Tag Archives: covid-19 medical supplies

Severe Damage to Beliefs Lasting a Lifetime: covid-19

According to a new study  “Scarring Body and Mind: The Long-Term Belief-Scarring
Effects of COVID-19
” the largest economic cost of the COVID-19 pandemic could arise from changes in behavior long after the immediate health crisis is resolved. A potential source of such a long-lived change is scarring of beliefs, a persistent change in the perceived probability of an extreme, negative shock in the future. Even if a vaccine cures everyone in a year, the COVID-19 crisis will leave its mark on the US economy for many years to come because of the mass revision of beliefs that lasts through a lifetime. Even before the COVID-19 pandemic, people were aware of the disruptive impacts that a pandemic could theoretically have on their lives and the economy. But the tangible, persistent and severe harms associated with an actual pandemic change beliefs about the probability of another similar shock in ways that abstract knowledge cannot.

Excerpts from Free Exchange: Razing Hopes, Economist, Aug. 29, 2020 [adapted]

Everyone for Themselves: COVID-19 Drug Reserved for U.S.

On June 29, 2020 the US Department of Health and Human Services (HHS) announced an agreement to secure large supplies of the drug remdesivir for the United States from Gilead Sciences through September, allowing American hospitals to purchase the drug in amounts allocated by HHS and state health departments….HHS has secured more than 500,000 treatment courses of the drug for American hospitals through September. This represents 100% of Gilead’s projected production for July (94,200 treatment courses), 90% of production in August (174,900 treatment courses), and 90% of production in September (232,800 treatment courses), in addition to an allocation for clinical trials. A treatment course of remdesivir is, on average, 6.25 vials.

Hospitals will receive the product shipped by AmerisourceBergen and will pay no more than Gilead’s Wholesale Acquisition Price (WAC), which amounts to approximately $3,200 per treatment course.

Excerpts from Trump Administration Secures New Supplies of Remdesivir for the United States, June 29, 2020

U.S. Desperation for Face Masks: Wild West or Piracy?

From Europe to South America, U.S. allies are complaining about the superpower’s “Wild West” tactics in outbidding or blocking shipments to buyers who have already signed deals for vital medical supplies. …”Money is irrelevant. They pay any price because they are desperate,” one high-level official in German Chancellor Angela Merkel’s ruling CDU/CSU group told Reuters….In April 5, 2020, US President Trump said he was signing a directive to stop the export of N95 respirator masks, which provide essential protection for health-care workers, and other U.S. medical equipment. Furthermore, 3M, a US company, said that the White House had ordered it to stop all shipments to Canada and Latin America of respirators that it manufactures in the U.S., despite what 3M called “significant humanitarian implications.”

In another case, an order of 200,000 masks bound for Germany was diverted to the U.S….Germany’s Secretary of Interior Andreas Geisel called it an “act of modern piracy.” He stated that: “even in times of global crisis, you shouldn’t use Wild West methods.”

U.S. allies complain of ‘Wild West’ tactics in race for medical supplies, Reuters, April 56, 2020