CEO, Cnbc, Merck discussed on Squawk Pod
The IBM cloud is the cloud. That's open that secure. That's built for business. It's also the cloud that's leading the way but don't take our word for it. Chuck Gardner Peer Insights to see why customers rate IBM cloud of AWS. Google cloud and Microsoft Azure over the last twelve months as of February twenty eighth twenty twenty. Ibm Let's put smart to work. Gartner peer insights reviews constitute the subjective opinions of individual end users based on their own experiences. And do not represent the views of Gartner or its affiliates I NBC producer. Katie Kramer. One of the voices behind the CNBC podcast squawk pot. In these times of uncertainty. We want to make sure we're bringing you our listeners. As much information as possible as quickly as we can. That's why we're sharing with you now a CNBC special report markets in turmoil listening. I'm Sarah is on day. One hundred twenty one at the Verona virus crisis the infection rate in the United States. Just hit the one million. Mark have been in collaboration with other people in industry. Three of the world's biggest healthcare. Ceo's speaking out tonight vaccine. We need to ensure broad access populations tonight where we stand on the possibility of new treatments. Vaccines and testing plus staff need to be taken. What's really happening inside? America's be and how worried you need to be it will be a long road back to recovery and CNBC's exclusive survey of top economists. When will the great American economy beyond solid ground again and angels saluting America this? Cnbc special report markets in turmoil starts right now. Here's Sara Eisen we start tonight with a first look at tomorrow. Us Stock Futures Right now are pointing to a higher open though it is early today on Wall Street. Stocks dropped the Dow snapped a four day winning streak. The Nasdaq was the weakest falling. Nearly one and a half percent big names like Apple Amazon alphabet and facebook leading the way. Lower three healthcare. Ceo's sounding off on the corona virus outbreak. And what they're doing to stop it. Let's get right to CNBC's farmer reporter. Meg with the latest MEG. Hey Sarah the amount of work going on in the pharmaceutical industry to try to stop Cova. Nineteen is unprecedented. And today we heard from Novartis Pfizer and Merck about where they all stand in the race to develop treatments and Vaccines Novartis is working on a number of approaches to developing drugs including running a placebo controlled trial of hydroxy chloroquine CEO. Dr Vossen are telling us today quote. There are a lot of studies reading out but the ones that matter are those gold standard studies until we see those placebo controlled trials. We won't really know if those drugs are working. Merck's CEO also join us on air today. That company working on both treatments and vaccines CEO. Ken Frazier saying the industry's challenge is to develop quote a safe vaccine with unprecedented speed and to manufacture and distributed at an unprecedented scale and on that front companies are already moving a record-breaking pace Pfizer. Ceo Albert. Birla telling me today. The company will quote start manufacturing. It's vaccine at risk so it will be ready to deploy if and hopefully when it proves to be safe and effective and there are also geopolitical questions being raised around the race drugs and Vaccines Dr Scott Gottlieb former Ethic Michener and Pfizer board member writing in the Wall Street Journal over the weekend the first nation to develop a vaccine for covert nineteen could have economic advantage as well as a tremendous public health achievement. Novartis is narrow. Simmons acknowledged the issues of nationalism. We're trying to take a very global perspective. Is there a hopeful? We can overcome some of the nationalism. That has happened in the past the H. One on one hand. Emmett where I was involved very heavily. There were moments where there was nationalism to hold vaccine supply. I think this is a moment. Where if we get get therapeutic or we gotta get vaccine. We need to ensure broad access to populations around the world. Now Pfizer's Birla told me the company will manufacture its vaccine in both the US and in Europe to supply those respective markets and. It's already started that work. If it's successful finds her says it'll have millions of doses of vaccine available by the end of this year and hundreds of millions in two thousand twenty one without would set a world record in time for Vaccine Development. The fastest in history was for mumps in one thousand nine hundred sixty seven four years from start to finish. That vaccine was developed by Dr Maurice Hillman at Merck and we asked Merck. Ceo Today about that twelve to eighteen months timeframe for vaccine. I wouldn't say it's too optimistic. What I would say is that Merck has a lot of experience as you said and getting vaccines across the finish line. The timeline that we're talking about is in fact shorter than any time line. That's ever occurred with a successful vaccine at the same time. I think everyone recognizes the urgency of this situation and we have to look at ways beyond sort of the customary ways of doing this but there is a certain amount of time that's inherit for example in doing clinical studies to ensure that a vaccine that you would use and millions if not billions of people is truly safe and effective and of course. These companies aren't alone. There are dozens of vaccine and drug trials ongoing. Some of the next results from Gilead expected this week. Sarah