emily: eli lilly chair and ceo dave ricks.th the latest on the global race to a vaccine and treatment, our bloomberg opinion columnist who covers health, biotech and pharma. what is your take on the eli lilly therapy and how it compares to things like the regeneron cocktail we heard so much about when president trump took it? >> absolutely. this is a really important category of medicine and for precisely the reasons that david ricks mentioned. even when you have a vaccination, people are still going to fall ill and there is a suggestion that both this medicine and regeneron's can produce spiral load and -- can reduce spiral load. or both medicines, the data we have is fairly limited in terms of, can it provide concrete proof of how well it can work and in what kind of people it works best in. there is enough evidence that it seems like something that is worth rolling out. the difficulty is that supply simply is not going to come close to matching demand. 300,000 doses just heard the u.s. government. subbing like 100,000 plus

we are going to hear from the eli lilly chair and ceo next. ♪ emily: a covid-19 antibody therapy by eli granted emergency use authorization in the united states. this amid developments out of pfizer with a vaccine that may be 90% effective. bloomberg spoke with eli lilly chair and ceo david ricks about why different treatments may be necessary even when a vaccine is released. dave: we are studying what we call passive immunization in a setting where you are trying to prevent spread. in our case, we are looking at spread within nursing home facilities. it is similar to vaccination in a way. when you get a vaccine, we introduce a killed or modified version of a virus. your body mounts its own antibody response. here what we are doing is we are giving you the response of someone else prior to getting sick. it is not approved by the fda. but that is a very interesting approach. if we look at other viruses like ebola, this was the setting where these antibodies made the biggest difference. in the u.s. and around the world, nursing home patients are at the highest risk. this would be an impor

my administration finalized an agreement with eli lilly to purchase the first doses of their antibody therapy, which shows amazing results. this treatment will be available completely free of cost to patients. 5,000 units have already been shipped, and many more are going out the door as we speak. we also reached an agreement with astrazeneca for the largescale manufacturing of their antibody treatment, which is excellent. we expect to issue emergency use authorizations for a number of additional treatments in the near future. tremendous promise. but remember the 85% number. that's an incredible, incredible number. but we have some tremendously promising drugs on line and ready to come out. we have ensured that our frontline workers have all the tools they need. my administration has invoked the defense production act and related authorities over 100 times, and have made a historic investment into our industrial base. all states that requested ppe from the federal government have received the ppe almost immediately upon request. every american who needed a ventilator has had access to

we haveresident said, enough partnerships with eli lilly, regeneron and astrazeneca. among the eli lilly's antibody was granted emergency use ientsrization to treat pate that are infected and at risk of hospitalization, the regeneron fileddies have been also for emergency use authorization which is under review and potentially reaching approval within the next few weeks. finally, astrazeneca in the last few days has received the green light to start two large phase three trials with their monoclonal antibodies supported by operation warp speed to prevent the acquisition of covid-19 disease in very frail subjects or in very high risk subjects, as a protective alternative to vaccines. two vaccines and two therapeutics may be granted in emergency use operation before the end of this year. i think it is a remarkable achievement within a period of six to seven months. it is important to note that this progress has been achieved without any political interference. i said it many times. and at every step has been and is being judged by independent expert bodies. whether it i

this is great news for eli lilly.ard great news as you know very well, a company you're on the board of around pfizer yesterday. i would, though, want to talk to you about going back to the issue of time lines because you're watching the market move on this news they're looking 12 months out about what the world looks like and i think we would love to get your perspective on what you think that world really does look like. what kinds of levels of usage of these vaccines and other therapeutic drugs you're going to need to get to quote unquote herd immunity. i would just add on the pfizer news, is looks to me like the amount that they're going to be able to produce next year would cover either 10% of the globe or 30% of developed countries and add on top of that hopefully some of the other vaccines, can you snuff this thing out >> i think you can certainly control it i think this is part of the technological counter attack against this virus that we always envishioned. we're going to have a broad tool box, not just safe

president said, we have partnerships with eli lilly, regeneron, and astrazeneca. was granted an emergency use authorization to treat patients that are infected and at risk of hospitalization. antibodies have also been filed for emergency use authorization, which is currently under review and potentially reaching approval within the next few weeks. received a green light to start large phase three trials supported by operation the speed to prevent acquisition of covid-19 in very frail subjects or in very high risk subjects. potentially two vaccines and therapeutics might be granted emergency use authorization before the end of this year. i think it is a remarkable achievement. it is important to note that this progress has been achieved without any political interference. i said it many times. beent every step has judged by independent expert bodies, whether it is when the fda grants the green light for clinical trials, or when the monitoring boards review the , andy on an ongoing basis sometimes put them on hold, as i'm sure you have witnessed. and the same data s

