Debate begins for whos first in line for COVID-19 vaccine – The Associated Press

Who gets to be first in line for a COVID-19 vaccine? U.S. health authorities hope by late next month to have some draft guidance on how to ration initial doses, but it’s a vexing decision.

“Not everybody’s going to like the answer,” Dr. Francis Collins, director of the National Institutes of Health, recently told one of the advisory groups the government asked to help decide. “There will be many people who feel that they should have been at the top of the list.”

Traditionally, first in line for a scarce vaccine are health workers and the people most vulnerable to the targeted infection.

But Collins tossed new ideas into the mix: Consider geography and give priority to people where an outbreak is hitting hardest.

And don’t forget volunteers in the final stage of vaccine testing who get dummy shots, the comparison group needed to tell if the real shots truly work.

“We owe them … some special priority,” Collins said.

Huge studies this summer aim to prove which of several experimental COVID-19 vaccines are safe and effective. Moderna Inc. and Pfizer Inc. began tests last week that eventually will include 30,000 volunteers each; in the next few months, equally large calls for volunteers will go out to test shots made by AstraZeneca, Johnson & Johnson and Novavax. And some vaccines made in China are in smaller late-stage studies in other countries.

For all the promises of the U.S. stockpiling millions of doses, the hard truth: Even if a vaccine is declared safe and effective by year’s end, there won’t be enough for everyone who wants it right away — especially as most potential vaccines require two doses.

It’s a global dilemma. The World Health Organization is grappling with the same who-goes-first question as it tries to ensure vaccines are fairly distributed to poor countries — decisions made even harder as wealthy nations corner the market for the first doses.

In the U.S., the Advisory Committee on Immunization Practices, a group established by the Centers for Disease Control and Prevention, is supposed to recommend who to vaccinate and when — advice that the government almost always follows.

But a COVID-19 vaccine decision is so tricky that this time around, ethicists and vaccine experts from the National Academy of Medicine, chartered by Congress to advise the government, are being asked to weigh in, too.

Setting priorities will require “creative, moral common sense,” said Bill Foege, who devised the vaccination strategy that led to global eradication of smallpox. Foege is co-leading the academy’s deliberations, calling it “both this opportunity and this burden.”

With vaccine misinformation abounding and fears that politics might intrude, CDC Director Robert Redfield said the public must see vaccine allocation as “equitable, fair and transparent.”

How to decide? The CDC’s opening suggestion: First vaccinate 12 million of the most critical health, national security and other essential workers. Next would be 110 million people at high risk from the coronavirus — those over 65 who live in long-term care facilities, or those of any age who are in poor health — or who also are deemed essential workers. The general population would come later.

CDC’s vaccine advisers wanted to know who’s really essential. “I wouldn’t consider myself a critical health care worker,” admitted Dr. Peter Szilagyi, a pediatrician at the University of California, Los Angeles.

Indeed, the risks for health workers today are far different than in the pandemic’s early days. Now, health workers in COVID-19 treatment units often are the best protected; others may be more at risk, committee members noted.

Beyond the health and security fields, does “essential” mean poultry plant workers or schoolteachers? And what if the vaccine doesn’t work as well among vulnerable populations as among younger, healthier people? It’s a real worry, given that older people’s immune systems don’t rev up as well to flu vaccine.

With Black, Latino and Native American populations disproportionately hit by the coronavirus, failing to address that diversity means “whatever comes out of our group will be looked at very suspiciously,” said ACIP chairman Dr. Jose Romero, Arkansas’ interim health secretary.

Consider the urban poor who live in crowded conditions, have less access to health care and can’t work from home like more privileged Americans, added Dr. Sharon Frey of St. Louis University.

And it may be worth vaccinating entire families rather than trying to single out just one high-risk person in a household, said Dr. Henry Bernstein of Northwell Health.

Whoever gets to go first, a mass vaccination campaign while people are supposed to be keeping their distance is a tall order. During the 2009 swine flu pandemic, families waited in long lines in parking lots and at health departments when their turn came up, crowding that authorities know they must avoid this time around.

Operation Warp Speed, the Trump administration’s effort to speed vaccine manufacturing and distribution, is working out how to rapidly transport the right number of doses to wherever vaccinations are set to occur.

Drive-through vaccinations, pop-up clinics and other innovative ideas are all on the table, said CDC’s Dr. Nancy Messonnier.

As soon as a vaccine is declared effective, “we want to be able the next day, frankly, to start these programs,” Messonnier said. “It’s a long road.”

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The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education. The AP is solely responsible for all content.

Flash Crash: Bitcoin Price Slides by $1.4K in Minutes – CoinDesk – CoinDesk

Bitcoin suffered a price drop of $1,458 in under an hour on Sunday. The sudden slide caught many traders off guard, forcing out a significant amount of buying pressure from the market.

Disclosure

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

$1 Billion Liquidated as Bitcoin Price Crashes by $1.4K in Minutes – Cointelegraph

The price of Bitcoin (BTC) and Ethereum’s Ether (ETH) plunged by 13% and 21%, respectively, within minutes on Aug. 2. The move liquidated more than $1 billion worth of futures contracts as BTC/USD dropped from around $12,000 to as low as $10,550.

