U.S. supplies of COVID-19 therapies and vaccines at risk amid funding dispute
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A disagreement between Republican senators and the White House over funding for COVID-19 therapeutics and vaccines could imperil the Biden administrationâs efforts to provide pandemic relief for Americans this year.
The dispute stems from the level of transparency provided by the government on how it spent over $4 trillion COVID-19 relief funds authorized by the Congress. The administration has sought another $22.5 billion for future needs in vaccines, oral antivirals, and monoclonal antibodies, testing, and also global vaccination efforts.
âThis is an urgent request,â Jen Psaki, the White House press secretary, said Friday, adding that current supplies of monoclonal antibodies will be exhausted by May, and stocks of oral antivirals will run out in September without additional purchases.
However, a group of three dozen Republican senators, including Senate Minority Leader Mitch McConnell (R-Ky.), informed the White House last week, they would not consider additional funding without more details on how previous allocations were spent and if there are any remaining funds.
âIt is not yet clear why additional funding is needed,â The New York Times reported quoting their remarks as mentioned in a letter sent to President Biden on Wednesday.
In a letter to Congress, the administration outlined plans for new COVID-19 spending last week. However, instead of seeking additional finds, the senators have suggested the government consider allocating funds from the $1.9 trillion pandemic law to the required areas.
The dispute comes at a time COVID-19 cases are on the decline in the U.S. However, the virus accounts for an average of over 1,500 deaths in the country each day. As the threat of Omicron-fueled surge wanes, more and more local government bodies are also dropping mask mandates and vaccine requirements.
During the State of the Union speech last week, President Biden unveiled a new initiative to provide free antiviral pills at pharmacies for those who test positive for COVID-19.
The makers of COVID-19 pills: Pfizer (PFE
-1.7%), Merck (MRK
-1.2%)
Developers of COVID-19 antibody therapies: Eli Lilly (LLY
-1.0%)-AbCellera (ABCL
-2.7%), GlaxoSmithKline (GSK
-1.9%)/ Vir Biotechnology (VIR
-2.3%), AstraZeneca (AZN
-1.6%), Roche (OTCQX:RHHBY
-0.5%) / Regeneron (REGN
+0.3%)
Manufacturers of rapid COVID-19 antigen tests: Becton, Dickinson (BDX
-1.9%), Quidel (QDEL
-0.2%), Abbott Laboratories (ABT
-3.0%), Roche (OTCQX:RHHBY
-0.5%)
The developers of U.S.-authorized COVID-19 vaccines: Pfizer (NYSE:PFE), BioNTech (NASDAQ:BNTX), Moderna (MRNA
-5.9%), Johnson & Johnson (JNJ
+0.2%)
Read: How the decline in COVID-19 cases will impact the need for booster shots.
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