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As attention shifted this week to the U.S. presidential election, the coronavirus pandemic continued to accelerate nationwide, with the U.S. reporting more than 100,000 new Covid cases in a single day for the first time. The health team has more on the outbreak below. CNBC's Bertha Coombs also has an update on health-care stocks following Election Day.
| | Antibody drugs could make a difference, but they'll be in short supply | Why? Because the manufacturing process takes three to four months from start to finish, and involves growing the drug in living cells. Experts like Dr. Scott Gottlieb have been advising since April that the government invest in antibody drugs the same way it has in vaccines, but Operation Warp Speed investments have been overwhelmingly in favor of the latter. Chief advisor Moncef Slaoui, though, says drugs have been a priority – and notes vaccines will, it's hoped, go to many more people to try to stop the pandemic.
-Meg Tirrell | | | | Bowling for gridlock | The health care sector soared to record highs following the election. In many ways the prospect of gridlock in Washington helps remove some uncertainty for health care investors and for the industry, by taking sweeping new laws off the table. One analyst compared it to the bumpers on the lanes at the bowling alley – you know the parameters of where your ball will travel. Of course, the final votes on senate races could upend those expectations. And, as I related to him, I once somehow managed to bowl a gutter ball in the adjacent lane.
-Bertha Coombs | | | | States move to ease drug laws in 'psychedelic renaissance' | Voters headed to the booths Tuesday in a number of states on an election night that saw sweeping deregulation of drugs, including so-called magic mushrooms and marijuana, for recreational and medical purposes. Oregon became the first state to legalize the use of the active ingredient in magic mushrooms and the District of Columbia moved to decriminalize the possession of magic mushrooms and other psychedelic substances, including the active ingredients in ayahuasca and peyote. Ronan Levy, the cofounder of Field Trip Health, a Toronto-based company that provides psychedelic-enhanced psychotherapy, told me the ballot wins are "fantastic news" for the "psychedelic renaissance." On top of psychedelics, a number of states, including New Jersey, Arizona, South Dakota, Montana and Mississippi, moved to legalize the sale of marijuana, either recreationally or medically.
-Will Feuer | | | | U.K. prime minister, after reluctance, imposes second national lockdown | England imposed a second national lockdown beginning Thursday as coronavirus cases run rampant in the United Kingdom, closing all nonessential businesses but leaving schools open for the next four weeks as it tries to suppress the virus. People will be ordered to stay at home unless it's for essential purposes, including education, medical reasons, or to shop for groceries, Prime Minister Boris Johnson said when announcing the new measures. Pubs, bars and restaurants were ordered to close except for takeaway and delivery. For weeks, Johnson had urged against the "misery of a national lockdown" and instead adopted more localized restrictions. However,recent modeling suggested the nation's hospitals could be overwhelmed with Covid-19 patients if immediate measures weren't implemented, he said. "Now is the time to take action because there is no alternative," Johnson cautioned.
-Noah Higgins-Dunn | | | | WHO looking at a Covid mutation among minks | The World Health Organization said it would review biosecurity measures across the globe after Danish health authorities found a mutated form of the coronavirus present in the country's mink farms. The detection of the mutated virus among minks has raised questions about the effectiveness of a future Covid-19 vaccine. Danish Prime Minister Mette Frederiksen described the situation as "very, very serious," warning the mutated virus could have "devastating consequences" worldwide.
-Sam Meredith | | CNBC Evolve Summit | November 10, 2020
In an era of rapid technological advances and demographic change, how do legacy companies adapt, innovate and evolve?
CNBC Evolve features iconic global companies and executives who are embracing change and transforming for the future.
Featuring best-in class CEOs and innovators in conversation with CNBC anchors and reporters, this event provides a forum for companies to share strategies, tactics and lessons learned in a peer-to-peer environment.
Attendees will walk away with an understanding of how businesses and brands can evolve and win in an age of disruption.
Featured speakers include:
Al Kelly, Visa
Lisa Safarian, Bayer North America
Arvind Krishna, IBM
Tom Hayes, Ocean Spray
Kelly Caruso, Shipt
Stan Kasten, Los Angeles Dodgers
Lisa Deverell, Land O'Lakes
Darius Adamczyk, Honeywell
Lars Ulrich, Metallica | |
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