A US Food and Drug Administration (FDA) advisory panel on Friday voted against recommending a Pfizer Covid-19 booster for the general population but approved it for people over the age of 65 and for those at high risk of severe illness.
The FDA’s Vaccines and Related Biological Products Advisory Committee voted 16 to 2 against measure after a day-long meeting discussing the safety and effectiveness of Pfizer's Covid-19 booster vaccine.
“There are very clear populations where a booster may be appropriate, such as elderly or immunocompromised,” said National Institutes of Health scientist Michael Kurilla.
“It’s not clear to me that the data we’re seeing right now is applicable or necessary for the general population.”
A second vote resulted in unanimous approval to recommend the Pfizer Covid-19 booster shot for people over the age of 65 and anyone who is at high risk.
The FDA does not have to follow the committee's recommendations, but it often does.
The decision may delay President Joe Biden's planned September 20 roll-out for booster shots in the US, which has drawn criticism for promising booster vaccines before they were approved by the FDA and CDC.
Eight top health officials in the Biden administration - including the heads of the FDA and Centres for Disease Control and Prevention - advocated booster shots last month.
Pfizer pointed to data collected from a study in Israel that showed boosters were necessary, determining from the study that protection from its second dose weakens after six months and arguing the need for a third dose to restore protection to “95 per cent effectiveness".
But this is in contrast to the neutral stance the FDA took this week in a 23-page report.
The agency noted observational studies such as the one conducted in Israel could include “known and unknown biases that can affect their reliability” and added that US vaccines such as Pfizer can “still afford protection against severe Covid-19 disease and death in the United States".
“If the advisory committee votes not to support boosters, this will put the administration in an awkward position,” said Norman Baylor, former director of the FDA’s Office of Vaccines Research and Review and now chief executive at Biologics Consulting.
A CDC advisory committee will meet separately next week to discuss booster shots. The CDC urged health officials to wait to administer boosters until they are granted approval by the FDA and CDC, CNN reported.
A group of international experts, which included two outgoing FDA vaccine regulators, argued against the need for boosters in a paper released on Monday in a striking rebuke of Mr Biden's booster plan.
The report stated that the messaging for boosters could undermine the need for primary vaccination, noting that unvaccinated people remain at the highest risk of severe disease and are the main drivers of transmitting the illness.
US Surgeon General Dr Vivek Murphy on Friday said August's roll-out announcement was to provide transparency and planning.
White House Press Secretary Jen Psaki on Thursday defended the administration's plan, pointing to health officials determining in August that boosters would be needed.
“We really rely on the people who are leading our health and medical agencies. And there is broad agreement among those individuals about where things stand,” Ms Psaki said.
FDA Commissioner Janet Woodcock and CDC Director Rochelle Walensky both publicly supported the Biden administration's roll-out last month, but a negative review could put them at odds with their own agencies.
The argument for booster vaccines gained momentum as the highly transmissible Delta variant tore through the US this summer, particularly in states with low vaccination rates.
The US has already begun offering third doses to those with severely compromised immune systems.
Moderna has also asked for approval of its own booster shot, but it remains unclear when the FDA will debate that or the need for a Johnson & Johnson booster.
Mr Biden's proposed roll-out is part of a new six-pronged plan to combat the Covid-19 pandemic that includes sweeping mask and vaccine mandates.
To date, more than 670,000 Americans have died from the disease.
The Outsider
Stephen King, Penguin
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CREW
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The biog
Hobbies: Salsa dancing “It's in my blood” and listening to music in different languages
Favourite place to travel to: “Thailand, as it's gorgeous, food is delicious, their massages are to die for!”
Favourite food: “I'm a vegetarian, so I can't get enough of salad.”
Favourite film: “I love watching documentaries, and am fascinated by nature, animals, human anatomy. I love watching to learn!”
Best spot in the UAE: “I fell in love with Fujairah and anywhere outside the big cities, where I can get some peace and get a break from the busy lifestyle”
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Results:
5pm: Maiden (PA) Dh80,000 2,200m | Winner: AF Al Montaqem, Bernardo Pinheiro (jockey), Ernst Oertel (trainer)
5.30pm: Maiden (PA) Dh80,000 1,200m | Winner: Daber W’Rsan, Connor Beasley, Jaci Wickham
6pm: Handicap (PA) Dh85,000 1,600m | Winner: Bainoona, Fabrice Veron, Eric Lemartinel
6.30pm: Handicap (PA) Dh80,000 1,600m | Winner: AF Makerah, Antonio Fresu, Ernst Oertel
7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 | Winner: AF Motaghatres, Antonio Fresu, Ernst Oertel
7.30pm: Handicap (TB) Dh90,000 1,600m | Winner: Tafakhor, Ronan Whelan, Ali Rashid Al Raihe
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BUNDESLIGA FIXTURES
Friday Stuttgart v Cologne (Kick-off 10.30pm UAE)
Saturday RB Leipzig v Hertha Berlin (5.30pm)
Mainz v Borussia Monchengladbach (5.30pm)
Bayern Munich v Eintracht Frankfurt (5.30pm)
Union Berlin v SC Freiburg (5.30pm)
Borussia Dortmund v Schalke (5.30pm)
Sunday Wolfsburg v Arminia (6.30pm)
Werder Bremen v Hoffenheim (9pm)
Bayer Leverkusen v Augsburg (11.30pm)
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The specs
Engine: 3.8-litre twin-turbo flat-six
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