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Nio deliveries in January quadruple from a 12 months in the past signaling a robust begin to 2021

Bin Li, CEO of Chinese electric vehicle startup NIO Inc., celebrates after the doorbell as NIO stock goes to trading on the New York Stock Exchange (NYSE) during the company’s initial public offering (IPO), New York, September 12, 2018.

Brendan McDermid | Reuters

BEIJING – Chinese electric car start-up Nio has had a solid start to the year, even if there is still a long way to go to catch up with market leader Tesla.

The company announced on Monday it had delivered 7,225 vehicles in January, more than four times the 1,598 vehicles delivered in the same month last year.

Last month’s numbers also mark Nio’s sixth consecutive month of record shipments, bringing the startup’s cumulative shipments to 82,866.

It took Nio about six years to reach this point, while Tesla delivered 180,570 cars in the last three months of 2020 alone.

Nio’s shares, listed on the New York Stock Exchange, are up 17% year-to-date, just ahead of Tesla’s 19% gain. Both stocks outperform the S&P 500 by around half a percent.

Xpeng, another US-listed Chinese electric car company, is up 15% year-to-date.

Xpeng announced on Monday that it had shipped 6,015 electric cars in January, a third record month in a row. The company’s P7 sedan made up more than half of last month’s deliveries, a total of 18,772 since mass launch began in late June.

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Health

Johnson & Johnson’s Vaccine Provides Sturdy Safety however Fuels Concern About Variants

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Johnson & Johnson announced on Friday that its one-dose coronavirus vaccine provided strong protection against Covid-19, potentially offering the United States a third powerful tool in a desperate race against a worldwide rise in virus mutations.

But the results came with a significant cautionary note: The vaccine’s efficacy rate dropped from 72 percent in the United States to 57 percent in South Africa, where a highly contagious variant is driving most cases. Studies suggest that this variant also blunts the effectiveness of Covid vaccines made by Pfizer-BioNTech, Moderna and Novavax. The variant has spread to at least 31 countries, including the United States, where two cases were documented this week.

Johnson & Johnson said that it planned to apply for emergency authorization of the vaccine from the Food and Drug Administration as soon as next week, putting it on track to receive clearance later in February.

“This is the pandemic vaccine that can make a difference with a single dose,” said Dr. Paul Stoffels, the chief scientific officer of Johnson & Johnson.

The Johnson & Johnson vaccine was 85 percent effective in preventing severe disease, regardless of what variant caused it, the company said. While less effective than the Moderna and Pfizer vaccines, Johnson & Johnson’s is still considered a strong vaccine by scientists. Annual flu vaccines, for example, are typically 40 to 60 percent effective.

The company’s announcement comes as the Biden administration is pushing to immunize Americans faster even with a tight vaccine supply. White House officials have been counting on Johnson & Johnson’s vaccine to ease the shortfall. But the company may only have about seven million doses ready when the F.D.A. decides whether to authorize it, according to federal health officials familiar with its production, and about 30 million doses by early April.

The variant from South Africa, known as B.1.351, could make things even worse for the vaccine push. Given the speed at which the variant swept through that country, it is conceivable that by April it could make up a large fraction of infections in the United States.

The fact that four vaccines backed by the federal government seem to be less effective against the B.1.351 variant has unsettled federal officials and vaccine experts alike. Facing this uncertainty, many researchers said it was imperative to get as many people vaccinated as possible — quickly. Lowering the rate of infection could thwart the contagious variants while they are still rare, and prevent other viruses from gaining new mutations that could cause more trouble.

“If ever there was reason to vaccinate as many people as expeditiously as we possibly can with the vaccine that we have right now, now is the time,” Dr. Anthony S. Fauci, the government’s top infectious disease expert, said in an interview. “Because the less people that get infected, the less chance you’re going to give this particular mutant a chance to become dominant.”

As the United States scrambles to get enough vaccines, the country is turning into something of an evolutionary experiment. The B.1.351 variant is one of several that have arrived in the country or originated here, all with the ability to spread faster than other variants.

