Inside the High-Stakes Race to Cure the Coronavirus
Social distancing slows the spread of corona virus. So stay a minimum of six feet away from others and stay home if you can more info at Corona Virus Dot Gov. Let's all do our part because we're all Hashtag alone together brought to you by the Ad Council inside the race to create vaccines and treatments for the corona virus. There's really no precedent for this researchers trying to move faster than ever before plus why global stocks are rallying the idea of guessing those lockdowns over getting back to some form of slightly more normal economic activities. Very much on people's minds. It's Tuesday April seventh. I'm Mark Garrison with the Wall Street Journal and this is what's news. Primary voters in Wisconsin head to the polls today though only after a twisty court battle over whether to postpone because of the pandemic. The state's governor ordered the election rescheduled to June ninth. But the Wisconsin Supreme Court ruled against him also the. Us Supreme Court ruled against Democrats who want to extend absentee balloting. Both courts have conservative. Majorities Wisconsin Governor. Tony Evers is a Democrat president trump and former vice president. Joe Biden spoke by phone yesterday about the government's response to the pandemic. Both sides agreed not to say much about the short call and said it was a fairly nice chat. President trump was among world leaders sending best wishes to British prime minister. Boris Johnson after his Cova nineteen symptoms. Got Worse. We're very saddened to hear that. He was taken into intensive care this afternoon. Little while ago and Americans are all praying for his recovery. It's been a really good friend who's been really something very special. Strong resolute doesn't quit. Doesn't give up talk to Anthony. Fauci says he's encouraged by what he's seeing has lockdown order spread. He said yesterday. There's a possibility there will be fewer than the one hundred thousand. American deaths forecasters predict it. There are around eleven thousand so far more fallout from the firing of us. Navy Aircraft Carrier Commander. Who wrote superiors asking for help with a corona virus outbreak on board acting Navy secretary? Thomas mody apologized for profane remarks over the loudspeakers of the USS Theodore Roosevelt. Mostly said he was sorry for the tone and did not think Captain Brett Crozier was naive or stupid but he did not take back the decision to remove him. The apology follows president trump describing. Modi's word choice as rough and saying he may get personally involved. President Trump says the government will bind. Nearly one hundred sixty seven million masks from three m. The president had criticized the company's manufacturing efforts of the CEO told us the company was doing everything possible to increase production which doubled in recent months coming up. Many investors are jumping back into the stock market global markets followed. Us stocks higher overnight. Asian shares largely closed up with European stocks. Opening higher markets columnist. Mike Byrd explains why some investors are now buying stocks. Globally are now quite a long way from the lows that was set in late. March when people are really really panicking about the economic impact of the various lockdown policies. Going in around the world. So you've seen quite a rally since then and it's mostly based on a sort of perception that things are improving you've seen in the real hot spot areas in Italy in New York Looks like Hey Sambas and deaths starting to peak starting to stole maybe even in some places starting to decline the idea of getting those lockdowns over getting back to some form of slightly more normal economic activities very much on people's minds and that's really what's leading stocks higher. It isn't a lot more complicated. The Knight you've also you see. Japanese stocks higher Chinese stocks higher. It's really sort of global rally based on not as slightly. That's risky outlook. Airbnb is raising a billion dollars from investors as it works through the hit to the global travel business from the Pandemic Journal. Tech reporter Parmi Olsen explains how the company faces a special challenge from the corona virus. This is a company that was built on the notion of sharing your assets with other people and yet now the world is being told not to go near other people or their things. We're supposed to self isolate so one. Venture capitalist recently told me that even after the virus it's possible that people might want to shift their spending back towards hotels instead of shared homes. Because they might feel just a little bit more assured that hotels have more stringent processes on things. Like cleaning and. Keeping the place hygienic again. We don't know how long the virus will be around for. After a short break we will go inside the relentless race to stop the corona virus. Happening now in labs filing taxes navigate taxis and with the Wall Street Journal's Your Money Twenty Twenty tax guide compiled by our trusted reporters and editors this e book covers. What the recent tax changes mean for you your company and the country. Wsj members can download now debbie plus dot com slash tax. Twenty twenty right now. Men and women in white coats around the world are doing everything they can to find vaccines and treatments. For the corona virus. There are more than one hundred forty efforts in progress inside universities. Drug companies and government labs. They're trying to do work. That can take months or years in a matter of weeks or days but the virus can move much faster journal Biotech reporter Joe Walker spoke with our Charlie Turner about the high stakes race to stop the Pandemic Joe. Give us a sense of the scope of the clinical response to the covert nineteen disease. Has there ever been anything like this before so I think you know in so many ways? There's really no precedent for this right as we all know as we're all living through it but I think in the past what you would see with eighteen or the first SARS outbreak H One n one. Another corona virus called. Moore's that you know you would see companies and and researchers who had experience within this disease area Start Research programs and then you know over time though those viruses tended to sort of recede or or die out of their own volition Sort of faster than anybody could could really come up with anything useful and so the research just started died out I think from what we can see now. It appears that it'll be different this time famous last words will give us a breakdown of the different ways that researchers are trying to attack the problem. Yes so okay so I is vaccines right. That's the thing that would be the best way. We want something where everybody can take it. And hopefully prevent all most of the population from getting the virus. To begin with. Then you have efforts to find treatments to clear the infection or clear the virus and people who already have it so in that breaks down to two right so the first is Repurposing drugs that are already invented already on the shelves or already on the market and trying to see if those can be useful here and then the other one is to invent new drugs from scratch taking what we know about this virus the way it's molecular makeup and so on and designing new drugs to treat it talk about where we are on various projects have any milestones been achieved. Look just with the caveat that anybody trying to predict when a drug will work come on the market. Is You know Speculating it's really hard to know at this point but on the drug front. There's a drug from Gilead. Sciences called Rim Desa Vir. Which showed you know at least some promising activity in animal studies and matador reports as well. We're expecting data from two Chinese studies this month. And so I think depending on what those look like you can see some movement there. I hesitate to say when that drug would get approved if it was successful in those trials. And that's the thing that's nearest term. And then we have some of these drugs that are being Invented from scratch and those are supposed to start clinical trials early summer at least one of them from Jenner on. What sort of timeline? Researchers giving you on having a new drug or vaccine on the market so the timelines usually here are six months to a year for drugs and then for vaccines maybe twelve to eighteen months to how something and those are really sort of best case scenarios. I think Wall Street Journal reporter Joe Walker. Thanks a lot. Thank you finally. Some American drivers are getting a surprise refunds from their car insurance company ALLSTATE and American family. Mutual insurance are returning hundreds of millions of dollars to their customers with Americans locked down in their homes. Car accidents have cratered so these companies decided to take the money they would have paid to settle claims and give it to customers. Allstate says miles driven have dropped as much as fifty percent since mid-march. We are here to answer your questions about the corona virus pandemic call three one five nine nine two eight two nine eight. Leave your question on our voicemail. We'll have our reporters and experts get you answers and that is what's news for this morning. We'll be back with another updated podcast this evening and we'll keep covering the pandemic and many other stories on wsj.com and our APP. I'm Mark Garrison with the Wall Street Journal. Thanks for listening.