. >> the fda green lights eli lilly's antibody therapy for emergency covid use for treatment there, of course, as america's cases topped 10

the fda is giving emergency approval to eli lilly's antibody treatment. that big news on the heels of the pfizer vaccine trial released yesterday. blake burman on the north lawn. a lot of people are talking about this around the white house, blake. what can you tell us in terms of distribution of this treatment? reporter: this is the eli lilly therapeutic bamlanivimab. as it is called. this is the numbers behind it for officials with "operation warp speed." the u.s. government will buy 300 doses for a price tag of $375 million. the distribution will start in the coming days. the therapeutic is designed to -- with goal of high-risk patients out of hospitals. it is through iv in an outpatient setting however it is not recommended for hospitalized patients nor is it recommended for patients that require oxygen. you pair that with the announcement from pfizer yesterday and clearly it is back-to-back days with positive headlines on the medical front but on the economic front, the prospect for a stimulus package remains grim. listen here to senate majority lead

. >> the eli lilly treatment and it's been used under the emergency use authorization and clinical studies have shown it reduces the amount of the viral load inside the patient's body after ten days of taking it. the hope it would keep the virus from progressing and getting bad enough to where somebody would need to be hospitalized. connell: can you talk for a moment as we wait for the president of the importance of operation warp speed there has been back and forth of the how the government will be involved in all of this especially when the pfizer vaccine numbers came out, we did not have anything to do with operation warp speed but in terms of getting the vaccine out and getting the treatment out, that is where the government will be quite heavily involved. >> that is right, we should say they do have contracts with the federal government. through operation warp speed through the distribution of the vaccine. they just did not take money on the front and like it was divvied up to the companies that began working on this like johnson & johnson and moderna and the others. pfizer did not bu

pfizer's vaccine news, eli lilly's treatment news, and what some investors are saying about where tout money now #. >>> there is new hope for one sector beaten the most, travel, lodging, leisure and ceos making comments to cnbc in the wake of that news trip adviser says that as soon as the vaccine was widely available, a welcome step in the right direction. carnival cruise, this is a very positive development for the world and our company as well as the cruise industry. but bookings holdings says it is not all clear just yet and joining us now is raymond james managing director bill crow appreciate you coming on kind of on late notice your sector, some of your stocks up 12%, 13%, 15% yesterday do you think those kinds of gains, not sustainable on a daily basis, but does that refleblgts tr reflect the change in their outlook? >> yeah, brian, good morning i think there is no doubt that what we were waiting on was this announcement of a vaccine. it is a game changer it is take time to phase in of course we have two or three really tough quarters coming up with little fundamental change.

at eli lilly headquarters in indianapolis. it its 11:00 a.m.♪

as the president signed, we have announced partnerships with eli lilly, regeneron, and eli lilly. emergency use authorization to treat the patients that are at risk. the regeneron -- has been also filed for emergency use authorization, which is currently under review. potentially reaching approval within the next few weeks. and finally, astrazeneca and the last few days has received a green light to start phase three trials with their antibodies supported by operation warp speed to prevent the acquisition of covid-19 disease. subjects. or very high risk subjects. an alternative to a vaccine. , so, potentially to vaccines or therapeutics, before the end, i think it is a remarkable achievement. it is important to note that this has been achieved without any political interference, i have said many times, and has been judged by independent expert bodies. when the fda grants the green light to go into clinical trials, or whether -- review the safety on an ongoing basis, and sometimes with them on hold, as i'm sure we have witnessed with the astrazeneca vaccine, for instance. and, the

take a look at eli lilly this morning.lly here, eli lilly shares up about 4%. dr. anthony fauci says pfizer's coronavirus vaccine could be administered to people across the nation by the end of the year. they announced that initial results of the covid-19 vaccine trial showed it was 90% effective. fauci adding moderna is developing a vaccine similar to the one developed by pfizer and their results could be coming soon as well. coronavirus remains on the rise in the united states, passing over 10 million total confirmed cases, the same day as joe biden announced a task force against the virus. biden says he hopes to work with leaders in both parties to stop the spread of covid-19. time for the word on wall street, top investors watching your money this week. joining me right now is publisher dennis gartman, ryan payne and federated senior equity strategist, linda disell. thank you for joining us. dennis, first up, taking a look at futures this morning. we're looking at a pretty good gain on the dow after yesterday's major m