you mentioned the timeline. Meg and the fact that we could expect some results. As soon as this fall is the thinking that they would vaccinate the healthcare workers first and then the rest of the population. How would it look absolutely if something were far enough along where they were feeling comfortable with the safety and the efficacy it would definitely be the high risk groups that would receive a vaccine? I so as you said healthcare workers people on the front lines. People also talk about older folks. Those who are most vulnerable would be the first in line potentially for vaccine but that would be extremely fast to have that confidence in a vaccine MAG Terrell Meg. Thank you Dr. Anthony Fauci issuing a warning today at the Economic Club of Washington saying a second wave of the virus is a very real possibility but keeps me up at night is the emergence of brand new infection. Likely jumping species from an animal. That's respiratory born highly transmissible with a high degree of mobility and mortality and low and behold. That's what we are right now. So it's not going to disappear from the planet which means as we get into next season in my mind it's inevitable that we will have a return of the virus or maybe never even went away when it does how we handle. It will determine our fate. If by that time we have couldn't replace all of the countermeasures that you need to address this. We should do reasonably well. If we don't do that successfully we could be in for a bad fall in a bad winter. Let's bring in Dr Jeremy Faust. He has an emergency room physician at Boston's Brigham and Women's Hospital and teaches at Harvard medical school. Dr Faust. Good Evening Lou. Why is why are so many doctors first of all including Dr Fallacy so convinced that it's an inevitability in his words that this virus returns in the fall viruses are very seasonal seasonable. In terms of summer winter fall has to do with the environment around so we know that we all have the experience of a fall and winter being the season where you have flus so the fact that not every single human being on a planet has been exposed to this virus. Means that we expect it will level off to some degree over the summer and then it'll have a resurgence in the fall and winter. The question is how low can we possibly get this summer and fall as a starting point? What level are we beginning from the beginning from an ongoing crisis which very well could be the case or are we beginning from nothing which will be much better but the CDC director has also warned that it could coincide with the height of flu season? How do we prepare our hospitals? Prepare for the fall. One thing we absolutely have to do is to realize that when more patients come to us with critical illness we need to have the medications ready that we know work. Obviously right now. There's no proven drug that helps for Corona virus and we are waiting for one to show us any real benefit but there are things when patients need to be put on mechanical ventilators paralytic drugs and sedative medications and also antibiotics if there's bacterial infection in addition to the viral infections which we do commonly see and. I'm the one thing we could really do is to make sure that our drug shortages are dealt with now. The president has enormous power. There's been a lot of talk about the president's role can be with states and other arguments. This is one area where it's very clear. The president can use the defense production. Act to really amp up that pipeline. So that when we do have resurgence of any kind of illness related to this condition that we're ready to do everything we can on the front lines to help them. There are so many clinical trials going on right now. I hear about a new one every single day. What is the likelihood that come fall? We do have an effective either treatment or mix of treatments to help better manage this pandemic the thing. That's going to get through this as vaccine and as we all know that's not coming soon enough so the question is will any of these drugs actually play out in a real clinical trial with actual control groups and blinding. And all the things you need so that you know that the data that you're looking at not just noise. I think that we're probably going to find a few things that work a little bit. But I don't think that there's going to be a game changing medication in terms of taking this this this crisis and just making go away overnight. We know what that is. That's a vaccine when it when it's proven to be effective but medications that slowdown virus. It takes so long to get the right combination HIV AIDS. It took years and years of medications that we knew worked but we just didn't know how they work together and what combination and then. It took another medication class to kind of come in and save the day and that really changed the tide of the HIV issue in the nineties. We don't have that now and so i. We don't know it works second. We don't know what works together. So I'm I'm not optimistic. That will find a magic bullet that is on the level of accion. Not a magic bullet that will make this crisis. Feel any different. It might make a small difference in the meantime so many states are looking to reopen. Many of them have already done so. Are you comfortable with this? I would be very concerned about reopening right now. We're all very eager to get back to regular life. I definitely understand that right now. We're seeing something. That's unprecedented in American history. As far as I can tell and that.