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Thursday, April 1, 2021

Ontario in third COVID-19 lockdown as cases rise, ICU beds fill

 The Canadian province of Ontario will enter a limited lockdown for 28 days on Saturday, as COVID-19 cases and hospitalizations rise and more dangerous virus variants take hold, the premier said on Thursday.

The lockdown for Canada’s most populous province will fall short of enacting a stay-at-home order, which new government modeling released earlier on Thursday suggested would be necessary to avoid a doubling to some 6,000 new COVID-19 cases per day by late April.

Ontario’s third lockdown since the pandemic began will shutter all indoor and outdoor dining, although retailers will remain open with capacity limits, Premier Doug Ford said, calling the measures “pulling the emergency brake” on the entire province.

“We’re now fighting a new enemy,” Ford said. “The new variants are far more dangerous than before. They spread faster and they do more harm than the virus we were fighting last year... That means we need to take action now.”

Schools would remain open, Ontario’s education minister said on Twitter.

The Canadian Federation of Independent Businesses (CFIB) panned the lockdown measures, calling it “unconscionable” for the government to “continue to rely almost exclusively on blanket lockdowns” for controlling cases. It said the new measures were making small businesses “a scapegoat for the Ontario government’s lack of planning or foresight.”

Earlier on Thursday, new modeling released by an expert panel advising the provincial government predicted that new cases of COVID-19 would double unless the government imposes a stay at home order.

The report suggested a two- or four-week stay at home order imposed on April 5 could reverse the rise in new infections.

The new model came as more than 150 critical care doctors published a letter urging Ontario to act to halt a wave of infections there.

“We are seeing younger patients on ventilators - many are parents of school-aged children,” the letter said. “We are seeing entire families end up in our ICUs. We are caring for people who have contracted COVID-19 at work, or who have followed all the rules and only gone out for groceries.”

As new, more contagious and deadly coronavirus variants spread across the province, the number of COVID-19 patients in intensive care units has reached 464, higher than at the peak of the last wave, said Ontario Chief Medical Officer David Williams at a media briefing.

Data confirms that current seriously ill patients are younger with 46% of ICU admissions between March 15 and March 21 under age 60, up from 30% during a December surge, according to the expert panel.

And vaccination rates are lower in neighbourhoods hit hardest by COVID-19. In areas with the highest incidence of infection, about 8% of residents have received the vaccine, compared with 13% in areas with the lowest incidence.

Howard Njoo, Canada’s deputy chief medical officer, said he was particularly concerned about the potential for COVID-19 to spread as people gather for Easter this weekend.

“We have seen in the past a spike in cases following a long weekend,” he told a briefing in Ottawa on Thursday. “We’re very worried and really I would implore all Canadians ... to stay home.”

https://www.reuters.com/article/us-health-coronavirus-canada/ontario-pulling-the-emergency-brake-with-third-covid-19-lockdown-as-cases-rise-icu-beds-fill-idUSKBN2BO5RM

Virginia law denies benefit to some healthcare workers who refuse COVID-19 vax

  Virginia has passed a law making it easier for some healthcare workers who become ill with COVID-19 to collect medical expenses or lost wages.

But there’s a catch: the law excludes healthcare workers who are offered a vaccine at work and refuse it.

The bill, retroactive to March 12, 2020, was signed into law by Governor Ralph Northam late on Wednesday, according to an aide to Chris Hurst, a member of the state House of Delegates who drafted the legislation.

The new law presumes that death or disability from COVID-19 for healthcare workers who have had contact with a known COVID positive patient is an occupational hazard, allowing them to collect workers compensation insurance benefits.

The bill allows potentially hundreds of workers to claim benefits they were previously denied because of the difficulty of proving where a worker was infected with COVID-19.

If, however, the employer offered a vaccine and a worker refused, the presumption does not apply. The bill contains an exception for people with a medical condition that puts them at risk from a vaccine.

Nearly one-third of Americans have received at least one shot to date. 

Similar bills have been introduced in Illinois, Indiana and Maryland as states test ways to encourage vaccines without triggering a backlash over government mandates.

“It’s this cowardly way of trying to sort of implement a mandate through the backdoor that you know you probably couldn’t get away with through the body politic explicitly,” said Mike Duff, a professor at University of Wyoming College of Law.

Critics worry about tying a benefit to vaccines that have been approved only on an emergency basis.

Dr. Liz Mumper, a Virginia pediatrician, said: “Whenever there is risk to an individual, there must be choice.”

In the United States, the workers compensation system largely protects employers from lawsuits, while allowing workers to collect benefits for injuries without having to prove fault or negligence. The system was designed for factory accidents, not airborne illnesses.

