Daily Archives: May 11, 2020

Novavax to Present COVID-19 Vaccine Candidate Progress in World Vaccine Congress Webinar Series

GAITHERSBURG, Md., May 11, 2020 (GLOBE NEWSWIRE) — Novavax, Inc. (Nasdaq: NVAX), a late stage biotechnology company developing next-generation vaccines for serious infectious diseases, today announced that Gregory Glenn, M.D., President of Research and Development, will present progress of NVX-CoV2373, Novavax’ coronavirus vaccine candidate, on Wednesday, May 13, 2020 as part of the World Vaccine Congress’ COVID-19 webinar series. Dr. Glenn joins a distinguished group of global public health, epidemiology, regulatory and industry leaders in sharing expertise and information related to the SARS-Cov-2 virus, as well as ongoing efforts to develop vaccines to address the global health pandemic.

Dr. Glenn’s presentation will be followed by a live Q&A discussion. Webinar details are as follows:

Topic:                          Recombinant Nanoparticle COVID-19 Vaccine: Platform Technology for Emerging Infectious Diseases (EID)
Date and Time:           Wednesday, May 13, 11:00 a.m. ET
Moderator:                  Philip Krause, M.D., Deputy Director, OVRR, CBER, FDA

The webinar is free to attend. To register, please click here.

About NVX-CoV2373

NVX-CoV2373 is a vaccine candidate engineered from the genetic sequence of SARS-CoV-2, the virus that causes COVID-19 disease. NVX-CoV2373 was created using Novavax’ recombinant nanoparticle technology to generate antigen derived from the coronavirus spike (S) protein and contains Novavax’ patented saponin-based Matrix-M™ adjuvant to enhance the immune response and stimulate high levels of neutralizing antibodies. In preclinical trials, NVX-CoV2373 demonstrated efficient binding with receptors targeted by the virus, a critical aspect for effective vaccine protection. A Phase 1 clinical trial of NVX-CoV2373 will initiate in May 2020 with preliminary immunogenicity and safety results expected in July 2020. The Coalition for Epidemic Preparedness Innovations (CEPI) has awarded an initial funding of $4 million to support Novavax’ NVX-CoV2373 efforts, with additional funding discussions ongoing.

About Novavax

Novavax, Inc. (Nasdaq:NVAX), is a late-stage biotechnology company that addresses urgent global health needs through the discovery, development, and commercialization of innovative vaccines. Novavax recently initiated development of NVX-CoV2373, its vaccine candidate against SARS-CoV-2, the virus that causes COVID-19, with Phase 1 clinical trial results expected in July of 2020. NanoFlu™, its quadrivalent influenza nanoparticle vaccine, met all primary objectives in its pivotal Phase 3 clinical trial in older adults. Both vaccine candidates incorporate Novavax’ proprietary saponin-based Matrix-M™ adjuvant in order to enhance the immune response and stimulate high levels of neutralizing antibodies. Novavax is a leading innovator of recombinant nanoparticle vaccines; its proprietary recombinant technology platform combines the power and speed of genetic engineering to efficiently produce highly immunogenic nanoparticles to address urgent global health needs.

For more information, visit www.novavax.com and connect with us on Twitter and LinkedIn.

Contacts:

Investors
Erika Trahan
ir@novavax.com
240-268-2022

Westwicke
John Woolford
john.woolford@westwicke.com
443-213-0506

Media
Brandzone/KOGS Communication
Edna Kaplan
kaplan@kogspr.com
617-974-8659

LafargeHolcim’s deal to sell Philippines business collapses

LafargeHolcim’s deal to sell its Philippines business, valued at $2.15 billion, has failed after the country’s competition authority did not give approval in time, Trend reports with reference to Reuters.

The world’s biggest cement maker announced the sale of its entire 85.7% stake to industrial group San Miguel Corporation in May 2019 and was expected to complete the transaction by the end of 2019.

The deal, which included four cement plants and one grinding plant, was subject to approval from the Philippines Competition Authority.

“The PCC did not issue an approval of the transaction within the required time period and consequently the agreement lapsed,” LafargeHolcim said on Monday.

The collapse is a blow for LafargeHolcim, which was offloading assets to pay down debt and wanted to exit from what it has previously called the “hyper-competitive” South-East Asia market.

The Swiss company has also quit Indonesia, Malaysia and Singapore, where its businesses together with the Philippines operation were worth $4.9 billion.

LafargeHolcim also said three of its four plants in the Philippines that had been shut down due to the coronavirus crisis had now resumed operations.

The company did not say if it was seeking another buyer or hoping to resume the sale to San Miguel, which also has operations in food, beverages, packaging, fuel and power sectors.

Lafarge said in a statement it would focus on strengthening its operations in the Philippines.

 

 

Source: TREND News Agency

 

Indonesia reports 233 new coronavirus infections, 18 deaths

Indonesia reported on Monday 233 new coronavirus infections, taking the total of cases in the Southeast Asian country to 14,265, said health ministry official Achmad Yurianto, Trend reports with reference to Reuters.

Yurianto reported 18 new COVID-19 related deaths, taking the total to 991, while 2,881 have recovered.

