World pledges medical aid to India amid surging COVID-19 infections

Apr. 26, 2021 3:21 AM ETAstraZeneca PLC (AZN), PFE, JNJ, EPI, INDY, PIN, INDL, NFTY, SPY, OCGN, SMIN, INCO, INR, FLIN, IXSE, IIFSPY, IIF, JNJ, PFE, AZN, EPI, PIN, INR, INDY, INDL, INCO, INDA, SMIN, NFTY, OCGN, FLIN, MRNA, IXSEBy: Mamta Mayani, SA News Editor51 Comments
  • The Biden administration will immediately provide aid to India, including the raw materials needed for making COVID-19 vaccines, drugs, test kits, ventilators and personal protective equipment as the country struggles to contain a devastating coronavirus outbreak - The New York Times.
  • The announcement came after Jake Sullivan, President Biden’s national security adviser, held a call earlier in the day with Ajit Doval, his counterpart in India, and as India reports higher case numbers each day.
  • The U.S. was also pursuing options to provide India with oxygen generation and related supplies, National Security Council spokeswoman Emily Horne said.
  • On Sunday, Biden wrote on Twitter that his administration was “determined to help India in its time of need.”
  • Also, in an appearance on ABC’s “This Week” on Sunday, Dr. Anthony S. Fauci said the U.S. would consider sending some doses of the AstraZeneca (NASDAQ:AZN) vaccine there.
  • AstraZeneca’s vaccine is not yet approved in the U.S., which has stockpiled millions of doses, and top U.S. health officials have said they have enough doses of approved versions by three other drugmakers to inoculate all Americans in coming weeks.
  • In addition to the immediate aid, The U.S. International Development Finance Corporation is funding a “substantial expansion” in manufacturing capability to enable the Indian vaccine manufacturer Biological E to produce at least 1B vaccine doses by the end of 2022, Horne said, and the government is deploying a team of public health experts to work with Indian authorities.
  • India continued to report a record number of fresh COVID-19 cases and deaths daily. On Monday, the government reported almost 353,000 new daily infections, the fifth consecutive day the country set a world record. India reported over 2,800 deaths yesterday, bringing the total death toll to 1.95L
  • Also, European Commission (EC) President Ursula von der Leyen tweeted Sunday that the bloc was “pooling resources” to respond rapidly to an Indian request for help - Reuters.
  • The EC has activated its EU Civil Protection Mechanism and is seeking to send oxygen and medicine to virus-hit India after receiving a request from Delhi.
  • “Alarmed by the epidemiological situation in India. We are ready to support,” EC President Ursula von der Leyen wrote on Twitter on Sunday.
  • Many countries have already provided aid. Singapore sent oxygen containers to India on Saturday. Germany was airlifting 23 mobile oxygen generation plants to the country.
  • India worked with private companies to ship 80 metric tons of liquid oxygen from Saudi Arabia, the Indian Embassy in Riyadh announced Saturday.
  • China and Russia have offered help, while Pakistan is ready to give ventilators, digital X-ray machines, PPE and other supplies to India, Pakistani Foreign Minister Shah Mahmood Qureshi tweeted Sunday.
  • The Indian government is moving to vaccinate people as quickly as possible, but the size of the population makes the task daunting.
  • As India grapples with the COVID-19 storm, the country is in talks with Pfizer (NYSE:PFE) to deploy its vaccines.
  • Also, Johnson & Johnson's (NYSE:JNJ) single-shot COVID-19 vaccine is expected to be imported in India by July 2021.
  • Earlier, Ocugen (NASDAQ:OCGN) partner Bharat Biotech's vaccine, Covaxin showed efficacy against new variant behind India’s second wave.
  • BSE Sensex +1.17% at 48,430.
  • India ETFs such as iShares MSCI India ETF (BATS:INDA), WisdomTree India Earnings ETF (NYSEARCA:EPI), iShares S&P India Nifty Fifty Index ETF (NASDAQ:INDY), Invesco India ETF (NYSEARCA:PIN), Direxion Daily India 3x Bull Shares ETF (NYSEARCA:INDL) and First Trust Exchange-Traded AlphaDEX Fund II - First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) fell more than 5% over the past one month while the SPDR S&P 500 Trust ETF (NYSEARCA:SPY) gained around 6%. Other Indian ETFs: IIF, SMIN, INCO, INR, FLIN, IXSE

Recommended For You

Comments (51)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.