a Wednesday call, where he was questioned about the company’s food merchandise and rivals playing in the same space.

“We will keep an eye on all retailers — like all retailers keep an eye on us — to make sure that we’re competitive and we understand what’s out there.”

Over the last decade and as consumers have more recently sought deals, Dollarama’s food merchandise has expanded to include bread and pantry staples like cereal, rice and pasta sold at prices on par or below supermarkets.

However, the competition in the discount segment of the market Dollarama operates in intensified recently when the country’s biggest grocery chain began piloting a new ultra-discount store.

The No Name stores being tested by Loblaw Cos. Ltd. in Windsor, St. Catharines and Brockville, Ont., are billed as 20 per cent cheaper than discount retail competitors including No Frills. The grocery giant is able to offer such cost savings by relying on a smaller store footprint, fewer chilled products and a hearty range of No Name merchandise.

Though Rossy brushed off notions that his company is a supermarket challenger, grocers aren’t off his radar.

“All retailers in Canada are realistic about the fact that everyone is everyone’s competition on any given item or category,” he said.

Rossy declined to reveal how much of the chain’s sales would overlap with Loblaw or the food category, arguing the vast variety of items Dollarama sells is its strength rather than its grocery products alone.

“What makes Dollarama Dollarama is a very wide assortment of different departments that somewhat represent the old five-and-dime local convenience store,” he said.

The breadth of Dollarama’s offerings helped carry the company to a second-quarter profit of $285.9 million, up from $245.8 million in the same quarter last year as its sales rose 7.4 per cent.

The retailer said Wednesday the profit amounted to $1.02 per diluted share for the 13-week period ended July 28, up from 86 cents per diluted share a year earlier.

The period the quarter covers includes the start of summer, when Rossy said the weather was “terrible.”

“The weather got slightly better towards the end of the summer and our sales certainly increased, but not enough to make up for the season’s horrible start,” he said.

Sales totalled $1.56 billion for the quarter, up from $1.46 billion in the same quarter last year.

Comparable store sales, a key metric for retailers, increased 4.7 per cent, while the average transaction was down2.2 per cent and traffic was up seven per cent, RBC analyst Irene Nattel pointed out.

She told investors in a note that the numbers reflect “solid demand as cautious consumers focus on core consumables and everyday essentials.”

Analysts have attributed such behaviour to interest rates that have been slow to drop and high prices of key consumer goods, which are weighing on household budgets.

To cope, many Canadians have spent more time seeking deals, trading down to more affordable brands and forgoing small luxuries they would treat themselves to in better economic times.

“When people feel squeezed, they tend to shy away from discretionary, focus on the basics,” Rossy said. “When people are feeling good about their wallet, they tend to be more lax about the basics and more willing to spend on discretionary.”

The current economic situation has drawn in not just the average Canadian looking to save a buck or two, but also wealthier consumers.

“When the entire economy is feeling slightly squeezed, we get more consumers who might not have to or want to shop at a Dollarama generally or who enjoy shopping at a Dollarama but have the luxury of not having to worry about the price in some other store that they happen to be standing in that has those goods,” Rossy said.

“Well, when times are tougher, they’ll consider the extra five minutes to go to the store next door.”

This report by The Canadian Press was first published Sept. 11, 2024.

Companies in this story: (TSX:DOL)

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U.S. regulator fines TD Bank US$28M for faulty consumer reports

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TORONTO – The U.S. Consumer Financial Protection Bureau has ordered TD Bank Group to pay US$28 million for repeatedly sharing inaccurate, negative information about its customers to consumer reporting companies.

The agency says TD has to pay US$7.76 million in total to tens of thousands of victims of its illegal actions, along with a US$20 million civil penalty.

It says TD shared information that contained systemic errors about credit card and bank deposit accounts to consumer reporting companies, which can include credit reports as well as screening reports for tenants and employees and other background checks.

CFPB director Rohit Chopra says in a statement that TD threatened the consumer reports of customers with fraudulent information then “barely lifted a finger to fix it,” and that regulators will need to “focus major attention” on TD Bank to change its course.

TD says in a statement it self-identified these issues and proactively worked to improve its practices, and that it is committed to delivering on its responsibilities to its customers.

The bank also faces scrutiny in the U.S. over its anti-money laundering program where it expects to pay more than US$3 billion in monetary penalties to resolve.

This report by The Canadian Press was first published Sept. 11, 2024.

Companies in this story: (TSX:TD)

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