at eli lilly headquarters in indianapolis. it its 11:00 a.m. on wall street and "squawk alley" is live. ♪ >>> good tuesday morning, welcome to "squawk alley." i'm carl quintanilla with jon fortt and julia boorstin with us dow because up 275 this morning. we lost some of that the covid-19 vaccine rotation is continuing with tech down another 2% today and the s&p 500 down 26 points that's where we'll begin this morning. the nasdaq falls investors rotating out of tech to some degree the managing director is going to help us start off the hour. good morning, mark good to see you. the. >> hey, carl, good to see you. >> we know -- i mean, the argument has been made that world changed a little bit yesterday for the better but is the tech reaction -- is there bath water being thrown out too? >> well, yeah. the world did change i'd argue a lot yesterday. and not surprising that we're seeing a rotation in some of the tech names i think for the next little while here, you know, expect the expected we're going to think -- continue to see some rotation away

we purchased the first doses of eli lilly's anted —— antibody...will be free of cost. 5000 units of art he been shipped and many more going out the doors as we speak. we've also reached an agreement with astrazeneca for the la rge—scale manufacturing of their antibody treatment, which is excellent, we expect to issue emergency use authorizations for a number of additional treatments in the near future stopped amended as promised, the remember the 85% number, that is an incredible number —— in the near future. we have tremendously promising drugs online and ready to come out. we have ensure that our front—line workers have all the tools they need. my administration has invokes the defence production act and related authorities over 100 times and have made an historic investment into our industrial base. all states the requested ppe from the federal government have received the federal government have received the ppe almost immediately upon request. every american who needed a ventilator has had access to a ventilator. think of that. every cop locat

the antibody treatment is produced by eli lilly will be critical in reducing rehospitalizations. a cement for those to be a higher risk of developing severe symptoms like the elderly ose with underlying illnesses. those who are diagnosed with covid-19 this drug may be effective in preventing the onset of severe symptoms. the antibody treatment has received emergency use authorization from the food and drug administration last week. i am hopeful it will help stop or at least slow dramatically the alarming rise of hospitalizations that we have seen across parts of my stage. so far, about 80000 doses are ready for distribution. we should have bet up to a million doses a day by the end of the year. while the quantity is limited at this point, every single dose could mean a life saved. this alone is cause for hope. butee the ghost good news does not stop there. last week pfizer announced covid-19 vaccine is more than 90% effective in clinical trials. thus this morning, mowed moderna had its vaccine candidate 95% effective. just an incredible result. this is exactly what we've invested

today pfizer applying for fda emergency use authorization of its covid vaccine while eli lilly's arthritis drug was approved by the fda with the emergency use of remdesivir to treat covid-19 meg tirrell joins us now with more on that what happens next with the vaccine? >> reporter: it's going to start making its way through the regulatory process, and in many ways it's similar to the process we see for a lot of drugs and vaccines the difference here is everything is being done at warp speed, and oftentimes on top of one another. what happens is pfizer is going to file today along with biontech for the fda's emergency use authorization and the fda will hold an outside meeting of advisers, an outside group which will then parse through all the data and make a recommendation to the fda after that the fda will make its decision probably simultaneously a cdc advisory group will be weighing in on how to prioritize this vaccine because there will be limited supply at beginning we talked with operation warp speed chief advisor about what cams after the fda green light, and here's what he said. >>

eli lilly's antibody treatment receiving fda emergency use authorization just this week, working to speed up the recovery in some of the most vulnerable patients. abc's alex perez tonight with a first look, as we hear from a patient being given this treatment. >> reporter: tonight, a first look at the new treatment created specifically to attack coronavirus. researchers taking the most powerful antibody from one of the first survivors and using it to create a synthetically-made version to fight the virus. >> when the fever came on, i knew things were really beginning to look bad. >> reporter: david schulz is one of the first covid patients in the country to receive eli lilly's new fda-authorized antibody treatment bamlanivimab at clark memorial hospital in jeffersonville, indiana. schulz, a doctor on the front lines treating covid patients, tested positive a couple of days ago. you just got your infusion. describe how that was. what happened? >> they hooked me up to an iv and they gave me the one hour infusion of the monoclonal antibody. there were no side effects to it. and i'm assured t

