Vaccines are big business: Moderna brings in $5.9 billion in one quarter

Covering COVID-19 is a daily Poynter briefing of story ideas on coronavirus and other hot topics for journalists, written by Senior Professor Al Tompkins. Sign up here to get it delivered to your inbox every weekday morning.

COVID-19 vaccines cost Americans nothing, but they’re hardly free. modern fair published its first quarter resultswhich showed vaccine sales more than tripled over the same period last year.

Moderna expects to sell $21 billion worth of vaccines this year. Wall Street was impressed: Moderna shares soared 7% on the news. The company says it expects to sell a lot of vaccines this fall as people prepare to take a second booster.

Moderna also said it plans to seek approval from the U.S. Food and Drug Administration for an updated version of the vaccine that will provide improved protection against the latest variants of COVID-19. He also has a vaccine in the works which he hopes will The FDA will approve next month for children under 5 years old.

the latest Kaiser Family Foundation COVID-19 Vaccine Monitor survey find :

  • About one in five parents of children under 5 (18%) are eager to get their child vaccinated right away.
  • A larger share (38%) say they plan to wait a while to see how the vaccine works for others.
  • About four out of ten parents of children under 5 are more reluctant to have their child vaccinated.
  • 27% say they will “definitely” not have their child vaccinated and 11% say they will only do so if necessary.
  • Just over half of parents of children in this age group say they do not have enough information about the safety and effectiveness of vaccines for children under 5 years old.

A selection of beef cuts are displayed at a Publix supermarket, Wednesday, Oct. 20, 2021, in Miami. (AP Photo/Marta Lavandier)

One of the nation’s biggest meat packers says summer grilling is about to get more expensive. Yahoo reports:

National Beef Company., controlled by Brazilian giant Marfrig Global Foods, is seeing relatively stable margins over the next two quarters, according to Tim Klein, who heads Marfrig’s U.S. operations. This means that even if their costs of buying cattle go up, the company will eventually be able to pass that on to consumers in the form of more expensive steaks and burgers.

“Cattle prices will go up, and beef prices will go up with them,” Klein said in an earnings interview.

The cost of meat has been front and center as consumers grapple with the fastest inflation in four decades. The average price of ground beef in U.S. grocery stores jumped 18% from a year ago, according to government data. American shoppers can adjust to inflation by opting for less expensive cuts, according to Klein.

Every month the US Department of Labor publishes something called the Shake report, which is short for Job Openings and Labor Turnover Summary. This is a calculation of the number of people who left their jobs and yes, there were 11.5 million job vacancies on March 30. As you can see in the government chart, this is the highest rate of open jobs since the Bureau of Labor Statistics began tracking this statistic 22 years ago.

(Bureau of Labor Statistics)

The report said:

In March, the number of resignations reached a serial high of 4.5 million (+152,000). The rate was little changed at 3.0%. Quits rose in professional and business services (+88,000) and in construction (+69,000). The number of resignations increased in the South region.

Here is the raw data by region and profession.

The Pew Research Center recently asked people why they left their jobs.

(Pew Research Center)

Pew found:

  • According to the survey from February 7 to 13, the majority of workers who left a job in 2021 say that low wages (63%), lack of opportunities for advancement (63%) and feelings of lack of respect at work (57%) are the reasons why they quit.
  • At least a third say that each of these reasons was the main reason for leaving.
  • About half say childcare issues were a reason they left a job (48% among those with a child under 18 in the household).
  • A similar proportion indicate a lack of flexibility to choose when they work their hours (45%) or not having good benefits such as health insurance and paid holidays (43%).
  • About a quarter say each of these reasons was a major reason.
  • About four in ten adults who quit their job in the last year (39%) say one reason was that they were working too many hours, while three in ten cite working too few hours.
  • About a third (35%) cite wanting to move to another area, while relatively few (18%) cite their employer requiring a COVID-19 vaccine as the reason.

For the most part, workers who left their jobs last year and are now working elsewhere see their current work situation as an improvement over their most recent job.

At least half of these workers say that compared to their last job, they now earn more money (56%), have more opportunities for advancement (53%), find it easier to balance work and family responsibilities (53%) and have more flexibility to choose when they work their hours (50%).

I see stories across the country about how hard it is to find formula. There are a few ingredients to this shortage, including a recall and – let’s put it together – “supply chain issues.” What started as an uneven shortage has turned into a much bigger problem. Stores limit purchases to avoid hoarding.

  • Shortage of infant formula 2022: which stores are rationing? When will this end? What there is to know –
  • What the baby formula shortage tells us about the nation’s priorities – Desert News
  • As Houston formula shortage worsens, parents scramble to find food for newborns – Houston Chronicle
  • Baby formula shortage is forcing Connecticut moms to extremes – NBC Connecticut
  • Infant formula shortages worsen due to recalls and supply chain issues: The shortage has led retailers such as Target, Walmart, Walgreens and CVS to limit their purchases – fox business
  • Shortage of infant formula is straining families and forcing stores to ration – The Washington Post

The Washington Post offers some advice From Brian Dittmeier, Senior Director of Public Policy at the National WIC Association:

Before switching formulas, parents should consult with their child’s healthcare provider. Diluting formula, making formula at home, or replacing breast milk with cow’s milk is “not nutritionally comparable to breast milk or formula,” Dittmeier warned, and could lead to deficiencies. nutrients that can have a “pronounced impact on infant growth and development”.

Parents who have trouble finding formula can contact their local WIC agencies and food banks for help locating it in their communities, Dittmeier said. But availability tracking tools haven’t worked well in recent weeks, and “the ripple effects of shortages on manufacturers and state lines” will likely continue to weigh on families for the foreseeable future.

We’ll be back tomorrow with a new edition of Covering COVID-19. Are you a subscriber? Sign up here to receive it straight to your inbox.

About Franklin Bailey

Check Also

Pensacola’s Sylvia Tisdale hikes Mount Kilimanjaro to help the hungry

When Sylvia Tisdalefounder and pastor of Epps Christian Ministriesturned 70 last October, she had accomplished …