Latest News

White House Warns It Cannot Afford COVID-19 Related Solutions If Cases Increase: FT

© Reuters. White House Warns It Cannot Afford COVID-19 Related Solutions If Cases Increase: FT

The White House says that the U.S. is running out of money to pay for COVID-19 vaccines, tests, and treatments, making it unprepared for any rising cases in the future.

According to the Financial Times report, officials said they would have to scale back some of the federal government’s planned drug purchases after Congress rejected a $15 billion package to boost government spending on the pandemic.

The warning comes amid rising infection levels in Europe and China. Experts say a similar wave is likely to begin in the U.S. soon. The White House warned that it would soon have to reduce purchases of monoclonal antibody treatments, including one made by AstraZeneca plc (NASDAQ: NASDAQ:AZN).

One senior administration official said: “For months, we have made clear to Congress on a bipartisan basis that the funding for tests, treatments, and vaccines was drying up and that additional funds would be needed.”

Another added: “Because it takes months to ramp up to rebuild capacity, failure to invest now would leave us less prepared for any potential future surges. So providing funding only when cases rise would be far too late to make a difference.”

To address the threat of a new wave, Pfizer Inc (NYSE: NYSE:PFE) / BioNTech SE (NASDAQ: BNTX) have filed a US application for a second COVID-19 booster dose for people aged 65 years and over.

Photo by Gerd Altman via Pixaby

© 2022 Benzinga does not provide investment advice. All rights reserved.

Read at Benzinga

Read the original article on Benzinga

White House Warns It Cannot Afford COVID-19 Related Solutions If Cases Increase: FT

Disclaimer:Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

What's your reaction?

In Love
Not Sure

You may also like

More in:Latest News

Leave a reply

Your email address will not be published. Required fields are marked *