“The pandemic is a lot more complicated now than it was a couple months ago,” said Dr. Dan Barouch, a virologist at Beth Israel Medical Center in Boston.

Vaughan Cooper, an evolutionary biologist at the University of Pittsburgh, said that all the new variants were likely evolving quietly for months before bursting on the scene. “I think we’re going to see many stories like this,” he said.

Federal regulators are also still waiting on data from Johnson & Johnson’s new manufacturing facility in Baltimore that prove it can mass-produce the vaccine. The company is counting on that factory to help reach its contractual pledge to the federal government of 100 million doses by the end of June.

If Johnson & Johnson can deliver vaccines quickly enough to the United States, it might be able to help drive down cases before variants make things worse. Since the vaccine requires only a single shot — unlike the Moderna and Pfizer-BioNTech vaccines, which require two — that delivery would translate into full coverage for 100 million people.

Johnson & Johnson’s vaccine has another advantage that might help speed up the rollout. It can stay viable in a refrigerator for three months, while the two authorized vaccines have to be kept frozen. That gives the company an edge not just in reaching more isolated parts of the United States, but in getting the vaccine to remote areas of the world that could otherwise seed more aggressive mutants.

“I hope this vaccine gets approved as soon as possible to reduce disease burden around the world,” said Akiko Iwasaki, immunologist at Yale University. She pointed out that the shot greatly reduced the number of severe Covid cases, even those caused by the variant. “This is a really great result.”

Still, Johnson & Johnson and other vaccine makers must prepare for the B.1.351 variant or another one surging to dominance and demanding new vaccines. “You’ve got to be nimble enough to be able to adapt by upgrading our vaccines that match the dominant strain,” Dr. Fauci said.

Exactly when to make that switch will be a difficult decision, because the viruses are spreading unpredictably, and manufacturing new doses will be a huge undertaking.

“The implications of that are big. You would not take that choice lightly,” said John D. Grabenstein, an epidemiologist with the Immunization Action Coalition, a nonprofit organization that disseminates information about vaccines. “It’s not doomsday. It’s just that we are going to need a bigger boat.”

Johnson & Johnson’s announcement came one day after Novavax said an early analysis of its 15,000-person trial in Britain had revealed that the two-dose vaccine had an efficacy rate of nearly 90 percent there. But in a small trial in South Africa, the efficacy rate dropped to just under 50 percent.

Johnson & Johnson presented only a summary of findings of its clinical trial. The vaccine was 85 percent effective in preventing severe disease in all three regions where the trial was run: the United States, Latin America and South Africa. After 28 days, none of the vaccinated participants who developed Covid-19 had to be hospitalized.

The company reported that the vaccine’s protective effect seems to increase with time. But without long-term data on immunity, scientists and regulators do not yet know whether the vaccine’s efficacy peaks at some point before dropping.

Covid-19 Vaccines ›

Answers to Your Vaccine Questions

Am I eligible for the Covid vaccine in my state?

Currently more than 150 million people — almost half the population — are eligible to be vaccinated. But each state makes the final decision about who goes first. The nation’s 21 million health care workers and three million residents of long-term care facilities were the first to qualify. In mid-January, federal officials urged all states to open up eligibility to everyone 65 and older and to adults of any age with medical conditions that put them at high risk of becoming seriously ill or dying from Covid-19. Adults in the general population are at the back of the line. If federal and state health officials can clear up bottlenecks in vaccine distribution, everyone 16 and older will become eligible as early as this spring or early summer. The vaccine hasn’t been approved in children, although studies are underway. It may be months before a vaccine is available for anyone under the age of 16. Go to your state health website for up-to-date information on vaccination policies in your area

Is the vaccine free?

You should not have to pay anything out of pocket to get the vaccine, although you will be asked for insurance information. If you don’t have insurance, you should still be given the vaccine at no charge. Congress passed legislation this spring that bars insurers from applying any cost sharing, such as a co-payment or deductible. It layered on additional protections barring pharmacies, doctors and hospitals from billing patients, including those who are uninsured. Even so, health experts do worry that patients might stumble into loopholes that leave them vulnerable to surprise bills. This could happen to those who are charged a doctor visit fee along with their vaccine, or Americans who have certain types of health coverage that do not fall under the new rules. If you get your vaccine from a doctor’s office or urgent care clinic, talk to them about potential hidden charges. To be sure you won’t get a surprise bill, the best bet is to get your vaccine at a health department vaccination site or a local pharmacy once the shots become more widely available.

