Latest news with #OperationWarpSpeed
Gizmodo
21 hours ago
- Business
- Gizmodo
Trump Scraps $766 Million Moderna Deal for Bird Flu Vaccine
The Trump administration has canceled a $766 million contract with Moderna for the development of a human bird flu vaccine, the pharmaceutical company announced Wednesday. The Biden administration signed a $176 million deal with Moderna last year for the development of an mRNA-based shot targeting the virus that causes bird flu, H5N1. Then, earlier this year, Biden's Department of Health and Human Services awarded the drugmaker an additional $590 million for late-stage development of the vaccine and to support clinical trials for five additional H5N1 subtypes. Health Secretary and noted vaccine skeptic Robert F. Kennedy has repeatedly expressed concerns over the safety of mRNA vaccines, despite their saving millions of lives. Just a week ago, Moderna withdrew its application for approval from the U.S. Food and Drug Administration for a hybrid covid-flu vaccine, said to be more effective than either shot on its own. The CDC has also ended vaccine recommendations for children and pregnant women. Since 2022, over 148 million birds have been culled, and the virus has spread to other wildlife, cows, and humans. So far, H5N1 has infected 70 people in the U.S.—most of them farmworkers—and killed one, according to the U.S. Centers for Disease Control and Prevention. Worldwide, the virus has a case fatality of roughly 50%, according to the World Health Organization. 'The cancellation means that the government is discarding what could be one of the most effective and rapid tools to combat an avian influenza outbreak,' Amesh Adalja, senior scholar at the Johns Hopkins Center for Health Security, told Reuters. He added that the Trump administration is taking the opposite approach to Operation Warp Speed, which it launched to combat the covid-19 pandemic. In a statement Moderna said it plans to explore alternatives for late-stage development of the vaccine. On Wednesday, the company also announced positive interim trial data for its late-stage clinical study of the shot against a subtype of H5N1.
AsiaOne
a day ago
- Health
- AsiaOne
US cancels more than $700 million funding for Moderna bird flu vaccine, World News
The Trump administration has cancelled a contract awarded to Moderna for the late-stage development of its bird flu vaccine for humans, as well as the right to purchase shots, the drugmaker announced on Wednesday (May 28). Shares of Moderna were flat in after-market trading. Moderna in January was awarded US$590 million (S$760) by the Biden administration to advance the development of its bird flu vaccine, and support the expansion of clinical studies for up to five additional subtypes of pandemic influenza. This was in addition to US$176 million awarded by the US Department of Health and Human Services (HHS) last year to complete the late-stage development and testing of a pre-pandemic mRNA-based vaccine against the H5N1 avian influenza. HHS told Reuters earlier this year that it was reviewing agreements made by the Biden administration for vaccine production. "The cancellation means that the government is discarding what could be one of the most effective and rapid tools to combat an avian influenza outbreak," said Amesh Adalja, senior scholar at the Johns Hopkins Center for Health Security, adding that it is the opposite approach Trump took with Operation Warp Speed to combat Covid-19. An HHS spokesperson said that after a comprehensive internal review, the agency had determined that the project did not meet the scientific standards or safety expectations required for continued federal investment. Bird flu has infected 70 people, most of them farm workers, over the past year as it has spread aggressively among cattle herds and poultry flocks. Health Secretary Robert F Kennedy Jr has questioned the use of vaccines and earlier this year drew censure from some in the US Congress after he suggested in a television interview that poultry farmers should let the bird flu spread unchecked through their flocks to study chickens who did not contract it. Moderna said it plans to explore alternatives for late-stage development and manufacturing of the vaccine. The company has been banking on revenue from newer mRNA shots, including its bird flu vaccine and experimental Covid-flu combination vaccine, to make up for waning post-pandemic demand for its Covid vaccine. Moderna also said on Wednesday that it had received positive interim data from a mid-stage trial set up to test the safety and immunogenicity of its bird flu vaccine targeting the H5 avian influenza virus subtype. [[nid:713266]]
