Markets Freak Out Again After Moderna CEO Repeats That Vaccine Won’t Work For Omicron

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Medical illustration. 3D rendering

Assessment: The CEO predicted a “material drop” in the current jabs’ efficacy at fighting omicron …

After spending yesterday doing interviews with practically every major American news organization, Moderna CEO Stephane Bancel on Tuesday tanked shares in his own company after telling Britain’s premier financial newspaper that he expects vaccines will “struggle” to stop the omicron variant.

Existing jabs will be less effective at tackling omicron than earlier strains of COVID, and it may take months before pharmaceutical companies can manufacture new variant-specific jabs at scale, Bancel warned in an interview with the FT.

After spending yesterday doing interviews with practically every major American news organization, Moderna CEO Stephane Bancel on Tuesday tanked shares in his own company after telling Britain’s premier financial newspaper that he expects vaccines will “struggle” to stop the omicron variant.

Existing jabs will be less effective at tackling omicron than earlier strains of COVID, and it may take months before pharmaceutical companies can manufacture new variant-specific jabs at scale, Bancel warned in an interview with the FT.

The CEO predicted a “material drop” in the current jabs’ efficacy at fighting omicron.

More data detailing whether omicron causes severe disease in vaccinated patients are expected to be released within the next two weeks, Bancel added. Once they have the new data, Moderna expects to have the next batch of vaccines ready in a matter of months. Read More @ zero Hedge HERE