Can I choose which vaccine I get?How long will the vaccine last? Will I need another one next year?

That is to be determined. It’s possible that Covid-19 vaccinations will become an annual event, just like the flu shot. Or it may be that the benefits of the vaccine last longer than a year. We have to wait to see how durable the protection from the vaccines is. To determine this, researchers are going to be tracking vaccinated people to look for “breakthrough cases” — those people who get sick with Covid-19 despite vaccination. That is a sign of weakening protection and will give researchers clues about how long the vaccine lasts. They will also be monitoring levels of antibodies and T cells in the blood of vaccinated people to determine whether and when a booster shot might be needed. It’s conceivable that people may need boosters every few months, once a year or only every few years. It’s just a matter of waiting for the data.

Will my employer require vaccinations?Where can I find out more?

Dr. Stoffels said the company was still waiting for more data on whether the vaccine can protect against asymptomatic infection.

The company is preparing a lengthy briefing document it will submit to the F.D.A. in its application for authorization. The agency’s scientists will review the raw data from the trial and present their own analysis.

Unlike the messenger RNA vaccines made by Pfizer-BioNTech and Moderna, Johnson & Johnson uses an adenovirus, which normally causes the common cold. While adenovirus-based vaccines have been investigated for some three decades, they have yet to be licensed for use in the United States.

Johnson & Johnson’s Ebola vaccine became the first approved adenovirus-based vaccine for any disease when European regulators gave it the green light last July. Astra-Zeneca and the University of Oxford used a different adenovirus for their coronavirus vaccine, which is now authorized in Britain and other countries. Russian scientists created their Sputnik V vaccine from adenoviruses as well.

Johnson & Johnson received $456 million from Operation Warp Speed to support its research. In July, the government agreed to purchase 100 million doses for $1 billion if it proved safe and effective.

That same month, the company moved into clinical trials, which found that a single shot produced a strong immune response, consistent with experiments done on monkeys. Johnson & Johnson began the final “Phase 3” trial in September, again using a single dose. It recruited volunteers in the United States, South Africa and Latin America.

Half of the volunteers received the vaccine, and half received a placebo. The company then had to wait. Only when enough people in the trial got Covid-19 would an independent board of advisers look at the results to see how many sick volunteers were vaccinated — a process known as unblinding.

Late last year, surges of coronavirus infections accelerated the trial toward unblinding. In December, Johnson & Johnson decided it would not need to recruit 60,000 volunteers as it originally planned. It capped the trial at 45,000.

Like other vaccine developers, Johnson & Johnson was required by the F.D.A. to also record information about adverse events experienced by the volunteers for the first few months after vaccination.

Dr. Barouch, who led the team that designed the vaccine and tested it on animals last year, had to wait for months for the unblinding. “I’m thinking a lot about it,” he said in a Jan. 11 interview. “But, no, I don’t have champagne ready to go.”

After he learned the results, Dr. Barouch said he was delighted. “I think this vaccine will have a public health benefit throughout the world,” he said.

Johnson & Johnson is also moving forward with other trials of the vaccine to see how it can be improved. In December it began a trial with two doses. Dr. Fauci was optimistic that people who get a so-called prime boost may enjoy even more protection.

“If they get a prime boost, it’s entirely conceivable that they can get up to 90-plus percent,” he said.

In addition, Dr. Stoffels said that Johnson & Johnson was tailoring a version of its vaccine with a protein patterned after the B.1.351 variant. It could potentially deploy it in countries where that version of the virus was a threat.

“Pretty much all vaccine developers now are having that conversation,” said Dr. Peter J. Hotez, a vaccine expert with the Baylor School of Medicine and the creator of a different coronavirus vaccine.

