International

AstraZeneca hits snag in Covid drug development

AFP/Editor

Pharmaceutical giant AstraZeneca on Tuesday revealed it had hit a setback in trials of a treatment for Covid-19 symptoms.

The drug, made from a combination of two antibodies, failed its main goal to treat symptoms in exposed patients, the company said in a statement.

The treatment has been undergoing phase 3 or final-stage clinical trials to assess its safety and efficacy.

AstraZeneca said that 1,121 unvaccinated adults had been exposed to an infected person as part of the trial.

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Treatment AZD7442 reduced the risk of developing symptoms by only 33 percent — which was “not statistically significant”, it added.

The company is nevertheless continuing trials to assess whether the drug can prevent Covid or treat more severe symptoms.

The US government has funded the development of AZD7442 and has agreements to receive 700,000 doses.

Meanwhile, AstraZeneca’s Covid vaccine, which was developed with the University of Oxford, faced fresh safety doubts.

The jab has been suspended in several European countries over reports of rare blood clots.

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A top official in the European Medicines Agency was on Sunday reported as having suggested that it might be worth abandoning AstraZeneca’s vaccine if alternatives were available.

But the EMA said the body’s head of vaccine strategy, Marco Cavaleri, had been misrepresented, and that he believed its benefits outweigh its risks.

“The decision on its use in different populations and ages is the prerogative of the EU Member States, based on specific factors such as virus circulation and vaccine availability,” a spokeswoman said.

A study from British health authorities published on Monday found that two doses of AstraZeneca/Oxford or rival Pfizer/BioNTech vaccines stopped the need for in-patient treatment in more than 90 percent of cases of the Delta variant.

The UK government on Monday announced a four-week delay to the full lifting of coronavirus restrictions in England due to a surge in infections caused by Delta, which first appeared in India.

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International

US panel backs Trump-themed coin amid controversy

The United States Department of the Treasury confirmed to AFP that the Commission of Fine Arts approved the design of a new collectible coin featuring Donald Trump, with members of the commission appointed by the current administration.

According to the proposal, the coin will feature an image of Trump standing with clenched fists over a desk on the obverse, while the reverse will display an eagle, a traditional symbol of the United States.

The sale price of the collectible has not yet been disclosed, although the United States Mint typically offers similar items for more than $1,000.

“There is no more iconic portrait for the front of these coins than that of our president Donald Trump,” U.S. Treasurer Brandon Beach said in a statement sent to AFP. He added that two additional coins — a $1 piece and a one-ounce gold coin — are also under consideration.

However, the Citizens Coinage Advisory Committee (CCAC), another body responsible for reviewing new coin proposals, declined to discuss the Trump design in late February.

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“Only nations governed by kings or dictators place the image of a sitting leader on their currency,” said Donald Scarinciat the time. “No country in the world has minted coins featuring a democratically elected leader during their term in office,” he added.

When contacted by AFP, the Treasury Department did not immediately respond to requests for further comment.

International

Fed’s Waller warns of rising inflation risks amid Middle East conflict

Christopher Waller, a governor at the Federal Reserve, said Friday that he is increasingly concerned about the inflationary impact of the ongoing conflict involving United States and Israel against Iran, particularly due to the prolonged closure of the Strait of Hormuz.

Waller, who had supported interest rate cuts over the past year amid concerns about the labor market, said he has shifted his stance in recent weeks due to rising inflation risks.

“Since the Strait of Hormuz was closed, it suggests this conflict could be much more prolonged and that oil prices will remain elevated for longer,” Waller said in an interview with CNBC.

“Therefore, this indicates that inflation is a greater concern than I had previously assessed,” he added.

Waller also backed the Federal Reserve’s decision earlier this week to keep interest rates unchanged, signaling a more cautious approach as global geopolitical tensions continue to affect economic outlooks.

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International

Brazil offers to mediate Colombia-Ecuador tensions, calls for restraint

The government of Brazil has offered to mediate in the ongoing tensions between Colombia and Ecuador, while calling on both nations to exercise restraint.

In a statement released Wednesday, Brazil’s Ministry of Foreign Affairs urged the parties involved to act with moderation and seek a peaceful resolution to the dispute.

“Brazil encourages all sides to act with moderation in order to find a peaceful solution to the controversy. It stands ready to support dialogue efforts aimed at preserving peace and security in the region,” the statement said.

Brazil also expressed “serious concern” over reports of deaths in the border area between Colombia and Ecuador, noting that the circumstances surrounding the incidents have not yet been clarified.

The diplomatic move comes amid rising tensions between the neighboring countries, increasing regional concern over stability and security along their shared border.