More than 116,350 people have been tested, he said.

 

 

Source: TREND News Agency

 

Small Businesses Better-Placed to Recover from the Economic Impacts of COVID-19, Survey Finds

JAKARTA, Indonesia, With many of Indonesia’s small businesses reporting both reasonably strong finances and usage of digital technology in 2019, they are better placed than many other small businesses across the Asia Pacific region to manage through the COVID-19 crisis, according to a recent survey by CPA Australia, one of the world’s largest accounting bodies.

While the survey was conducted prior to the global COVID-19 pandemic, CPA Australia’s Asia-Pacific Small Business Survey 2019-20 found that many Indonesian small businesses entered the current crisis with healthy finance, with nearly nine-in-ten reporting that they grew in 2019, the second highest proportion of the 11 markets surveyed. Further, just over one third of Indonesia’s small businesses grew strongly, the best result of all the markets surveyed.

With online sales already an important part of many of Indonesia’s small businesses, over 60 per cent generated more than 10 per cent of their revenue through online sales in 2019.These businesses are arguably better placed than small businesses in neighbouring jurisdictions to respond to changes in consumer behaviour driven by movement restrictions imposed to control the spread of COVID-19.

CPA Australia’s General Manager of External Affairs, Mr Paul Drum warned that while the results from the 2019 survey were positive for many small businesses in Indonesia, past performance is no guarantee of future success. The full economic and social effects of the pandemic are yet to be felt, as it is uncertain how long the COVID-19 restrictions will be applied and how the economy responds.

The recent extension of COVID-19 restrictions on businesses, workplaces, houses of worship, and entertainment venues in Jakarta, West Java and neighbouring Banten province mean only essential services can remain open.

“As with any crisis of this magnitude, small businesses have little margin for error. Prudent management, focusing on the changing needs of customers and even greater adoption of technology – rather than good fortune – will be essential to business recovery and ongoing future success.”

“The business you had before this pandemic hit will not be the same as the business you have after the pandemic abates and economic activity picks up again. Small business owners face the challenge of adapting their businesses to ‘a new normal’ at a time when finances may be tight, although stimulus measures by the government are easing that particular challenge,” Drum said.

The top five factors that had a positive influence on Indonesia’s small businesses were:
– Improved customer satisfaction
– Customer loyalty
– Improved business strategy
– Cost control, and
– E-commerce.

“Our survey results continue to show that year after year, through both good times and bad times such as these, businesses with a focus on their customers, technology and strategy are much more likely to grow strongly than other businesses.

“While it is wise to focus on cash flow and financial health at this time, businesses should also be looking to how they can meet the fast-changing needs of customers, especially through increasing online sales,” Drum said.

CPA Australia has the following suggestions for small business in this difficult period:

– Focus on improving cash flow and your financial health
– Utilise technology and online sales to meet changing consumer behaviour
– Capitalise on your existing pool of loyal customers
– Dedicate any spare time you may have to developing and implementing a
recovery plan, and learning about industry trends and emerging
technologies and how they can be applied to your business
– Ask staff with any downtime to undertake training so they are better
skilled to meet the recovery needs of your business
– If you are in a relatively strong financial position, look for
opportunities in the recovery
– Seek professional advice.

 

Source: Antara News

 

Govt to take precautionary measures for returning migrant workers

Jakarta On account to the COVID-19 pandemic, President Joko Widodo (Jokowi) instructed relevant ministries to take precautionary measures for the return of 34 thousand Indonesian migrant workers, whose work contract will end in May and June.

“In connection with the return of Indonesian migrant workers, I have received a report that the work contract of some 34 thousand Indonesian migrant workers will end in May and June,” Jokowi stated during a videoconference on the acceleration of COVID-19 handling at the Merdeka Palace here on Monday.

Of the 34 thousand migrant workers, some 8,900 originated from East Java, 7,400 from Central Java, 5,800 from West Java, 4,200 from West Nusa Tenggara, 2,800 from North Sumatra, 1,800 from Lampung, and 500 from Bali.

“Precautionary measures must be taken against this, and adequate preparations must be made. We should handle their arrival through certain entry gates and monitor their movement to their hometowns,” he noted.

The government has made necessary preparations at the Soekarno-Hatta International Airport in Tangerang and I Gusti Ngurah Rai International Airport in Bali as the entry gates for migrant workers using air transportation.

Benoa Port in Bali and Tanjung Balai Port in North Sumatra will function as the entry gates for Indonesians working in cruise ships.

Migrant workers keen on returning from Malaysia can use the entry gates in Batam and Tanjung Balai.

“I stressed on the need to impose a strict health protocol and mobilize our human resources to handle this. We will ensure preparedness in terms of the quarantine and referral hospital for our migrant workers,” the president stated.

Earlier last week, Head of the Task Force for the Acceleration of Covid-19 Response Doni Monardo stated that 70,367 Indonesian migrant workers had returned to Indonesia.

President Jokowi had commanded the Task Force and relevant ministries and institutions to prepare certain points of debarkation to facilitate conducting health observations in advance. The migrant workers might also be placed in isolation over the virus outbreak.

 

Source: Antara News