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Health

3M CEO Mike Roman expects robust Covid demand for N95s all through 2021

Mike Roman, chairman and CEO of 3M, said Tuesday the industrial giant expects demand for its N95 respirators to be robust through 2021, even as Covid vaccine delivery raises hopes that the intensity the pandemic is gradually subsiding.

The medical masks are considered the best option to protect against infection and have been in need – and sometimes in shortage – throughout the health crisis. 3M, based in St. Paul, Minnesota, began increasing production of N95 about a year ago when the novel coronavirus, which first appeared in China in late 2019, was a global concern.

“We expect the demand for our N95 respirators to be strong later this year,” Roman said Tuesday on CNBC’s Squawk on the Street. “We see the demand and needs of healthcare workers and first responders at the forefront. That is still our priority. We are focused on serving their demand as well as some critical industries that need this N95 protection.”

Roman’s comments came after 3M reported better-than-expected fourth-quarter results. Sales of $ 8.58 billion beat Wall Street’s projections of $ 8.4 billion, while earnings per share of $ 2.38 were 23 cents above estimates.

For the full year, 3M saw 12.3% sales growth in healthcare, which includes respirators and products such as hand sanitizers. The company’s total revenue of $ 32.2 billion in 2020 increased 0.1% from 2019.

3M distributed 2 billion respirators worldwide last year.

In addition to the short-term need for masks, Roman said another factor likely to fuel continued demand is governments looking to replenish their stocks. For example, the Associated Press reported in August that the US government’s national supply of personal protective equipment for health workers was nearly depleted at the time.

3M’s shares rose about 3% to nearly $ 176 apiece on Tuesday – basically unchanged since the start of the year and down slightly over the past 12 months.

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World News

Croatia Hit by Sturdy Earthquake

At least one person was killed and a city in central Croatia was left in ruins after a strong 6.4 magnitude earthquake Tuesday, according to the US Geological Survey and local officials.

The full extent of the victims was not known. There were reports that the quake, which occurred just after noon local time, about 30 miles from the capital, Zagreb, could be felt in the Balkans and as far as Hungary.

The epicenter of the quake was near the town of Petrinja, and the mayor Darinko Dumbovic told Croatian state television that at least one person, a 12-year-old girl, had been killed. He said he passed her body on the street.

“This is a disaster,” he said. “My city is completely destroyed.”

“We need firefighters, we do not know what is under the surface, a roof has fallen on a car, we need help,” he said in an emotional telephone interview from the scene that was broadcast on Croatian state television.

“Mothers cry for their children,” he said.

Images from the city on social media and local TV showed streets littered with rubble, buildings with collapsed roofs, and rescue workers looking for people who might be trapped.

In the moments after the earth stopped shaking, orange dust filled the air as car alarms went off, church bells rang, and calls for survivors rang through the streets.

In a dramatic rescue, a man and a child were pulled from a car buried under rubble. The mayor told local reporters that he did not know the condition of the two people, but that they appeared to be alive.

“I also heard the kindergarten collapsed,” he said, adding, “Fortunately, there were no children in the building at the time.”

The Red Cross in Croatia said it was a “very serious” situation.

The earthquake was the second to hit the area in two days after a 5.2 magnitude tremor on Monday morning damaged buildings and fueled fears in a region with a history of seismic activity.

It took only a few hours for Prime Minister Andrej Plenkovic and President Zoran Milanovic to tour the center of Petrinja to investigate the damage caused by the first quake.

While that first tremor caused no injuries, Mr Dumbovic said many buildings had been damaged, which left them in a precarious state when the second quake erupted.

He said there had been several small earthquakes in the past few days and that many residents were afraid to spend the night in their homes.

In Zagreb, where people took to the streets during the quake, many decided to ignore the current travel ban in order to limit the spread of the coronavirus and leave the city.

In neighboring Slovenia, the state news agency announced that the country’s only nuclear power plant, located about 100 km from the epicenter, has been shut down as a precaution.

The Hungarian Paks nuclear power plant said in a statement that it had not stopped production even though the earthquake was felt there.

Ursula von der Leyen, President of the European Commission, said she had asked Janez Lenarcic, the European Commissioner for Crisis Management, to be ready to travel to Croatia to provide assistance.

