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For Edit

G.O.P. Senators propose a compromise on Covid relief

Residents in nursing homes have been prioritized as among the first groups to get the vaccine.

 

— NYT: Top Stories

Categories
Science

The Latest: France’s Sanofi to help make rival vaccine

FILE – In this photo Nov.30, 2020 file photo the logo of French drug maker Sanofi is picture at the company’s headquarters, in Paris. French drug maker Sanofi said Wednesday it will help manufacture 125 million doses of the coronavirus vaccine developed by rivals Pfizer and BioNTech, while its own vaccine candidate faces delays. (AP Photo/Thibault Camus, File)

PARIS — French drug maker Sanofi says it will help manufacture 125 million doses of the coronavirus vaccine developed by rivals Pfizer and BioNTech, while its own vaccine candidate faces delays.

Germany-based BioNTech will initially produce the vaccines at Sanofi facilities in Frankfurt, starting in the summer, according to a Sanofi statement Wednesday. The company did not reveal financial details of the agreement.

The French government has been pressing Sanofi to use its facilities to help make rival vaccines, given high demand and problems with supplies of the few vaccines that are already available.

Sanofi and British partner GlaxoSmithKline will start a new phase-2 trial of their COVID-19 vaccine next month, Sanofi said. The two companies said last month that their vaccine won’t be ready until late 2021 because the shot’s effectiveness in older people needed to be improved.

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THE VIRUS OUTBREAK:

— U.S. boosting vaccine deliveries amid complaints of shortages

— U.K. becomes first country in Europe to pass 100,000 coronavirus deaths

— U.S president says he’s ‘bringing back the pros’ for virus briefings

— IOC, Tokyo Olympics to unveil rule book for beating pandemic

— Follow all of AP’s pandemic coverage at https://apnews.com/hub/coronavirus-pandemic, https://apnews.com/hub/coronavirus-vaccine and https://apnews.com/UnderstandingtheOutbreak

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HERE’S WHAT ELSE IS HAPPENING:

BEIJING — China has given more than 22 million coronavirus vaccine shots to date as it carries out a drive ahead of next month’s Lunar New Year holiday, health authorities said Wednesday.

The effort, which began six weeks ago, targets key groups such as medical and transport workers and has accelerated vaccinations in China. About 1.6 million doses had been given over several months before the campaign began.

“The carrying out of vaccination has been ongoing in a steady and orderly manner,” Zeng Yixin, vice chairman of the National Health Commission Said at a news conference.

He said that 22.76 million doses had been administered as of Tuesday. It’s not clear how many people that represents since the vaccine is given in two doses, and some may have received their second shot.

China, which largely stopped the spread of the virus last spring, has seen fresh outbreaks this winter in four northern provinces. About 1,800 new cases have been reported since mid-December, including two deaths.

Authorities are strongly discouraging people from traveling during the Lunar New Year holiday, a time when Chinese traditionally return to their hometowns for family gatherings.

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NEW DELHI — India has vaccinated 2 million health workers in less than two weeks and recorded 12,689 new coronavirus positive cases in the past 24 hours, a sharp decline from a peak level of nearly 100,000 in mid-September.

The health Ministry said the daily new cases had fallen below 10,000 on Tuesday with 9,102 cases. The daily new positive cases were 9,304 on June 4 last year.

India’s fatalities dropped to 137 in the past 24 hours from a peak level of 1,089 daily deaths in September. India’s total positive cases since the start of the epidemic have reached 10.6 million, the second highest after the United States with 25.43 million cases.

India started inoculating health workers on Jan. 16 in what is likely the world’s largest COVID-19 vaccination campaign.

India is home to the world’s largest vaccine makers. Authorities hope to give shots to 300 million people. The recipients include 30 million doctors, nurses and other front-line workers.

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SEOUL, South Korea — South Korea has reported new 559 cases of the coronavirus, its highest daily increase in 10 days, as health workers scrambled to slow transmissions at religious facilities, which have been a major source of infections throughout the pandemic.

The figures released by the Korea Disease Control and Prevention Agency on Wednesday brought the national caseload to 76,429, including 1,378 deaths.

The agency said 112 of the new cases came from the southwestern city of Gwangju where more than 100 infections have so far been linked to a missionary training school. An affiliated facility in the central city of Daejeon has been linked to more 170 infections.

Nearly 300 of the new cases came from the Seoul metropolitan area, home to half of the country’s 51 million people, where infections have been tied to various places, including churches, restaurants, schools and offices.

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JUNEAU, Alaska — Alaska has detected the state’s first known case of the coronavirus variant identified last year in the United Kingdom, officials said Tuesday.

The infected person is an Anchorage resident who had traveled to a state where the variant had already been detected, the Alaska health department said. The person first experienced symptoms on Dec. 17, was tested three days later and received a positive result on Dec. 22.