the eli lilly one is already authorized. that is worth celebrating. for this is that vaccines can take decades sometimes to make and even after the application goes in for an emergency use authorization, that can take months. december of 2019, ebola vaccine was authorized, you may remember, that application went in six months earlier and that was considered record sort of turnaround at the time. point is things have moved very quickly here. that is worth -- it is quite notable the pace of medical innovation. >> dr. slaoui about needing volunteers. what was he requesting exactly? >> he is pointing out that there is -- you know we talked about the moderna and pfizer trials but there are four other vaccine trials that are ongoing. two of them in the process of now recruiting patients for the phase three trials so i think he said they have a few thousand. as you know, typically you're talking about tens of thousands of patients in these trials. the pfizer one i think had 43,000 patients. so they need people to volunteer for these trials and they need peop

the s&p 500, -10 points. , the eli, david ricks lilly ceo, joining us. this is bloomberg. ♪ the first word news, i'm ritika gupta. president trump's attorney general william barr will let the justice department investigate potential voting irregularities in the presidential election. barr has acknowledged there is no conclusive evidence, and he warned against what he called far-fetched claims. the head of the department's election claims branch resigned. the u.s. is set to hit record hospitalizations for the coronavirus this week. midwestare soaring in states such as illinois and michigan. in texas, el paso has more people hospitalized with the virus than 29 states. in the u.k., the house of to removected a plan the most controversial parts of the internal market bill. prime minister boris johnson immediately vowed to push ahead with the legislation that gives ministers the power to rewrite parts of the brexit deal johnson signed with the eu. european union has filed antitrust charges against amazon. that accelerates an investigation on the massive onlin

you also have a news on eli lilly.auren, you are still on lauren: i have a lot to say about eli lilly. screwup. they have an anti- body therapy that's been greenlighted by the fda, a treatment for those that have mild and earlier stages of covid-19. you take it out of the hospital and it's intended to keep you out of the hospital. it's free for you but the insurer is on the hook for about $1200. lily is a shipping to start 100,000 to their distribution partners and then the federal government will allocate that to the states and then the state say this hospital gets it, this health facility etc. yes, you can get it outside of the hospital but it still needs to be administered by iv so infusion clinic or something like that. stuart: i did hear you and that was a great report. i hope you can hear me saying that. is that thing in your ear, the producers and director talk to you while you are on the air joining me now market watcher mike murphy who is working just fine and dandy. he looks like he's in the dark shadows but

i have to go right to the eli lilly news.but right now, people are still getting the virus and full distribution of a vaccine will take a long time so any kind of effective treatment seems to me right up there with the latest news on the vaccine itself. what do you know about this and how important will it be? right.e: you are exactly it's really critically important that this antibody therapy becomes available for people in the hospital fighting coronavirus infections, the group of people who will be benefiting from this. it is a treatment that basically is a man-made version of the antibodies that our body naturally produces when it fights an infection and it is designed to specifically fight this coronavirus. showing some good data it is effective, it can reduce hospitalizations, help people survive the virus. it is a medicine similar to the one that regeneron is working on, the one that president trump received, so great news. the people who are most in need of having some kind of a treatment might have access to this eli

that after to appear to reduce hospitalizations and emergency room visits the drug developed by eli lilly was authorized for use by adults and teenagers at risk of the severe form of covert 19 was approved based on mid stage clinical trials although regulators did more that administering the drug too late could produce worse outcomes u.s. president donald trump has repeatedly touted the therapy. over to turkey which has appointed deputy prime minister goofy elvine as its new treasury and finance minister and he's replacing bad a son in law of president erda one of the country's central bank chief is also out of a job many economists read the 2 departures as a signal that turkey was admitting past policy errors and preparing to raise interest rates the turkish lira surged to its biggest gain in 2 years following the announcement. and for more on this i'm joined by correspondent yulia han in istanbul yulia good to see you the central bank continued cutting interest rates despite the pleas of economists over recent years is anger now admitting its mistakes essentially with these replacements