Yahoo
2 days ago
- Business
- Yahoo
US cancels more than $700 million funding for Moderna bird flu vaccine
By Patrick Wingrove (Reuters) -The Trump administration has canceled a contract awarded to Moderna for the late-stage development of its bird flu vaccine for humans, as well as the right to purchase shots, the drugmaker announced on Wednesday. Shares of Moderna were flat in after-market trading. Moderna in January was awarded $590 million by the Biden administration to advance the development of its bird flu vaccine, and support the expansion of clinical studies for up to five additional subtypes of pandemic influenza This was in addition to $176 million awarded by the U.S. Department of Health and Human Services (HHS) last year to complete the late-stage development and testing of a pre-pandemic mRNA-based vaccine against the H5N1 avian influenza. HHS told Reuters earlier this year that it was reviewing agreements made by the Biden administration for vaccine production. "The cancellation means that the government is discarding what could be one of the most effective and rapid tools to combat an avian influenza outbreak," said Amesh Adalja, senior scholar at the Johns Hopkins Center for Health Security, adding that it is the opposite approach Trump took with Operation Warp Speed to combat COVID-19. An HHS spokesperson said that after a comprehensive internal review, the agency had determined that the project did not meet the scientific standards or safety expectations required for continued federal investment. Bird flu has infected 70 people, most of them farm workers, over the past year as it has spread aggressively among cattle herds and poultry flocks. Health Secretary Robert F. Kennedy Jr. has questioned the use of vaccines and earlier this year drew censure from some in the U.S. Congress after he suggested in a television interview that poultry farmers should let the bird flu spread unchecked through their flocks to study chickens who did not contract it. Moderna said it plans to explore alternatives for late-stage development and manufacturing of the vaccine. The company has been banking on revenue from newer mRNA shots, including its bird flu vaccine and experimental COVID-flu combination vaccine, to make up for waning post-pandemic demand for its COVID vaccine. Moderna also said on Wednesday that it had received positive interim data from a mid-stage trial set up to test the safety and immunogenicity of its bird flu vaccine targeting the H5 avian influenza virus subtype. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
5 things to know for May 29: Tariffs, Bird flu, Harvard, Extreme weather, Scientific research
Want to immigrate to America, but don't want to wait years going through the legal process? Soon you'll be able to register for a 'gold card' visa. The new card will replace the government's EB-5 immigrant investor visa program, which grants green cards to immigrants who make a $1.8 million investment in the US or put $900,000 into economically distressed zones. 'Basically, everyone I meet who is not an American is going to want to buy this card if they have the fiscal capacity,' Commerce Secretary Howard Lutnick said. And the new price tag? $5 million. Here's what else you need to know to Get Up to Speed and On with Your Day. President Donald Trump's economic agenda was thrown into chaos on Wednesday after a federal court ruled that he didn't have the authority to impose sweeping tariffs. The three-judge panel at the US Court of International Trade ruled in favor of a permanent injunction, one that would block the global tariffs the president announced on 'Liberation Day,' citing emergency economic powers. The ruling will also prevent Trump from enforcing the tariffs he placed on imports from Canada, China and Mexico earlier this year. It does not affect the 25% tariffs on autos, auto parts, steel or aluminum, which were subject to a different law than the one Trump cited for his broader trade actions. The administration has appealed the decision. The Department of Health and Human Services has terminated a $590 million contract with Moderna to develop a vaccine that would protect against bird flu. Since 2024, there have been at least 70 cases of avian influenza in humans and one death. The contract was canceled because the drugmaker was studying the effectiveness of an mRNA-based vaccine, which the Trump administration doesn't trust. Yet mRNA technology is currently used in Moderna's and Pfizer/BioNTech's Covid-19 vaccines. 