BTC/USD 1-hour chart

BTC/USD 1-hour chart. Source: Tradingview

There appear to be two main reasons behind the sudden cascade of liquidations. First, the volume in the cryptocurrency market tends to drop during weekends. Second, the market was heavily swayed to longs or buyers.

Cryptocurrency market snapshot, Aug. 2

Cryptocurrency market snapshot, Aug. 2. Source: Coin360

Surprise weekend move hits the crypto market once again

The cryptocurrency market tends to see large liquidations during the weekend. The liquidity often drops as there are fewer active traders in the market. Lower volume leads to massive price movements, as cryptocurrencies become more vulnerable.

Mass liquidations become more likely during the weekend because one large liquidation could trigger a cascade of liquidations. When a long contract gets liquidated, as an example, it forces the buyer to market sell, causing selling pressure.

As hundreds of millions of dollars worth of long contracts began to get liquidated, Bitcoin and Ether dropped rapidly. Bitcoin declined from $12,000 to $10,600 within 15 minutes, while ether declined from $417 to $300.

But mass liquidations happened several times in the past five months. Most notably, on the so-called “Black Thursday” on March 13, $1 billion worth of liquidations occurred. Similarly, right before the halving on May 11, the price of Bitcoin dropped to $8,100 resulting in mass liquidations.

Bitcoin and Ethereum were heavily swayed to buyers

In the last several days, especially after Bitcoin’s upsurge above $11,000, the cryptocurrency market was heavily swayed to the side of the buyers. The funding rates of Bitcoin and Ether were nearing levels that are not sustainable over a prolonged period.

Futures exchanges, like BitMEX and Binance Futures, utilize a mechanism called “funding” to implement balance in the market. When the overwhelming majority of market participants are holding long contracts, then short holders are incentivized with a fee and vice versa.

Prior to the drop, the funding rate of Bitcoin was hovering at around 0.0721%. Since the average funding rate of BTC is at around 0.01%, the market was dominated by long contracts.

The market imbalance was even worse for Ether. The ETH funding rate was at 0.21%, which indicates significant bullish bias. But after the liquidations, the predicted funding rate of ETH is at 0.19%. It suggests that ETH longs were not flushed out, unlike Bitcoin.

Ether funding rate across major futures exchanges

Ether funding rate across major futures exchanges. Source: Skew

Michael van de Poppe, a trader at the Amsterdam Stock Exchange, previously anticipated Ether to drop to $300 as a result. He said:

“Let’s see $ETH at $300-320.”

For now, some traders anticipate sideways action for the days ahead as Bitcoin has rebounded to a key support level at $11,300 and a CME futures gap will likely emerge on Monday given Friday’s close price of $11,630.

“The bullish scenario depends on the crucial threshold of $11,300-11,400 as the pivot to hold for the price of Bitcoin,” Van de Poppe explained in his latest BTC technical analysis. 

In the medium-term, meanwhile, there is increasing optimism about the price trend for Bitcoin. When asked whether BTC will hit a new all-time high, Spartan Black’s Kelvin Koh said:

“Without a doubt. BTC hit a new ATH in each of the last 3 cycles and this one will be no exception. The scarcity effect, the halving and more capital coming into crypto will ensure that.”

Keep track of top crypto markets in real time
here

A Massive Bitcoin Flash Crash Just Created $1 Billion Of Crypto Chaos – Forbes

Bitcoin, after surging higher this week, has suffered a flash crash, losing around $1,500 from its price in matter of minutes.

The bitcoin price broke $12,000 per bitcoin on the Luxembourg-based Bitstamp exchange early Sunday morning only to plummet 12% to $10,500 within the hour.

The bitcoin price has now bounced back, somewhat pulling the wider cryptocurrency market with it, to trade at around $11,300—but not before more than $1 billion of bitcoin and crypto positions were liquidated across various exchanges.

MORE FROM FORBESAs The Bitcoin Price Soars, Bitcoin’s ‘Real’ Crypto Market Dominance Is Revealed

“In the past 24 hours, 72,422 people were liquidated,” bitcoin and crypto market data provider Bybt said via Twitter, adding the largest single liquidation order, worth $10 million, occurred on the Seychelles-based exchange Bitmex, known for its high leveraged trading volume.

Leveraged trading allows traders to take larger positions with smaller amounts of capital, with the number of bitcoin and cryptocurrency exchanges offering high leveraged trading exploding over recent years. Traders take positions, effectively bets, on where they expect prices to be when their position “closes”—losing their capital if the market goes against them.

This week’s bitcoin price rally has attracted a surge of retail traders to the crypto market, with many bitcoin exchanges reporting year-to-date trading highs as eager investors attempted to catch the upswing.

The cause of the bitcoin flash crash was not immediately clear, however some speculated it could have been caused by so-called “whales” who control large amounts of bitcoin and other cryptocurrencies moving the market. The market is more easily pushed around by whales when trading volumes are lower, such as early on Sunday morning.

“Whales playing,” finance writer and commentator Frances Coppola asked via Twitter.

