Paxlovid, Pfizer's Covid-19 pill, seen here being manufactured in Ascoli, Italy. Pfizer via Reuters
Paxlovid, Pfizer's Covid-19 pill, seen here being manufactured in Ascoli, Italy. Pfizer via Reuters
Paxlovid, Pfizer's Covid-19 pill, seen here being manufactured in Ascoli, Italy. Pfizer via Reuters
Paxlovid, Pfizer's Covid-19 pill, seen here being manufactured in Ascoli, Italy. Pfizer via Reuters

US authorises first at-home Covid-19 pill treatment


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Live updates: follow the latest news on Covid-19 variant Omicron

Pfizer said on Wednesday that the US Food and Drug Administration (FDA) authorised its antiviral Covid-19 pill, making it the first at-home treatment for the coronavirus that is expected to become an important tool in the fight against the fast-spreading Omicron variant.

Data from Pfizer's clinical trial showed its antiviral regimen was 90 per cent effective in preventing hospital admission and death in patients at high risk of severe illness. Recent lab data suggests the drug retains its effectiveness against Omicron.

The agency said it authorised the oral drug for emergency use for the treatment of mild-to-moderate disease in adults and paediatric patients 12 years of age and older, weighing at least 40 kilograms, who are at high risk for progression to severe Covid-19.

“This authorisation provides a new tool to combat Covid-19 at a crucial time in the pandemic as new variants emerge and promises to make antiviral treatment more accessible to patients,” said Patrizia Cavazzoni, director of the FDA’s Centre for Drug Evaluation and Research.

The drug is available by prescription only and should be initiated as soon as possible after diagnosis of Covid-19 and within five days of symptom onset, the agency said.

The company said it was ready to start immediate delivery in the US and raised its production projections to 120 million courses of treatment from 80 million in 2022.

The US government's contract for 10 million courses of the Pfizer drug is priced at $530 per course.

