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Anxiety over the Omicron variant is rippling through the financial markets again this morning, after the chief executive of drugmaker Moderna warned that existing Covid-19 vaccines are unlikely to be as effective against the Omicron variant as they have been against Delta.
Stéphane Bancel’s comments, to the Financial Times, have hit Asia-Pacific stocks, and the oil price, just a day after markets had stabilised after Friday’s tumble.
The FT says:
The chief executive of Moderna has predicted that existing vaccines will be much less effective at tackling Omicron than earlier strains of Covid-19 and warned it would take months before pharmaceutical companies can manufacture new variant-specific jabs at scale.
Stéphane Bancel said the high number of Omicron mutations on…