'The attack on mRNA vaccines is beyond absurd. It was President Trump's Operation Warp Speed that gave us mRNA vaccines. These vaccines have been administered nearly 2 billion times to hundreds of millions of people around the world — making it one of the most widely used and widely studied vaccines in human history. They are safe and work well,' said Dr. Ashish Jha, the White House Covid-19 response coordinator during the Biden administration. 'If Bird Flu starts spreading from people to people, we will come to regret this as the day we decided to put the lives of the American people at grave risk.' Imagine spending years studying, writing essays, doing lab work, taking tests and completing all of the required courses necessary to earn a college degree — only to wonder whether you should attend your own graduation. That's the situation for many international students at Harvard University, who fear that an immigration-related action will be taken against them during today's commencement ceremony, a school official spelled out in a court filing. Some international students who were supposed to attend Harvard for future semesters are also reconsidering doing so. Others have had trouble getting student visas to the US at embassies abroad. Three senior government officials told CNN that the State Department is currently reviewing all Harvard-affiliated visa holders, not just students, which is a notable escalation in the Trump administration's feud with the school. Global temperatures are forecast to reach record or near-record levels during the next five years, according to a report from two of the world's top meteorological agencies. The World Meteorological Organization and the UK Met Office predict there is now a 70% chance that global warming will exceed 1.5 degrees Celsius, a rate that will increase the risks of more frequent and intense weather events, such as heat waves and heavy rainfall. 'We have just experienced the 10 warmest years on record. Unfortunately, this WMO report provides no sign of respite over the coming years, and this means that there will be a growing negative impact on our economies, our daily lives, our ecosystems and our planet,' WMO Deputy Secretary-General Ko Barrett said. Sixteen states filed a lawsuit against the Trump administration on Wednesday over the federal government's decision to gut research programs at the National Science Foundation. In April, hundreds of grants — mostly related to diversity, equity, inclusion, accessibility and misinformation research — were terminated. Since then, additional cuts have led to the cancellation of 1,753 grants worth nearly $1.4 billion across numerous areas of research. The states allege that eliminating such research will jeopardize the US's position as a global leader in science, technology, engineering and math (STEM), and that cutting funding related to diversity was illegal. 'This administration's attacks on basic science and essential efforts to ensure diversity in STEM will weaken our economy and our national security. Putting politics over science will only set our country back,' said New York Attorney General Letitia James. Did hackers discover Victoria's Secret?The lingerie company pulled down its website this week after experiencing a prolonged 'security incident.' The giants don't need your moneyA new campaign is encouraging visitors to the Giant's Causeway in Northern Ireland to stop wedging coins between the stones. What was on the megalodon's menu?The prehistoric predator was widely thought to subsist on large marine mammals, but a new study of fossilized teeth has found more variety in its diet. A mystery of cosmic proportionsAstronomers are trying to determine what kind of celestial object is emitting bright flashes of radio waves and X-rays that last for two minutes and repeat every 44 minutes. It would be a sin to miss thisResidents of the theater-less Mississippi town that inspired 'Sinners' will finally get to see the film. 7 millionThat's how many potential jobs the UN is predicting will vanish this year because of an economic slowdown triggered by President Trump's trade war. 'When I first heard the news, I wanted to curse Trump.' — Candy, a Chinese statistics student at the University of Michigan, who did not want to give her full name, after learning about the US decision to 'aggressively revoke visas for Chinese students.' Check your local forecast here>>> Um, we have a 'wildlife situation'Watch what happened when two pigeons apparently tried to stow away on a Delta Air Lines flight to Madison, Wisconsin.