treatment after it appeared to reduce hospitalizations and emergency room visits the drug developed by eli lilly was authorized for use by adults and teenagers at risk of severe forms of the disease. siemens energy has announced its 1st set of figures since its frankfurt stock market debut in september the company which is aiming to move siemens away from heavy industrial power solutions has swung to a loss of 1900000000 euros but he says it will achieve its 2020 goals. huawei is poised to sell its budget smartphone are on or in a deal with $15000000000.00 according to reuters that is digital china is leading a consortium of buyers the sale comes as the u.s. continues to restrict its companies from supplying electronic parts to the chinese company. now the european commission has filed antitrust charges against amazon accusing the commerce giant of attempting to gain an unfair advantage over merchants on its own platform the commission says amazon used nonpublic data to leverage its dominance in its 2 biggest markets in the u. france and germany the european union started looking into amazon in

the fda has approved eli lilly's antibody therapy for mild to moderate cases on an emergency basis. whowith lilly's says develop into a vaccine won't change anything for his company's treatment. >> we will still need medicines to help those who will get sick, hopefully at a much lower rate as we approach something like herd immunity, but you will still have endemic disease, and we will need therapies. there's many examples where this is true, including common respiratory viruses. ritika: that is your business flash. guy: thank you very much, indeed. we are getting some details from alex azar, the health and human services secretary, on how this will be distributed, the lilly covid therapy. saying 80,000 doses are ready for distribution, those are relatively small numbers. alix: they are small numbers, and i should point out also that this is for antibody therapy for use against mild-to-moderate covid-19. it is an arsenal for the doctors, for sure, but for severe cases, not a ton of dosages, and we talked about this yesterday when it came to pfizer, it is only about 10% of the popula

antibody drugs now, the drugs cleared for market, at least this one from eli lilly for patients rightiagnosis to try to prevent them from getting so sick they go to the hospital >> meg thanks for that mike, i guess the question on the market reaction is whether you can have further sort of treatments are coming-type positive reaction in the marketplace on top of vaccine positivetivity that we got zbleed i don't know if it is really that much of a moment in time catalyst from here out. it is more of a general sense the market is becoming comfortable with the idea that science is catching up that the kurgt case surges won't necessarily be very long term curtail men of business activities consumers can become more comfortable down the road and essentially assimilate with this environment even before everybody is vaccinated. i think it is much more of a premise to what's going on in the market people are already assuming things are going to get better on the medical front it is not as much suspense waiting for these' announcements. >> hmm let's move on the amazon that company getting hit

we found out about this -- that eli lilly emergency use operation sent to the fda a month ago.r a month for them to approve this and they did it one business day after the media declared joe biden to be the victor. >> tucker: a lot of federal dollars, a lot of tax dollars moving towards these pharma companies. vaccine are good business, so it's not a bad thing to make a big time vaccine. i think we have a right to know more about this i hope you will stay on it. vince, thank you for your reporting. >> thanks so much, tucker. >> tucker: so much more ahead tonight, but first the latest print advertisement just out from the joe biden team, you'll want to see this. ♪ >> tucker: it's veterans day. we want to close tonight by honoring a veteran in our fox family. bill gargano began his service for this country during the second world war, immediately after he graduated high school in 1942. he joined the army air force, three years in a b-17 bomber. try that. he was awarded the distinguished flying prospect among other metals. he went on to graduate from quinnipiac college. bill garga

biointechnical filing for emergency use with ely lilly filing for its drug. >> hi, everybody the dow and s&p 500 are falling. the nasdaq is imagining to stay in the green on the day and for the week let's go to bob pisani for more. bob? >> we are turning around and that is a very good thing given all the uncertainty. a little bit of a down day for energy, banks and industrials. there's your cyclical group. they're generally up on the week they're up today but down big on the week th this is that churning new high list, pretty much the same list. not expanding much the same names are on the new high list, target, l brands, colgate freeport stability again, no the bad given all of the uncertainty boeing's down today, it's been up on the week that's what churn is where are we for the markets the important thing is right now we're really focused on the spring reopening rare than the covid winter narrative that's because these selloffs ant getting any traction at all. there's not a lot of volume, not a lot of panic, just churning. sometimes 3,500 to 3,600, 32 360 how about that vix there

we found out about this -- that eli lilly emergency use authorization was sent to the fda a month agok over a month for them to approve this and they did it one business day after the media declared joe biden to be the victor. >> tucker: a lot of federal dollars, a lot of tax dollars moving to these pharma companies. vaccines are good business because of course they have [indiscernible] from lawsuits so it's not a bad thing to make a big time vaccine. i hope you will stay on it, vince, thank you for youre, reporting. >> thanks so much. >> tucker: so much more ahead tonight but first, the latest print advertisement just out from the joe biden team, you'll want to see it. ♪ >> tucker: on veterans day, we want to honor a veteran in our fox family. bill delgado began service for this country in the second world war a year after he graduated high school in 1942. joined the army corps, spent three years as a t turret gunne. he went on to graduate from quinnipiac college. passed away on october 30th at the age of 96. his legacy lives on through his family including trey gargano, a good man.

