Several pharmaceutical companies are racing to develop a vaccine for the Covid-19 virus that has wreaked havoc on the world economy.
While one shot of the vaccine was initially thought to provide immunity against the virus, reports are now emerging that two or more annual vaccinations may be required.
Daniel Lacalle, an economist and author, shared an article on AstraZeneca CEO’s concerns that the unpredictable nature of the Covid-19 virus may require annual vaccinations.
AstraZeneca is currently working on a vaccine in partnership with the Oxford University, which has produced a positive immune response in early stage human clinical trials.
Based on the technology used for developing a vaccine for SARS 1, the immunity provided by the vaccine may last for only 12 to 18 months.
The exact required vaccination period is not known due to the unpredictable nature of the virus.
In other news, Ludovic Subran, chief economist at Allianz, shared an article on a surge in insolvencies in the second quarter of 2020 across the world.
Approximately 147 companies with a turnover of more than €50m ($56.2m) went insolvent during the quarter.