President Trump officially declares a national emergency, which will unlock access to $50B in funds.
He’s asking hospitals to activate emergency plans.
The order also gives broad authority to the U.S.Health & Human Service Department.
Includes ability to waive some federal laws to allow telemedicine.
Will waive interest on all student loans held by government agencies.
Will also purchase more crude oil to add to the strategic petroleum reserve. “We’re going to fill it up right to the top,” he said.
CMS director Seema Varma says the declaration will “suspend regulations that could get in the way of treating patients.” She announced that nursing homes will restrict non-medically-necessary visitors.
Trump says a half million more coronavirus tests will be available next week. “We’ll have the ability to do millions of tests in a very, very short period of time,” he said.
There will be some U.S. partnering with the private sector to increase testing.
Google (GOOG +5.9%) is helping to develop a website where people can find drive-through testing sites if they have symptoms, according to Dr. Deborah Birx, White House Coronavirus Response Coordinator. The website will be online starting Sunday evening, Trump said.
Walmart (WMT +6.7%), CVS (CVS +8.6%), Walgreens (WBA +9.2%), Target (TGT +9.7%), Roche Diagnostics (OTCQX:RHHBY), LabCorp (LH +8.6%), Quest Diagnostics (DGX) and Becton Dickinson (BDX +6.2%) are among companies working with the government.
He doesn’t want everyone “running out and taking a test.” Only those exhibiting certain symptoms should get tested, he said.
“We will overcome the threat of the virus,” he said.
“This will pass through and we will be even stronger for it,” he said as he was wrapping up his address.
“We’re learning a lot for future problems or worse, it could get worse,” Trump said.
When asked about Trump’s contact with an individual who has tested positive for coronavirus, he said he didn’t know that person and his contact was probably only a couple of seconds.
Still, he said he’ll “most likely” get tested for Covid-19, but not because of this contact with the infected individual.
Regarding domestic travel, “If you stay home, it’s not bad,” he said.
Press conference ends at ~4:45 PM ET.
Gilead Sciences (NASDAQ:GILD) perks up 6% premarket on light volume on the heels of reports that its experimental antiviral remdesivir has helped critically ill COVID-19 patients recover.
14 Americans with an average age of 75 who contracted SARS-CoV-2 infection on the Diamond Princess cruise ship were treated with the drug at hospitals in Japan.
After two weeks, all survived and more than half recovered. Five Americans remain critically ill. A total of 17 patients received daily intravenous treatment for 10 days.
The ship was placed under two-week quarantine on February 5 after docking in Yokohama. More than 700 passengers and crew tested positive. Eight died.
Remdesivir (GS-5734), a nucleotide prodrug that blocks a key enzyme needed for viral replication, is also being developed for Ebola virus infection.
In a brief speech today, Speaker Nancy Pelosi said that the House of Representatives will be passing a bill today, The Families First Coronavirus Response Act, that, she says, focuses support on America’s families. Key points:
Free coronavirus testing for anyone who needs it, including the uninsured.
Up to two weeks paid sick leave for those affected by COVID-19.
Unemployment insurance strengthened.
Subsidized/free meals for kids to be maintained if schools close.
The following healthcare companies have announced recent actions related to COVID-19:
OPKO Health (NASDAQ:OPK): Subsidiary BioReference Laboratories is now accepting samples for COVID-19. It is also offering a public drive-through testing facility in New Rochelle, NY, with additional satellite sites to be set up next week enabling the processing of up to 5,000 tests/day. Shares up 53% premarket.
Luminex (NASDAQ:LMNX): Announced that four independent laboratories have validated laboratory-developed tests (LDTs) using the ARIES System. It plans to file for an Emergency Use Authorization for ARIES SARS-CoV-2 next month.
FDA: On board with the New York State Department of Health authorizing certain in-state labs to begin patient testing after validation and notifying authorities.
Enanta Pharmaceuticals (NASDAQ:ENTA): Initiated a program to discover direct-acting antiviral drug candidates.
Can-Fite BioPharma (NYSEMKT:CANF): Will collaborate with the Lewis Katz School of Medicine at Temple University in Philadelphia to explore the potential effect of piclidenoson on coronaviruses. Shares up 25% premarket.
I-Mab BioPharma (NASDAQ:IMAB): Initiated development of TJM2, a neutralizing antibody against human granulocyte-macrophage colony stimulating factor (GM-CSF), to treat cytokine storm in severe and critically ill COVID-19 patients.
La Jolla Pharmaceutical Company (NASDAQ:LJPC): Will provide Giapreza (angiotensin II) in Italy for compassionate use in patients with septic shock associated with COVID-19. Shares up 36% premarket.
QIAGEN (NYSE:QGEN): Announced $598K in funding from BARDA to support accelerated development of its QIAstat-Dx test kit for identifying the genetic material of SARS-CoV-2.
The FDA has issued an Emergency Use Authorization for Roche’s (OTCQX:RHHBY) fully automated cobas SARS-CoV-2 Test for the qualitative (yes or no answer) detection of the coronavirus causing the current outbreak COVID-19.
The test, also available in markets accepting the CE Mark, is performed on nasopharyngeal and oropharyngeal swab samples.
The company says it has the capacity to perform “millions” of tests per month on its cobas 6800 and 8800 analyzers.