The region is prone to earthquakes and experts have warned that the Balkans in south-eastern Europe have not addressed the risks of aging buildings.

While many towns and villages trace their roots back hundreds of years, a building boom that happened in the 1990s during the transition from communism to capitalism often meant that structures were built without regard to safety standards.

The result is that millions of people are living in buildings that are unlikely to survive a major earthquake, experts say.

In Croatia, the scars of past quakes are still visible in places like Dubrovnik, where a quake in 1667 destroyed almost a third of the city and killed more than 5,000 people.

Alisa Dogramadzieva and Joe Orovic contributed to the coverage.

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Business

Pfizer’s Vaccine Gives Sturdy Safety After First Dose

WASHINGTON – The coronavirus vaccine, manufactured by Pfizer and BioNTech, offers strong protection against Covid-19 within about 10 days of the first dose. This emerges from documents released Tuesday by the Food and Drug Administration ahead of a meeting of their vaccine advisory group.

The result is one of several significant new results in the newsletters, which includes more than 100 pages of data analysis from the Agency and Pfizer. Last month Pfizer and BioNTech announced that their two-dose vaccine had a 95 percent effectiveness rate after two doses three weeks apart. The new analyzes show that protection starts much earlier.

In addition, the vaccine worked well regardless of the race, weight, or age of a volunteer. While no serious adverse events from the vaccine were identified in the study, many participants experienced pain, fever, and other side effects.

“This is what an A + certificate looks like for a vaccine,” said Akiko Iwasaki, an immunologist at Yale University.

On Thursday, the FDA’s Vaccine Advisory Panel will discuss these materials prior to a vote on whether to recommend approval of the vaccine by Pfizer and BioNTech.

Pfizer and BioNTech started a large-scale clinical trial in July that recruited 44,000 people in the US, Brazil and Argentina. Half of the volunteers received the vaccine and half the placebo.

New coronavirus cases in the vaccinated group of volunteers quickly subsided about 10 days after the first dose, according to a graphic in the educational materials. The number of cases increased steadily in the placebo group.

The vaccine’s swift action could benefit not only the people who receive it, but also the strained hospitals in the country, limiting the flow of new patients to intensive care units.

Despite the early protection provided by the first dose, it is unclear how long this protection would last on its own, which underscores the importance of the second dose. Previous studies have shown that the second dose of the Pfizer BioNTech vaccine gives the immune system a significant long-term boost that is seen with many other vaccines.

The effectiveness of the vaccine after the first dose, according to Dr. William C. Gruber, senior vice president of Pfizer Vaccine Clinical Research and Development, at about 52 percent. After the second dose, this value increases to about 95 percent. “Two doses of the vaccine offer maximum protection,” he said.

Many experts have raised concerns that the coronavirus vaccines might protect some people better than others. However, the results in the educational materials indicate no such problem. The vaccine has a high rate of effectiveness in both men and women, and similar rates in whites, blacks, and Latinos. It also worked well on obese people who are at higher risk of developing Covid-19.

Some vaccines for other diseases produce a weak immune response in older adults. However, Pfizer and BioNTech found that people over 65 received about as much protection from the coronavirus vaccine as younger people.

“I’ve never seen anything like it,” said Dr. Gregory Poland, a vaccine researcher at the Mayo Clinic, on the vaccine’s robust response in the overweight and elderly.

Even if the vaccine is approved by the FDA, the study will continue. In the briefing documents, the companies said they would encourage people to stay in the study for as long as possible without knowing whether they received the vaccine or the placebo, so the researchers can continue to gather information on whether the vaccine is safe and effective.

