Nurse Kath Olmstead, right, gives volunteer Melissa Harting, of Harpersville, N.Y., an injection as the world’s biggest study of a possible COVID-19 vaccine, developed by the National Institutes of Health and Moderna Inc., gets underway, on July 27, 2020, in Binghamton, N.Y.
Hans Pennink/The Associated Press
Ottawa has struck deals with two international drug companies to purchase their candidate COVID-19 vaccines for distribution in Canada, federal officials said on Wednesday.
Details of the agreements reached with Moderna and Pfizer Inc., including the cost of the vaccines, have not been disclosed, but Public Service and Procurement Canada Minister Anita Anand said that millions of doses have been ordered from the two companies for delivery in 2021. She added similar arrangements were being sought with other suppliers, with options to increase orders based on need.
“We are working on all possible fronts and diversifying our vaccine supply chain,” Ms. Anand said.
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Though the terms of each agreement vary, both vaccines will ultimately require Health Canada regulatory approval. This will depend, in part, on how they perform in clinical trials over the coming months.
During a news conference in Toronto, Ms. Anand said parallel efforts were under way to boost supplies of needles, syringes and alcohol swabs as part of “preparing Canada for mass vaccination” against COVID-19.
At the same briefing, Navdeep Bains, the Minister for Innovation, Science and Economic Development, said his department has formed a vaccine task force to provide the federal government with expert advice on which vaccines to prioritize for purchase on the global market and which Canadian-made vaccines to support with additional funding and production capacity to enable them to advance to clinical trials.
“Priority number one is to make sure that we have safe and effective vaccines for all Canadians,” Mr. Bains said. “Long term, we also want to build a strong industrial base for [Canada’s] life sciences sector.”
The widespread distribution of a successful vaccine is widely regard as the only viable solution to the COVID-19 pandemic.
Among the nearly 200 COVID-19 vaccines in development worldwide, about 30 have advanced to human testing. As of this week, six have now reached Phase 3 clinical trials designed to measure vaccine efficacy by administering doses to thousands or tens of thousands of individuals and tracking their rates of infection over time. Among the six are the two vaccines that Canada has so far arranged to purchase.
The vaccine developed by Moderna, a Massachusetts-based biotech company, yielded promising results in an early study published last month in the New England Journal of Medicine.
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Pfizer’s vaccine was developed jointly with BioNTech, a company based in Germany. That partnership has already stuck similar deals to supply its vaccine to Japan, the United States and Britain.
BioNTech confirmed that part of the manufacturing of the Canadian order would take place in Canada.
The federal announcement also included $56-million for Ottawa company Variation Biotechnologies Inc. and $3-million for Nova Scotia based IMV Inc. to support clinical trials of two made-in-Canada vaccine candidates. Earlier this year the federal government provided funding to Medicago, a Quebec company that last month launched Canada’s first clinical COVID-19 vaccine trial.
As of Wednesday, 133 out of 180 volunteers have been injected with the Medicago vaccine as part of a Phase 1 trial, which is primarily a safety test of the vaccine.
The multiple investments are a reflection of a broader awareness that ultimately several vaccines could be needed to defeat the COVID-19 pandemic on a global scale, said Alex Romanovschi, medical director for GSK Canada, which has partnered with Medicago on its trial.
“At the end of the day … no one company will be able to cover the entire world,” Dr. Romanovschi said.
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The federal government has inked deals with both Pfizer and Moderna to get access to millions of doses of their experimental COVID-19 vaccine candidates. Procurement Minister Anita Anand says the vaccines must still finish human trials and be determined safe and effective against COVID-19. If Health Canada approves them, she says, the deals would ensure Canadians are among the first in line for doses next year.The Canadian Press
While several international vaccines are further ahead in testing than the leading Canadian candidates, experts have argued that Canada should complement its international purchases with efforts to accelerate vaccine development and production capacity at home at a time when it’s not clear which vaccines will ultimately work best.
Prioritizing among domestic vaccine projects, as well as potential international partnerships, is part of the mandate of the 12-member vaccine task force, which began its work in early June.
“We’re making investments that are needed now to be sure that something works out,” said Joanne Langley, a professor of pediatrics and community health and epidemiology at Dalhousie University in Halifax.
Mark Lievonen, a former president of Sanofi Pasteur Ltd. who is co-chairing the task force with Dr. Langley, said he is leading a subcommittee that is looking specifically at manufacturing challenges that vaccines makers will face in Canada.
Canadian participation in vaccine production could become crucial if international shipments are delayed at their country of origin because of demand at home or for other reasons.
A hint of the problems that can arise when relying on international sources is evident in the continued holdup of the delivery of a vaccine from CanSino Biologics – a Chinese company that has partnered with Canada’s National Research Council – for a clinical trial in Halifax. That trial was to have started two months ago but the vaccine has so far not been released by Chinese customs.
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Mr. Bains declined to speculate on the cause of the delay but said the issue underscored the need to keep many options open.
Despite this outlook, not every COVID-19 vaccine candidate in Canada has managed to attract federal funding.
On Wednesday, Providence Therapeutics released results from preclincial tests of its mRNA vaccine candidate that is based on the same technology as the Moderna and Pfizer candidates. The company is now seeking support to move ahead with clinical trials.
Brad Sorenson, the company’s chief executive officer, said that the results show the vaccine has the potential to be as good or better than international competitors.
“The question is, does Canada want to be a buyer or a seller?” he said.
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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.
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