Another Covid-19 vaccine is likely to be approved for use in the US after an expert committee voted in its favour.
The advisory committee of the US Food and Drug Administration decided that the benefits of the two-dose Novavax inoculation outweighed its risks.
While the vote – 21 in favour with one abstention – does not mean the shot has emergency use authorisation, it is likely to follow.
Development of the vaccine received $1.8 billion of American government funds, but it has yet to receive approval in the US, despite already having been administered in at least 41 other countries, reports say.
During a public online meeting on Tuesday of the FDA’s vaccines and related biological products advisory committee, members and external speakers offered a range of views.
One argument given in favour of the shot was that it used more established technology than the frequently used mRNA and viral vector Covid-19 vaccines, the nature of which may have put some people off being vaccinated.
The Novavax vaccine, which could be used as a booster shot for vaccinated people, may therefore find a market among the tens of millions of adults in the US who have declined an injection.
Only about 76.7 per cent of adults in the US eligible to receive a Covid-19 dose have been fully vaccinated with two doses.
The Moderna and Pfizer-BioNTech shots are fully approved in the US. A shot made by Johnson & Johnson's Janssen pharmaceutical company has received emergency use authorisation.
Dr Peter Marks, director of the Centre for Biologics Evaluation and Research at the FDA, said there was still a need for more vaccines.
“Although we have mRNA vaccines — we have the Janssen vaccine out there — the Janssen vaccine is not currently used as a frontline vaccine, which leaves the issue of vaccine for those who may not want to take an mRNA vaccine as needing potentially an alternative,” he said.
“Having a protein-based alternative may be more comfortable for some in terms of the acceptance of the vaccine. We do have a problem of vaccine uptake that’s very serious in the US.
“Anything we can do to encourage people to take these potentially live-saving medical products is something we feel compelled to do.”
Concerns were raised of insufficient data about efficacy and risk of serious side-effects, and Novavax conceded that it lacked data on how well the vaccine worked against the Omicron variant.
Among the advantages Novavax highlighted was that its vaccine could be stored at refrigerator temperatures, making it easy to distribute and administer.
The vaccine is made up of coronavirus proteins and an additional substance, an adjuvant, that causes the immune system to react more strongly.
This immune response to the proteins offers protection for people infected with the coronavirus.
The Pfizer-BioNTech and Moderna shots are, by contrast, based on a type of genetic material, mRNA, that causes the cells of recipients to produce virus proteins.
Another type, which forms the basis of the Oxford-AstraZeneca and Janssen vaccines, also makes human cells produce virus proteins, but does this by using viral vectors to deliver the genetic instructions for the proteins into the cells.
Some other Covid-19 vaccines have been associated with a small increased risk of myocarditis, an inflammation of the heart muscle, and pericarditis, an inflammation of the tissue that surrounds the heart, particularly in adolescent males.
Clinical studies have looked at whether this is a concern with the Novavax shot.
Novavax described myocarditis as “an important potential risk” but said more data would be needed to understand whether the vaccine could cause this condition in rare instances.
It said that overall the vaccine had “a positive safety profile”.
The FDA presented data indicating that among 40,000 recipients of the Novavax jab, six reported myocarditis or pericarditis, most within 20 days of being inoculated.
It listed myocarditis and pericarditis as among the “known and potential risks” of the vaccine, alongside Guillain-Barré syndrome, a rare condition affecting the nerves.
Dr Raburn Mallory, senior vice president and head of clinical development at Novavax, said the vaccine “induced high levels of neutralising antibodies in both younger and older adults”.
“Our vaccine is highly efficacious at preventing Covid-19 in a large Phase 3 study," Dr Mallory said. "This efficacy was demonstrated against all the variants that circulated during the study.
“The vaccine also provided complete protection from moderate or severe Covid-19 in our clinical study.
"Our vaccine also demonstrated consistently high efficacy across subgroups, including race, gender and individuals with co-morbidities.”
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
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Turkish Ladies
Various artists, Sony Music Turkey
COMPANY PROFILE
Name: Akeed
Based: Muscat
Launch year: 2018
Number of employees: 40
Sector: Online food delivery
Funding: Raised $3.2m since inception
Dates for the diary
To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:
- September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
- October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
- October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
- November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
- December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
- February 2, 2018 Bodytree will host its 4th annual yoga market.
Champions parade (UAE timings)
7pm Gates open
8pm Deansgate stage showing starts
9pm Parade starts at Manchester Cathedral
9.45pm Parade ends at Peter Street
10pm City players on stage
11pm event ends
Dubai works towards better air quality by 2021
Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.
The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.
These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.
“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.
“We’re in a good position except for the cases that are out of our hands, such as sandstorms.
“Sandstorms are our main concern because the UAE is just a receiver.
“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”
Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.
There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.
“There are 25 stations in total,” Mr Al Daraji said.
“We added new technology and equipment used for the first time for the detection of heavy metals.
“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”
if you go
The flights
Emirates have direct flights from Dubai to Glasgow from Dh3,115. Alternatively, if you want to see a bit of Edinburgh first, then you can fly there direct with Etihad from Abu Dhabi.
The hotel
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Located in the heart of Mackintosh's Glasgow, the Dakota Deluxe is perhaps the most refined hotel anywhere in the city. Doubles from Dh850
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Events and tours
There are various Mackintosh specific events throughout 2018 – for more details and to see a map of his surviving designs see glasgowmackintosh.com
For walking tours focussing on the Glasgow Style, see the website of the Glasgow School of Art.
More information
For ideas on planning a trip to Scotland, visit www.visitscotland.com
Company%20Profile
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SPEC%20SHEET
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