The road to a coronavirus vaccine

Interesting facts about vaccines

Confused by all of the technical terms used to describe how vaccines work and study? Let us help:

    • Adverse event: A health problem that occurs in volunteers in a clinical trial with a vaccine or drug. An adverse event is not always caused by the treatment tested in the study.
    • Antibody: A protein produced by the immune system that can attach to a pathogen such as the coronavirus and prevent it from infecting cells.
    • Approval, Licensing, and Approval for Emergency Use: Medicines, vaccines and medical devices cannot be sold in the US for no profit approval by the Food and Drug Administration, also known as Licensing. After a company submits the results of clinical studies to the FDA for review, the agency decides whether the product is safe and effective. This process usually takes many months. If the country faces an emergency – like a pandemic – a company can file an application instead Emergency approvalthat can be granted much faster.
    • Background rate: How often does the general population experience a health problem called an Adverse Event? To determine whether a vaccine or drug is safe, researchers compare the rate of adverse events in one study to the background rate.
    • Effectiveness: The benefit of a vaccine compared to a placebo, measured in a clinical trial. For example, to test a coronavirus vaccine, the researchers compare how many people in the vaccinated group and the placebo group are receiving Covid-19. In contrast, effectiveness is the benefit that a vaccine or drug offers in the real world. A vaccine’s effectiveness can be found to be less or more effective than its effectiveness.
    • Phases 1, 2 and 3 studies: Clinical trials typically take place in three phases. Phase 1 studies typically involve a few dozen people to determine whether a vaccine or drug is safe. In Phase 2 trials that involve hundreds of people, researchers can try different doses and take more measurements of the vaccine’s effects on the immune system. Phase 3 trials, involving thousands or tens of thousands of volunteers, determine the safety and effectiveness of the vaccine or medicine by waiting to see how many people are protected from the disease it is intended to be used against.
    • Placebo: A substance with no therapeutic effect that is widely used in clinical trials. For example, to see if a vaccine can prevent Covid-19, researchers can inject the vaccine into half of their volunteers while the other half are given a placebo with salt water. You can then compare how many people are infected in each group.
    • Post-market surveillance: The surveillance that occurs after a vaccine or drug has been approved and regularly prescribed by doctors. This monitoring usually confirms that the treatment is safe. Rarely, side effects are noted in certain groups of people that were overlooked during clinical trials.
    • Preclinical Research: Studies that take place prior to the start of a clinical trial typically include experiments that test a treatment on cells or animals.
    • Viral vector vaccines: A type of vaccine that uses a harmless virus to deliver immune-stimulating ingredients into the human body. Viral vectors are used in several experimental Covid-19 vaccines, including those developed by AstraZeneca and Johnson & Johnson. Both companies use a cold virus called adenovirus as a vector. The adenovirus carries coronavirus genes.
    • Test protocol: A series of procedures that must be performed during a clinical trial.

The educational materials also provide a deeper look into the safety of the vaccine. In any large clinical trial, some people who receive vaccines have health conditions unrelated to the vaccine itself. Comparing their symptom rates with those of the placebo group, as well as background rates in a population, may indicate symptoms that a vaccine may actually cause.

The FDA concluded that there were no “significant imbalances” between the two groups in serious health complications known as adverse events. The agency found that four people in the vaccinated group had a form of facial paralysis called Bell’s palsy, with no cases in the placebo group. The difference between the two groups was not significant and the rate in the vaccinated group was not significantly higher than in the general population.

The new Pfizer analysis found that many volunteers who received the vaccine felt sick in the hours after the second dose, suggesting that many people may need to request a day off or be willing to rest until symptoms appear ease up. Among the 16 to 55 year olds, more than half developed fatigue and more than half also reported headaches. Slightly more than a third experienced chills and 37 percent had muscle pain. About half of those over 55 felt tired, a third had a headache, and about a quarter felt chills, while 29 percent had muscle pain.

“Taking a day off after the second dose is a good thing to anticipate,” said Dr. Iwasaki.

On Monday, Kristen Choi, a psychiatric nurse and health care researcher at the University of California at Los Angeles, released a firsthand report on the symptoms she experienced as a participant in the Pfizer BioNTech study, including chills, nausea and headaches and fever.

“Doctors need to be prepared to discuss with patients why they should trust the vaccine and that its adverse effects could be very similar to Covid-19,” wrote Dr. Choi in JAMA Internal Medicine. She advised doctors to tell patients that these uncomfortable symptoms “are a sign that the vaccine is working despite the unfortunate similarities with the symptoms of the disease”.