CEO of Moderna Stéphane Bancel spiked fears on stock markets after he said that the vaccines developed by his company are less effective against the new Omicron strain of COVID-19.
“There is no world, I think, where (the effectiveness) is the same level . . . we had with Delta,” he told
“I think it’s going to be a material drop. I just don’t know how much because we need to wait for the data. But all the scientists I’ve talked to . . . are like ‘this is not going to be good’,” he added.
The development of a new vaccine may take a while as collecting enough data may require as long as several months, the company says.
It is not yet known to what extent the new strain is dangerous.
In order to discuss the matter a special meeting of the World Health Organization was held. The vaccines still manage to show positive results as those who are vaccinated experience mild symptoms.
The first case of the disease was recorded in Africa and during the special meeting several countries proposed imposing a travel ban from it like Japan and Israel.
However, African countries reacted negatively to the theory amid fear that it might lead to the COVID situation getting worse.
The stock market dropped by relatively $2 trillion following the news.