  • A man wearing a protective face shield and two mask waits be vaccinated in Quito, Ecuador. Elderly people waited hours to be inoculated. AP Photo
    A man wearing a protective face shield and two mask waits be vaccinated in Quito, Ecuador. Elderly people waited hours to be inoculated. AP Photo
  • An aerial view of cars queuing at a drive-in Covid-19 testing site in the car park of Hiram Bithorn baseball stadium, in San Juan, Puerto Rico. Reuters
    An aerial view of cars queuing at a drive-in Covid-19 testing site in the car park of Hiram Bithorn baseball stadium, in San Juan, Puerto Rico. Reuters
  • A shopper wearing a mask is reflected in a window as she walks down Oxford Street in London. Daily numbers of Covid-19 cases have passed 100,000 for the first time in the UK. AP Photo
    A shopper wearing a mask is reflected in a window as she walks down Oxford Street in London. Daily numbers of Covid-19 cases have passed 100,000 for the first time in the UK. AP Photo
  • A nurse holds a vial of the Pfizer-BioNtech vaccine, in the Israeli town of Ramat Gan, near Tel Aviv. Israelis over the age of 60 and medical teams are being offered a fourth Covid shot.
    A nurse holds a vial of the Pfizer-BioNtech vaccine, in the Israeli town of Ramat Gan, near Tel Aviv. Israelis over the age of 60 and medical teams are being offered a fourth Covid shot.
  • An official hands out Covid-19 testing kits in Bensonhurst, Brooklyn, in New York. The resumption of holiday travel and the emergence of Omicron has left Americans scrambling to find Covid tests. AFP
    An official hands out Covid-19 testing kits in Bensonhurst, Brooklyn, in New York. The resumption of holiday travel and the emergence of Omicron has left Americans scrambling to find Covid tests. AFP
  • Amelie and Ludo Khayat hold each other during a visit at the Covid-19 unit of Marseille University Hospital Timone, in Marseille, southern France. Ludo, 41, is recovering after spending 24 days in a coma. AP Photo
    Amelie and Ludo Khayat hold each other during a visit at the Covid-19 unit of Marseille University Hospital Timone, in Marseille, southern France. Ludo, 41, is recovering after spending 24 days in a coma. AP Photo
  • Christmas shoppers brave the rain in Sydney's central business district. Covid-19 cases are rising in the Australian city and elsewhere in New South Wales, where health authorities have reported cases of the Omicron variant. Getty
    Christmas shoppers brave the rain in Sydney's central business district. Covid-19 cases are rising in the Australian city and elsewhere in New South Wales, where health authorities have reported cases of the Omicron variant. Getty
  • Travellers and vehicles crowd the departures and arrivals areas outside Tom Bradley International Terminal at Los Angeles International Airport during the holiday season. Reuters
    Travellers and vehicles crowd the departures and arrivals areas outside Tom Bradley International Terminal at Los Angeles International Airport during the holiday season. Reuters
  • Medical workers prepare to conduct Covid-19 tests at a pop-up screening clinic in front of Seoul Station in South Korea. New coronavirus cases in the country have fallen to 7,000, but critical cases and deaths have surged to record highs of 1,083 and 109, respectively. EPA
    Medical workers prepare to conduct Covid-19 tests at a pop-up screening clinic in front of Seoul Station in South Korea. New coronavirus cases in the country have fallen to 7,000, but critical cases and deaths have surged to record highs of 1,083 and 109, respectively. EPA
  • Car queue at a drive-through testing centre at Bondi Beach, in Sydney, Australia. New South Wales has broken another daily record for Covid-19 case numbers as Omicron takes hold, with hospital admissions almost doubling in a week. EPA
    Car queue at a drive-through testing centre at Bondi Beach, in Sydney, Australia. New South Wales has broken another daily record for Covid-19 case numbers as Omicron takes hold, with hospital admissions almost doubling in a week. EPA
  • A queue for Covid screening in Manhattan. Test provider CityMD closed 13 branches in New York temporarily because of staff shortages as demand surged. AFP
    A queue for Covid screening in Manhattan. Test provider CityMD closed 13 branches in New York temporarily because of staff shortages as demand surged. AFP
  • Travellers queue outside the security checkpoint at Hartsfield-Jackson Atlanta International Airport in Georgia, US, as the Omicron variant spurs a rise in case numbers in many countries. Reuters
    Travellers queue outside the security checkpoint at Hartsfield-Jackson Atlanta International Airport in Georgia, US, as the Omicron variant spurs a rise in case numbers in many countries. Reuters
  • Cars line up at a drive-through Covid-19 testing site at Tropical Park in Miami, Florida. As Covid-19 cases rise in the US, healthcare workers are urging people to take precautions during holiday get-togethers. AFP
    Cars line up at a drive-through Covid-19 testing site at Tropical Park in Miami, Florida. As Covid-19 cases rise in the US, healthcare workers are urging people to take precautions during holiday get-togethers. AFP
  • People wait in the check-in queue for Air France/KLM at Tom Bradley International Terminal at Los Angeles International Airport. EPA
    People wait in the check-in queue for Air France/KLM at Tom Bradley International Terminal at Los Angeles International Airport. EPA
  • Christmas shoppers pictured out and about in Nottingham, England. The UK government has not imposed further restrictions in England to slow the spread of the Omicron variant. PA
    Christmas shoppers pictured out and about in Nottingham, England. The UK government has not imposed further restrictions in England to slow the spread of the Omicron variant. PA
  • Pastor David Shrimpton, 57, known as the ‘flying padre’, puts on a face mask as he prepares to speak to pupils about Christmas at a school in Broken Hill, Australia. Since 2003, he has flown to some of Australia’s most isolated communities to preach. Reuters
    Pastor David Shrimpton, 57, known as the ‘flying padre’, puts on a face mask as he prepares to speak to pupils about Christmas at a school in Broken Hill, Australia. Since 2003, he has flown to some of Australia’s most isolated communities to preach. Reuters
  • Medical workers treat a patient with Covid-19 in intensive care during the fifth wave of the pandemic in Neuchatel, Switzerland. EPA
    Medical workers treat a patient with Covid-19 in intensive care during the fifth wave of the pandemic in Neuchatel, Switzerland. EPA
  • A protester wears a latex mask with syringes attached to it during a rally in front of the government headquarters in Bucharest, Romania. Marchers object to a Covid-19 ‘green certificate’ in workplaces to limit infections. AP
    A protester wears a latex mask with syringes attached to it during a rally in front of the government headquarters in Bucharest, Romania. Marchers object to a Covid-19 ‘green certificate’ in workplaces to limit infections. AP