Yahoo
2 days ago
- Business
- Yahoo
Moderna suffers a $750 million loss from NIH funding cut
Moderna's (MRNA) stock was up slightly in pre-market trading on Thursday despite an announcement that the National Institutes of Health (NIH), led by Robert F. Kennedy Jr., is ending a $750 million-plus contract to develop its bird flu vaccine late Wednesday. "Moderna received notice that HHS will terminate the award for the late-stage development and right to purchase pre-pandemic influenza vaccines," Moderna said in a statement late Wednesday. HHS said in a statement to Yahoo Finance that the reason behind the terminated contract was the mRNA platform. "This is not simply about efficacy — it's about safety, integrity and trust. The reality is that mRNA technology remains under-tested, and we are not going to spend taxpayer dollars repeating the mistakes of the last administration, which concealed legitimate safety concerns from the public," according to the statement. The company is currently in early stage clinical trials, and had expected to advance to late-stage trials with the help of HHS. "Moderna will explore alternatives for late-stage development and manufacturing of the H5 program consistent with the company's strategic commitment to pandemic preparedness," the company said. Moderna CEO Stéphane Bancel said in a statement that at the least, the interim data showed positive results. "While the termination of funding from HHS adds uncertainty, we are pleased by the robust immune response and safety profile observed in this interim analysis of the Phase 1/2 study of our H5 avian flu vaccine and we will explore alternative paths forward for the program," he said. Experts were shocked by the announcement Wednesday. The former director of the Biomedical Advanced Research and Development Authority (BARDA), which is under NIH and had helped fund Moderna's vaccines, said its a misstep at a crucial time. "This is a huge mistake; one that will be measured in lost lives when these vaccines are needed…and they will be needed," said Rick Bright, on X, late Wednesday. Bright recently co-authored a letter warning that the country needs to take seriously the reality of a bird flu pandemic. He served in the first Trump administration and played a key role in helping the country develop COVID-19 vaccines during the pandemic. "It was President Trump's Operation Warp Speed that gave us mRNA vaccines. These vaccines have been administered nearly 2 billion times to hundreds of millions of people around the world," wrote Dr. Ashish Jha, President Biden's former White House COVID-19 response coordinator, on X. This is the latest blow to Moderna's mRNA pipeline. Robert F. Kennedy Jr.'s HHS has been aggressively cutting vaccine development and casting doubt on the mRNA platform. The agency is wary of reports of myocarditis and other adverse events that followed vaccinations during the pandemic. Just last week, Moderna "voluntarily" and "in consultation with" the FDA withdrew its flu-Covid combination vaccine application, with intents to resubmit later in the year. The company had been counting on it and other vaccines in the pipeline to make up the the loss in Covid vaccine revenue in recent years. The amount of the funding cut is significant for a company of Moderna's size. It reported a total of $1 billion in sales for the fourth quarter of 2024, and expects 2025 revenue to be between $1.5 to $2.5 billion. That's a significant drop from the full-year 2022 revenue, when the company peaked at $19.3 billion during the pandemic. Earlier this month, Leerink Partners analyst Mani Foroohar said in a note that Moderna's goal of breaking even by 2028 was in question in light of the combo flu pullback, plus first quarter earnings for the year coming in below Wall Street's expectations. J.P. Morgan analyst Jessica Fye similarly echoed that cost-cutting measures announced during the first quarter earnings, to be achieved by 2027, would be "well received as we have thus far been unable to get the model in line with MRNA's goal of break-even on a cash cost basis by 2028." Still, Moderna has remained confident about its future products. One positive has been Moderna's partnership with Merck (MRK), pairing Merck's blockbuster cancer drug Keytruda with an mRNA cancer vaccine. But that has spurred questions about the company's future — and whether or not it can retain its first-mover lead in the mRNA space. Experts have wondered whether it is better off being acquired, or if it should sell part of its portfolio to a big pharma player. Anjalee Khemlani is the senior health reporter at Yahoo Finance, covering all things pharma, insurance, care services, digital health, PBMs, and health policy and politics. That includes GLP-1s, of course. Follow Anjalee as AnjKhem on social media platforms X, LinkedIn, and Bluesky @AnjKhem. Sign in to access your portfolio
