Covid-19 Pandemic
 Here’s the latest news from the global pandemic. Florida outbreak out of control, L.A. on the brinkTokyo virus cases drop to 168, governor says U.K. orders 90 million vaccine doses from Pfizer, Valneva Health giants are weathering the storm The health-care industry has weathered the worst of the storm. At least, that’s what top executives at Johnson & Johnson and Abbott Laboratories told investors last week as they shared rosier financial outlooks for the year than Wall Street had expected. The two health-care behemoths, both of which oversee a medical-device unit, say once-delayed or canceled elective surgeries have begun to return to pre-pandemic levels. Though their units took a significant sales hit from a year prior, J&J and Abbott suggested it’s all uphill from here. Analysts echoed that sentiment, claiming second-quarter earnings are likely to showcase the worst of the wreckage.But the coronavirus pandemic continues to rage on in the U.S. and beyond, shrouding those optimist assurances in a blanket of uncertainty. In the hardest-hit regions, hospitalizations are on the rise with no signs of abating, personal protective equipment is lacking, and testing bottlenecks leave many waiting for results.  J&J Chief Financial Officer Joseph Wolk told Bloomberg that the company has relied on “eclectic” sources of information across countries, regions, cities and individual care providers in order to re-examine and revise its financial guidance. The company’s optimism is founded in data, and concluded with confidence, he said. “I don’t want to sound like I’m being too optimistic here. We’re certainly looking at the rising case rates in certain geographies, certain states,” Wolk said, noting his concern for outbreaks across South America and the American South. Still, “we’re in a much better situation than we were,” he said. J&J and Abbott, along with insurer UnitedHealth Group, which saw profits rise thanks to the drop-off in routine care, are the first major health-care companies to report earnings this quarter. Over the next few weeks, the financial results of their peers will offer a trail of breadcrumbs back through a recent, but momentous, history. From these crumbs, we will see how the industry has navigated the tumult so far. Make no mistake, this storm has not yet passed. Predicting what other damage it may still do is no easy task. —Riley Griffin In case you missed it Covid Vaccine Front-Runner Is Months Ahead of Her Competition The University of Oxford candidate, led by Sarah Gilbert, might be through human trials in September. AstraZeneca has lined up agreements to produce 2 billion doses. Could this be the one?  The first human trials in the U.K. to test a potential coronavirus vaccine. Photographer: Pool/Oxford University Sponsored Content by Siemens America’s factories, power plants, transportation and hospitals all need technology and our technology is only as powerful as the people deploying and maintaining it. Keeping America moving takes more than technology alone. It takes a human touch. Siemens Ingenuity for life. What you should read U.K. Asking Home Prices Rise on Virus Tax Break Values increase the most in more than three years, Rightmove says. Glaxo to Invest up to $1 Billion in Curevac Companies will work on up to five mRNA vaccines and antibodies. Deaths Surge in California’s Baja Hospitals The sick are afraid of hospitals and wait too long for admission. Covid’s Spread in Schools Questioned by Study Nordic research finds open primary schools had little bearing on contagion. Russia’s Elite Received an Experimental Vaccine Scores of Russia’s business and political upper class given early access. Know someone else who would like this newsletter? Have them sign up here. Have any questions, concerns, or news tips on Covid-19 news? Get in touch or help us cover the story. Like this newsletter? Subscribe for unlimited access to trusted, data-based journalism in 120 countries around the world and gain expert analysis from exclusive daily newsletters, The Bloomberg Open and The Bloomberg Close. Follow Us Get the newsletter You received this message because you are subscribed to Bloomberg’s Coronavirus Daily newsletter. Unsubscribe | Bloomberg.com | Contact Us Bloomberg L.P. 731 Lexington, New York, NY, 10022 |
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