Only 1% of healthcare workers in Virginia have been awarded COVID-19 workers compensation benefits, according to the Virginia Nurses Association.

Some legal experts and proponents of the Virginia bill say it is lawful for states to offer incentives to take the vaccine and that doing so will make the workplace safer.

“If you choose not to get the vaccine, you have to adopt some amount of personal risk,” Hurst said in an interview.

Attorneys who specialize in workers compensation said the vaccine requirement was similar to safety protocols such as hard hats, which must be followed for an injured worker to claim benefits.

https://www.reuters.com/article/us-health-coronavirus-vaccines-virginia/virginia-law-denies-benefit-to-some-healthcare-workers-who-refuse-covid-19-vaccine-idUSKBN2BO6GE

Royalty Pharma Acquires Royalty Interest in Cabozantinib From Glaxo

 Royalty Pharma plc (Nasdaq: RPRX) today announced that it has acquired a royalty interest in the cabozantinib products Cabometyx and Cometriq from GlaxoSmithKline (GSK) for an upfront payment of $342 million and up to $50 million in additional payments contingent on the achievement of regulatory approvals of cabozantinib for prostate cancer and lung cancer in the U.S. and Europe.

Cabometyx, a multi-tyrosine kinase inhibitor (TKI), is approved for the treatment of patients with advanced renal cell carcinoma (RCC) both as monotherapy and in combination with Bristol Myers Squibb’s Opdivo (nivolumab) as a first line treatment. Cabometyx is also approved for hepatocellular carcinoma (HCC) in patients previously treated with sorafenib. Cometriq is approved for progressive, metastatic medullary thyroid cancer. Cabometyx and Cometriq are marketed by Exelixis in the United States, and by their partner Ipsen in regions outside the U.S. and Japan. Cabometyx is marketed in Japan by Exelixis’ partner Takeda.

https://finance.yahoo.com/news/royalty-pharma-acquires-royalty-interest-113000002.html

PTC Therapeutics sale triggers $20M milestone payment from Roche

 PTC Therapeutics, Inc. (NASDAQ: PTCT) today announced that a $20 million milestone payment was triggered by the first commercial sale of Evrysdi (risdiplam) in the European Union under its License and Collaboration Agreement with Roche. Approval for Evrysdi from the European Medicines Agency was received on March 30 for the treatment of spinal muscular atrophy (SMA) in adults and children 2 months and older.

https://finance.yahoo.com/news/ptc-therapeutics-announces-commercial-milestone-120000028.html

Gilead upped to Outperform from Market Perform by Bernstein

 Target $80

https://finviz.com/quote.ashx?t=GILD&ty=c&ta=1&p=d

AbCellera, Gilead in New Multi-Year, Multi-Target Antibody Discovery Collaboration

 Expanded collaboration includes an eight-target discovery partnership leveraging AbCellera’s entire technology stack, including the Trianni Mouse® and the OrthoMabTM bispecific platforms

AbCellera (Nasdaq: ABCL) today announced agreements to expand its collaboration with Gilead Sciences, Inc. (Gilead) including a multi-year, multi-target antibody discovery collaboration and access to AbCellera’s humanized mouse technology, the Trianni Mouse®. Under the financial terms of the agreements, AbCellera will receive an upfront payment and is eligible for milestone payments and royalties based on the development and commercialization of antibodies generated by AbCellera under this collaboration.

Building on the successful completion of the first collaboration together, under the new agreement AbCellera will generate panels of antibodies for up to eight new targets, across multiple indications, selected by Gilead. The expanded collaboration will leverage the full breadth of AbCellera’s technology stack, including the recently added capabilities for sourcing diverse, fully-humanized antibodies using the Trianni Mouse® platform and combining any two antibodies to create native bispecifics using the OrthoMabTM protein engineering platform.

https://finance.yahoo.com/news/abcellera-gilead-sciences-announce-multi-130000943.html

CVS Expands Covid-19 Vaccinations To Pharmacies In 44 States

 CVS Health (NYSE: CVS) has surpassed 10 million COVID-19 vaccine doses administered through its participation in the Pharmacy Partnership for Long-Term Care Program and Federal Retail Pharmacy Program. The company is now administering vaccines in nearly 2,000 stores across 44 states, Puerto Rico, and Washington, D.C., with the pace of vaccinations expected to rapidly accelerate as more supply becomes available. CVS Pharmacy has the capacity to administer up to 25 million shots per month.

https://finance.yahoo.com/news/cvs-health-surpasses-10-million-120000682.html