  • Dr Sydney Sewall fills a syringe with a Covid-19 vaccine at a clinic in Augusta, Maine, US. AP
    Dr Sydney Sewall fills a syringe with a Covid-19 vaccine at a clinic in Augusta, Maine, US. AP
  • A coronavirus test centre employee waits for clients on the shop-lined Kurfuerstendamm street in Berlin. Germany has announced new restrictions aimed at slowing the spread of the Omicron variant. AP
    A coronavirus test centre employee waits for clients on the shop-lined Kurfuerstendamm street in Berlin. Germany has announced new restrictions aimed at slowing the spread of the Omicron variant. AP
  • A drive-through testing centre in Bellingham, Washington. The US state, which was hit hard early in the pandemic, has reported at least 400 cases of Omicron. AP
    A drive-through testing centre in Bellingham, Washington. The US state, which was hit hard early in the pandemic, has reported at least 400 cases of Omicron. AP
  • New Yorkers check their Covid-19 results outside a rapid testing centre in Manhattan. AP
    New Yorkers check their Covid-19 results outside a rapid testing centre in Manhattan. AP
  • People line up to be tested for Covid-19 in Washington, DC. Omicron variant is now the main coronavirus variant in the US. AFP
    People line up to be tested for Covid-19 in Washington, DC. Omicron variant is now the main coronavirus variant in the US. AFP
  • Holiday travellers transit through Dulles International Airport in Virginia. United Airlines chief executive Scott Kirby has said the coming two weeks are expected to be its busiest since the pandemic began, despite Omicron. AFP
    Holiday travellers transit through Dulles International Airport in Virginia. United Airlines chief executive Scott Kirby has said the coming two weeks are expected to be its busiest since the pandemic began, despite Omicron. AFP
  • Early closing for Oliver St John Gogarty, a pub in Temple Bar, Dublin. Under Irish coronavirus rules, which will last until January 30, hospitality venues must shut by 8pm. Getty
    Early closing for Oliver St John Gogarty, a pub in Temple Bar, Dublin. Under Irish coronavirus rules, which will last until January 30, hospitality venues must shut by 8pm. Getty
  • People enjoy refreshments at a Christmas market in Piccadilly Gardens in Manchester. The UK government has faced pressure to tighten coronavirus restrictions. AFP
    People enjoy refreshments at a Christmas market in Piccadilly Gardens in Manchester. The UK government has faced pressure to tighten coronavirus restrictions. AFP
  • A Ferris wheel in the historic centre of Antwerp, Belgium. The government will meet to decide whether new Covid-19 measures will be taken. AP
    A Ferris wheel in the historic centre of Antwerp, Belgium. The government will meet to decide whether new Covid-19 measures will be taken. AP
  • A child watches a Covid-19 test being administered in Washington, DC. EPA
    A child watches a Covid-19 test being administered in Washington, DC. EPA
  • A poster featuring Father Christmas and Wee Jimmy Krankie, a popular character from children’s TV, on Leith Walk, Edinburgh. The Scottish government is considering whether to tighten Covid restrictions. PA
    A poster featuring Father Christmas and Wee Jimmy Krankie, a popular character from children’s TV, on Leith Walk, Edinburgh. The Scottish government is considering whether to tighten Covid restrictions. PA
  • A man receives his Covid-19 vaccine inside a National Health Service bus in the town of Farnworth, near Manchester in north-west England. AFP
    A man receives his Covid-19 vaccine inside a National Health Service bus in the town of Farnworth, near Manchester in north-west England. AFP
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    A trader works on the floor of the New York Stock Exchange at the start of trading on Monday after Friday’s steep decline in global stocks amid fears about the Omicron variant. Stocks fell sharply in morning trading, with the Dow falling more than 500 points. Getty
  • People arrive to receive a booster dose of Covid-19 vaccine at an inoculation centre in Kuwait City. EPA
    People arrive to receive a booster dose of Covid-19 vaccine at an inoculation centre in Kuwait City. EPA
  • People crowd together without social distancing at a railway station in Bangalore, India. EPA
    People crowd together without social distancing at a railway station in Bangalore, India. EPA
  • Women wear masks in Tehran. The Iranian Health Ministry said it had found a case of the Omicron variant in the country. EPA
    Women wear masks in Tehran. The Iranian Health Ministry said it had found a case of the Omicron variant in the country. EPA
  • People wait to receive a dose of the Pfizer-BioNTech Covid-19 vaccine in Bangkok, Thailand. Bloomberg
    People wait to receive a dose of the Pfizer-BioNTech Covid-19 vaccine in Bangkok, Thailand. Bloomberg
  • Churchgoers wearing masks observe social distancing as they attend a pre-dawn Mass at a church in Paranaque, Metro Manila, Philippines. Getty
    Churchgoers wearing masks observe social distancing as they attend a pre-dawn Mass at a church in Paranaque, Metro Manila, Philippines. Getty
  • An intubated Covid-19 patient receives treatment in the intensive care unit of Westerstede Clinical Centre in north-west Germany. AP
    An intubated Covid-19 patient receives treatment in the intensive care unit of Westerstede Clinical Centre in north-west Germany. AP

The Pfizer pills, taken with the older antiviral drug ritonavir, will be sold under the brand name Paxlovid.

The pills are meant to be taken every 12 hours for five days beginning shortly after the onset of symptoms.

Ritonavir is known to have interactions with some other prescription medicines. Pfizer has said that should be manageable and suggested most patients would be able to lower the doses of their other medications while being treated for Covid-19.

Pfizer said it plans to file a new drug application with the FDA in 2022 for potential full regulatory approval.

A rival pill from Merck, which is under review by the FDA, has shown lower efficacy compared with Pfizer's treatment. Merck's drug, molnupiravir, reduced hospital admissions and deaths in its clinical trial of high-risk patients by about 30 per cent.

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Nepotism is the name of the game

Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad. 

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

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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.”

The Beach Bum

Director: Harmony Korine

Stars: Matthew McConaughey, Isla Fisher, Snoop Dogg

Two stars

TCL INFO

Teams:
Punjabi Legends 
Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan

Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
When December 14-17

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'Avengers: Infinity War'
Dir: The Russo Brothers
Starring: Chris Evans, Chris Pratt, Tom Holland, Robert Downey Junior, Scarlett Johansson, Elizabeth Olsen
Four stars

Updated: December 22, 2021, 6:57 PM