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Pfizer seeking FDA OK for COVID-19 vaccine booster dose – CP24 Toronto's Breaking News

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Pfizer is seeking U.S. approval of a booster dose of its two-shot COVID-19 vaccine.

The drugmaker said Wednesday that it has started the application process for a third dose of its vaccine for everyone ages 16 and older. The company said it will complete the application with the Food and Drug Administration by the end of this week.

The FDA earlier this month said transplant recipients or others with weakened immune systems can get an extra dose of Pfizer or Moderna vaccines. Then last week, U.S. health officials announced plans to give COVID-19 booster shots to all Americans to shore up their protection amid the surging delta variant of the coronavirus.

That plan drew criticism from scientists at the World Health Organization, who noted that poor countries are not getting enough vaccine for their initial rounds of shots.

Pfizer’s vaccine, jointly developed with Germany’s BioNTech, received full FDA approval earlier this week, also for those ages 16 and older. It had been given to that age group under an emergency use authorization, which is still the case for those ages 12 to 15.

More than 200 million doses of the Pfizer vaccine have been administered in the U.S. – and hundreds of millions more worldwide – since it got the green light in December.

The three vaccines used in the U.S. made by Pfizer, Moderna and Johnson & Johnson are still preventing hospitalizations and deaths from COVID-19. But the vaccines don’t appear quite as strong against the highly contagious delta variant as they were against earlier versions of the virus.

The U.S. booster plan calls for an extra dose eight months after people get their second shot of the Pfizer or Moderna vaccine.

Also on Wednesday, J&J said people who received a booster for its single-shot vaccine saw a big jump in virus-fighting antibodies. The drugmaker plans to talk to regulators about its booster.

Moderna is expected to do the same. It said Wednesday that it had completed its application to the FDA for full approval of its two-dose vaccine.

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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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