World's first approval of 'next generation' Omicron vaccine booster


Simon Rushton
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Britain has become the first country in the world to approve a “next generation” Covid-19 vaccine that targets both the original and Omicron variants.

The UK medicines regulator, the MHRA, approved the bivalent vaccine made by US drug company Moderna as a booster for adults.

The agency's decision was based on clinical trial data that showed the booster triggered “a strong immune response” against both Omicron (BA.1) and the original 2020 virus, it said.

The MHRA also cited an exploratory analysis in which the shot was also found to generate a good immune response against the currently dominant Omicron offshoots BA.4 and BA.5.

Such an approach is used with flu shots, which are adjusted each year depending on the variants that are circulating and can protect against four influenza strains.

MHRA chief executive Dr June Raine said the new vaccine give "a sharpened tool in our armoury to help protect us against this disease as the virus continues to evolve".

The development came as it was announced that Pfizer chief executive Albert Bourla has tested positive for Covid-19 and is receiving Paxlovid, the treatment made by his company. He is experiencing very mild symptoms, a company statement said.

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    Unmasked travellers wait in long lines at a security checkpoint at Denver airport on July 5, 2022. Many airports and airlines no longer require mask use or social distancing, and many don't require pre-flight testing. David Zalubowski / AP
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    Millions of travellers have shrugged off the threat still posed by the pandemic to see friends and family for the first time in years, such as this family in Auckland, New Zealand. Fiona Goodall / Getty Images

Britain was the first country to approve a coronavirus vaccine in late 2020.

Developers of some of the world’s most widely used Covid shots, from Pfizer and Moderna to China’s Sinovac Biotech have all started developing new shots targeting Omicron.

According to the World Health Organisation, the latest global surge of Covid-19 has been driven by omicron subvariant BA.5, which is responsible about 70 per cent of the virus samples shared with the world’s largest public virus database. The subvariant BA.5 is even more infectious than the original version of omicron and has some genetic differences that earlier vaccines might not address.

Moderna's chief medical officer Dr Paul Burton previously said that its vaccine could boost a person's antibodies to such high levels that it may only be needed annually.

In June the, company said trial data showed that when given as a fourth dose, the variant-adapted shot raised virus-neutralising antibodies by eight-fold against Omicron.

Stephane Bancel, Moderna's chief executive, described it as a “next generation Covid-19 vaccine” that will play an “important role in protecting people in the UK from Covid-19" in winter.

Mr Bancel said: “This bivalent vaccine has an important role to play in protecting people in the UK from Covid-19 as we enter the winter months.”

Mr Bancel said the drug had “consistently shown superior breadth of immune response” over alternatives in clinical trials.

Now approval has been secured, the UK's Joint Committee on Vaccination and Immunisation (JCVI) will advise on how the vaccine should be used in the country.

The UK government said last month a vaccine booster programme would begin in "early autumn" and that shots would offered to over 50s, individuals in clinical risk groups, frontline workers and care homes staff.

While existing Covid-19 vaccines continue to provide good protection against hospital admission and death, vaccine effectiveness has taken a hit as the virus has evolved.

The MHRA said the side effects were the same as those in the original Moderna booster dose and were typically mild.

Prof Sir Munir Pirmohamed, chairman of the commission on human medicines, an independent body sponsored by the DHSC to advise ministers on the safety, efficacy and quality of medicinal products, said the vaccine was safe to use.

He said: “The Commission on Human Medicines and its Covid-19 Vaccines Expert Working Group has independently reviewed the data on safety, quality and effectiveness and agrees with the MHRA's decision.”

Moderna said it had completed its applications for regulatory approval of the booster in Australia, Canada and the EU. PA
Moderna said it had completed its applications for regulatory approval of the booster in Australia, Canada and the EU. PA

He said that since the coronavirus was “continually evolving in order to evade the immunity provided by vaccines”, constant updates to the drugs were needed.

Scientists have warned that the continued genetic evolution of Covid-19 means drugmakers will likely be one step behind the virus in their efforts to tailor their vaccines.

“The virus is unlikely to stand still and Omicron-targeted immunity, might push the virus down other evolutionary paths,” warned Jonathan Ball, a professor of virology at Britain’s University of Nottingham. Still, he said the new Moderna vaccine would likely still be protective.

“Unless there is a major shift in the virus, immunity will continue to protect the vast majority from serious disease caused by emerging variants,” he said in a statement.

Prof Pirmohamed said a recent paper in medical journal The Lancet suggested that coronavirus vaccines prevented up to 20 million deaths in their first year of use.

Moderna said it had also completed its applications for regulatory approval of the booster in Australia, Canada and the EU.

European Medicines Agency (EMA) officials expect Covid variant-adapted vaccines to be approved in September, and have signalled the regulator is open to using shots targeting the older BA.1 variant this autumn, given those specifically targeting newer subvariants are further behind in clinical development.

In contrast, the US Food and Drug Administration has said it would seek the specific inclusion of the newer BA.4 and BA.5 offshoots of Omicron in any new shots used domestically.

Known as mRNA-1273.214, the dose is an updated version of the Moderna vaccine which is already in use for first, second and booster doses.

Pfizer Inc and BioNTech have also been testing versions of their mRNA vaccine, modified to combat Omicron variants.

Sanofi and its partner GSK are working on a protein-based vaccine that targets the Beta subvariant, which dominated for some time last year.

What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

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If you go...

Etihad Airways flies from Abu Dhabi to Kuala Lumpur, from about Dh3,600. Air Asia currently flies from Kuala Lumpur to Terengganu, with Berjaya Hotels & Resorts planning to launch direct chartered flights to Redang Island in the near future. Rooms at The Taaras Beach and Spa Resort start from 680RM (Dh597).

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Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

What drives subscription retailing?

Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.

The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.

The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.

The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.

UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.

That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.

Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.

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Director: Hasan Hadi

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How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
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Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

The Gandhi Murder
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  • 34 - Nationalities featured in the film The Gandhi Murder
  • 7 - million dollars, the film's budget 
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Company profile: buybackbazaar.com

Name: buybackbazaar.com

Started: January 2018

Founder(s): Pishu Ganglani and Ricky Husaini

Based: Dubai

Sector: FinTech, micro finance

Initial investment: $1 million

Updated: August 15, 2022, 5:42 PM