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São Paulo Gov. Joao Doria holds a box of the CoronaVac vaccine during a press conference. Photo: Alexandre Schneider via Getty Images

A coronavirus vaccine produced by Chinese company Sinovac is 78% effective, Brazil officials announced Thursday.

Why it matters: Regulators in other countries are closely following the Phase 3 trials in Brazil. If the vaccine is approved for use, it could help fill a gap in access to coronavirus vaccines for many low- and middle-income countries.

Details: Brazil’s Butantan Institute, a medical research institute in São Paulo, conducted the study of the vaccine, named CoronaVac, with 12,476 volunteers.

  • The vaccine prevented all participants from developing severe cases of COVID-19, officials said.
  • Brazil has the third-highest number of cases in the world after the U.S. and India, data from Johns Hopkins University shows.
  • The Butantan Institute said it will request authorization for emergency use of the vaccine in Brazil, per the Wall Street Journal.
  • Other countries, including Turkey and Indonesia, are also testing the CoronaVac vaccine.

The big picture: Sinovac has already sold over 300 million doses, primarily to low- and middle-income countries, per New York Times.

  • Sinovac says it will be able to produce 600 million doses this year.

Health regulators in China said late last month that they have approved the country's first homegrown COVID-19 vaccine, developed by the state-owned pharmaceutical company Sinopharm, for general use.

  • Sinopharm said that preliminary data have shown the vaccine to be 79.3% effective, though experts have said important data is missing.

Go deeper...The challenge of 2021: Vaccinating the world

Go deeper

14 hours ago - Health

One year of the coronavirus

One year ago today, a novel coronavirus was barely beginning to catch the public's eye. There were just over 2,000 confirmed cases worldwide, mostly in China, and five cases in the U.S.

The big picture: The sea of red says it all. Today, there have been over 100 million cases worldwide, led by the U.S. with 25 million.

14 hours ago - Health

Bill and Melinda Gates warn of "immunity inequality"

Bill and Melinda Gates at a Goalkeepers event in 2018. Photo: Ludovic Marin/AFP via Getty Images

Bill and Melinda Gates warned in their annual letter Wednesday that the lasting legacy of the coronavirus pandemic could be "immunity inequality" — a wide and deadly gap between wealthy people, with easy access to coronavirus vaccines, and everyone else.

Why it matters: As long as there are large swaths of the world that can't get vaccinated, they warned, it will be impossible to get the pandemic under control.

Erica Pandey, author of @Work
14 hours ago - Economy & Business

Telework's tax mess

Illustration: Annelise Capossela/Axios

As teleworkers flit from city to city, they're creating a huge tax mess.

Why it matters: Our tax laws aren't built for telecommuting, and this new way of working could have dire implications for city and state budgets.

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