|Real-time Estimate - 07/08 01:33:04 pm|
Health Care Up As Sector Seen As Resilient In Covid Era -- Health Care Roundup
|06/30/2020 | 05:19 pm|
Health-care companies rose sharply, as investors bet the sector would thrive no matter what course the Covid-19 pandemic took from here.
The SPDR Select Sector Health Care exchange-traded fund, which tracks the health-care industry group of the Standard & Poor's 500, came within 5% of its all-time highs, trading above $100. Inovio Pharmaceuticals reported positive preliminary results from the first-phase trial of its vaccine candidate for the new coronavirus, citing good indications for the vaccine's safety and potential to protect against the virus in a small initial study.
Anthony Fauci, the top-ranking infectious-disease doctor from the National Institutes of Health, said the U.S. is now recording about 40,000 new cases a day of the new coronavirus, and that "it could go up to 100,000 a day" if people continue to flout advice on social distancing and face masks.
The Food and Drug Administration released guidance Tuesday outlining conditions for approving a Covid-19 vaccine, including that any vaccine be at least 50% more effective than a placebo in preventing the disease, a standard benchmark for flu vaccines.
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