The sudden move in the bitcoin price, which caused over $20 billion worth of value to be wiped from the combined market capitalization of the world’s cryptocurrencies according to CoinMarketCap data, was watched with combination of shock and awe by the bitcoin and cryptocurrency community.

“Bitcoin is the most ruthless asset in the world,” bitcoin and crypto investor Anthony Pompliano said via Twitter.

“[Bitcoin] hits $12,000 and then drops $1,500 in minutes. Not for the faint of heart.”

MORE FROM FORBESFormer Hedge Fund Billionaire Makes The Case For $20,000 Bitcoin Price By The End Of 2020

Bitcoin’s rally this week, breaking its near three-month trading malaise, has been attributed global investors seeking low risk so-called safe-haven assets, such as gold—which came within striking distance of hitting $2,000 for the first time this week.

“Bitcoin’s push has been fueled by the drive towards safe-haven assets,” Micah Erstling, trader at bitcoin and crypto market maker GSR, said via email.

“Markets are being driven by ongoing coronavirus concerns, as well as U.S.-China trade tensions, which also helps to explain gold’s meteoric rise. Even then, gold is still up 28% for the year, compared to bitcoin’s 50%. Perhaps bitcoin is fulfilling the narrative of becoming an all-encompassing, risk-on, safe-haven, deflationary asset.”

How departure of James laid bare the Murdoch family rifts – The Guardian

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Siemens Healthineers to acquire Varian for $16.4 billion – Reuters

BERLIN (Reuters) – German health group Siemens Healthineers (SHLG.DE) said on Sunday it would acquire Varian Medical Systems Inc (VAR.N) in a deal that values the U.S. maker of devices and software for cancer treatments at $16.4 billion.

FILE PHOTO: A staffer works on a magnetic resonance imaging machine at a production line of Siemens Healthineers in Shenzhen, China May 25, 2018. REUTERS/Bobby Yip

Under the agreed transaction, Siemens Healthineers will acquire all shares in Varian for $177.50 each in cash, representing a 24% premium to the U.S. company’s closing price on Friday.

Industrial conglomerate Siemens (SIEGn.DE), which spun off Healthineers in 2018 but retains a controlling stake, will provide bridge financing for the deal, which seeks to create a global leader in cancer care solutions by 2025.

“With this combination of two leading companies we make two leaps in one step: A leap in the fight against cancer and a leap in our overall impact on healthcare,” said Bernd Montag, CEO of Siemens Healthineers.

Varian President and Chief Executive Officer Dow Wilson said: “With Siemens Healthineers, we will transform care for a greater number of patients worldwide, as well as broaden opportunities for our employees as part of a larger and more global organization.”

The deal, first reported by Bloomberg, is subject to approval by Varian shareholders and regulators. It is expected to close in the first half of 2021 and be accretive to Siemens Healthineers’ adjusted basic earnings per share within 12 months of that.

BALANCE SHEET SUPPORT

Siemens is effectively putting its balance sheet to work to fund the deal, providing a bridging loan of 15.2 billion euros ($17.9 billion) to Healthineers.

The medical technology unit aims to replace 50% of that through a rights issue this year, subject to market conditions.

Siemens said in a separate statement that it expressly welcomed the deal and would raise the money for the bridging loan by issuing bonds. As a result, its stake in Healthineers would be diluted to about 72% from 85%.

Separately, Healthineers fiscal third quarter results, pre-released instead of Monday due to the acquisition announcement, showed revenue declined 6.9% year-on-year on a comparable basis to 3.3 billion euros, due to the impact of the coronavirus pandemic.

Its adjusted operating margin was 13.9%, down 1.2 percentage points from the same period a year earlier, while adjusted basic earnings per share fell 21% to 30 euro cents.

Revenue is forecast to be flat in fiscal 2020 while adjusted basic earnings per share are seen at between 1.54 and 1.62 euros, compared to 1.70 euros last year, assuming the business environment does not deteriorate further. ($1 = 0.8493 euros)

Additional reporting by Joern Poltz; Editing by Gareth Jones and Susan Fenton

Siemens Healthineers in advanced talks to buy Varian for $15 billion: Bloomberg News – Reuters

FILE PHOTO: Staff work on magnetic resonance imaging machines at a production line of Siemens Healthineers in Shenzhen, China May 25, 2018. REUTERS/Bobby Yip

(Reuters) – German group Siemens Healthineers AG (SHLG.DE) is in advanced talks to purchase Varian Medical Systems Inc (VAR.N), a maker of devices and software for treating cancer, in a deal that will value the medical device maker at about $15 billion, Bloomberg News reported late on Saturday.

The deal could be announced in the coming days, the report added, citing sources.

The talks could still fall apart, according to Bloomberg.

Both companies did not immediately respond to a request for comment.

Varian, based in Palo Alto, California, is focused on developing and delivering innovative cancer treatments and has 10,000 employees. In 2019, it reported total revenue of $3.2 billion.

Siemens Healthineers, a spinoff from Siemens AG (SIEGn.DE) in 2018, makes X-ray, ultrasound and MRI equipment.

Reporting by Kanishka Singh in Bengaluru; Editing by Cynthia Osterman