The resident lived with another person in Anchorage, who also became ill. Both isolated and have since recovered, officials said.

It was not yet clear if the second person also was infected with the variant.

Dr. Joe McLaughlin, the state epidemiologist, said in a news release that the discovery of the variant is not surprising because viruses “constantly change through mutation.”

He said this is one of several “variants that has been carefully tracked because it appears to spread more easily and quickly than other strains of the virus.”

Dr. Anne Zink, Alaska’s chief medical officer, said it is likely the variant will be detected again soon.

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BOSTON — In his annual State of the Commonwealth address, Republican Gov. Charlie Baker defended his vaccine distribution plan, which some have criticized for being confusing and too narrowly focused at first.

Baker said the state is prepared to distribute and administer all the vaccine shots delivered by the federal government and is rapidly expanding the number of vaccination sites.

“Vaccinating 4 million adults in Massachusetts as the doses are allocated by the federal government is not going to be easy. But be assured that we will make every effort to get this done as quickly and efficiently as possible,” he said. “We can only move as fast as the federal government delivers the vaccines.”

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SEATTLE – Washington Gov. Jay Inslee on Tuesday touted big improvements in distributing the COVID-19 vaccines, but he also urged residents to remain vigilant as new, more contagious variants of the disease spread in the state.

Inslee said more than 36,000 doses were administered in Washington on Sunday and 39,000 on Monday — a big jump from about 16,000 a week earlier, and on the way toward the state’s goal of 45,000 per day.

The number of vaccines actually administered could be even higher, given lags in reporting, but as of Monday more than 500,000 doses had been administered statewide, with four mass vaccination sites due to open this week.

President Joe Biden announced Tuesday the federal government is boosting vaccine supplies to the states by 16% over the next three weeks, giving states more certainty about upcoming deliveries than the one-week notice the Trump administration had been providing.

— Associated Press

Categories
Business

MetLife Investment Management originates $6.2 billion in private placement debt for 1H 2020

Private placement debt portfolio grows to $91.2 billion1

WHIPPANY, N.J.–(BUSINESS WIRE)–MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), today announced it originated $6.2 billion in private placement debt for the first half of 2020, across nearly 100 transactions. This included $1.7 billion of investments originated on behalf of institutional clients.

Despite COVID-driven economic uncertainty and associated volatility in the fixed income markets, we remained active throughout the first six months of 2020, serving as a key capital partner to our issuers,” said John Wills, global head of private placements at MIM.

MIM’s private placement debt origination for the first half of 2020 comprised $4.5 billion in corporate private placement debt transactions and $1.7 billion in infrastructure private placement debt transactions. This origination activity, which added 29 new credits, helped grow MIM’s total private placement debt portfolio to $91.2 billion as of June 30, 2020.

MIM’s corporate private placement activity was diversified across industry sectors, including general industrial, healthcare, professional services, retail and utilities. MIM was selective in its infrastructure private placement opportunities and participated in transactions that provided strong structural protections and relative value across the following sectors: electric transmission, renewable power, social housing and infrastructure, and stadiums. Investments included nearly $550 million in six transactions across the renewable power and social housing and infrastructure sectors.

I am proud of our team’s efforts to support our borrowers and institutional investor clients,” added Wills. “The breadth, depth and experience of our deal sourcing and credit management capabilities served our clients across the corporate, insurance and pension communities well during these extremely difficult times. We expect that MIM will continue to be a leading private placement provider in corporate and infrastructure debt, benefiting from our size, sector expertise and global footprint.”

About MetLife Investment Management

MetLife Investment Management, the institutional asset management business of MetLife, Inc. (NYSE: MET), is a global public fixed income, private capital and real estate investment manager providing tailored investment solutions to institutional investors worldwide. MetLife Investment Management provides public and private pension plans, insurance companies, endowments, funds and other institutional clients with a range of bespoke investment and financing solutions that seek to meet a range of long-term investment objectives and risk-adjusted returns over time. MetLife Investment Management has over 150 years of investment experience and as of June 30, 2020, had $629.1 billion2 in total assets under management. For more information, visit https://investments.metlife.com.

About MetLife

MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

Forward-Looking Statements

The forward-looking statements in this news release, such as “expect,” “will,” and “continue” are based on assumptions and expectations that involve risks and uncertainties, including the “Risk Factors” MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. MetLife’s future results could differ, and it has no obligation to correct or update any of these statements.

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1 As of June 30, 2020. At estimated fair value. Includes corporate and infrastructure private placement debt contained in MetLife’s general account, separate accounts and non-proprietary assets of unaffiliated/third party clients.

2 Total assets under management is comprised of all MetLife general account and separate account assets and unaffiliated/third party assets, at estimated fair value, managed by MIM.

Contacts

James Murphy

(973) 355-4673