. >>> today the fda authorized emergency use of an experimental antibody treatment from eli lilly to fight mild to moderate cases of the coronavirus. it is similar to the drug from regeneron. the president trump received last month. eli lilly says that in clinical trials come the treatment reduced virus levels, symptoms, and hospitalizations, in patients with mild to moderate cases with no serious side effects. >>> a major announcement today on a coronavirus vaccine, pharmaceutical company pfizer says that early data shows that there vaccine is more than 90% effective. >> reporter: hope is on the horizon. they announced that in candidate is 97% effective -- 90% effective. >> given the fact the pandemic has upended all of our lives all over the world, it is a great day not just for science but for humanity as well. >> reporter: defensive medicine and infectious disease specialist at ucsf says the vaccine is based on early in the complete data but is promising. the flu vaccine is only about 50 to 60% effective. >> anytime you have a 90% point for vaccines, it is like goldstar, gold-med

granted emergency approval to a synthetic antibody treatment developed by eli lilly called-- and thisue-- "bamlanivimab." "bamlanivimab." that is a toffee. the hard part is the "vimab." "bamlanivimab." why would you name it that? it sounds like a researcher just dropped a slice of pizza on her laptop. sounds like a monster from "lovecraft country." it sounds like a charming ikea credenza that goes beautifully with your "farlov." ( laughter ) the drug looks promising. in clinical trials, it has been shown to reduce viral loads and rates of symptoms and hospitalization. of course, that's not taking into account the increase in hospitalizations from people who choke on their tongues trying to say "bamlanivimab." but there is a hopeful development in our fight against the global pandemic, so eli lilly is excited to get the word out about their new drug. >> if you or a loved one was recently diagnosed with covid-19. josh lyman is proud to announce the new treatment bamlanivimab. if you are suffering from coronavirus symptoms and are over 12, then bamlanivimab might be for you. side effects

believe the company will have significant up side. >> your market perform on pfizer, bristol myers and eli lillywhy aren't you more bullish on them in light of this announcement today >> it's great for all of us that they delivered the result in the fight against covid-19, those are really impressive results and i congratulate them. financially speaking, i don't see them as being a big driver we got a balance and a half for lily this year and the others we're not sure they'll do particularly well. >> ronnie, thank you very. that does it for "the exchange" today. the ceo of biontech. i'll see you right after this quick break with john ford hi, my name is sam davis and i'm going to tell you about exciting plans available to anyone with medicare. many plans provide broad coverage and still may save you money on monthly premiums and prescription drugs. with original medicare you're covered for hospital stays and doctor office visits, but you have to meet a deductible for each and then, you're still responsible for 20 percent of the cost. next, let's look at a medicare supplement plan. as you can see

difficult, because there is real issues around the manufacture of those, but you have the regeneron, eli lillyne in the u.s., the astrazeneca one, and there will be more coming through. those particularly for early-stage patients. that is important. you have a rapid test for mass testing much better. and there will be the issue of data, which i think will be dramatically important, assuming we are slowing down a bit on that, we need the same we could possibly have to record all of this information, but if we focus on those four things, you know, by this time in the spring, i think we will be in a much better situation. francine: is there a danger that we are focusing too much on a vaccine to quickly, and that ew wayly, you know, our n of life will have to stay a little bit longer until we are 100% certain that this vaccine will work, and that it will be distributed to enough people? mr. blair: to my view, there are two criteria -- one a safety, the other is efficacy. if you pass the safety test, you will be 100% sure on that. if you pass the safety test. on efficacy, don't make best the enemy

the drug created by pharmaceutical company, eli lilly, can now be used to treat high-risk patients with mild or moderate cases. they plan to make up to 1 million doses available by late december. struck a huge rally on wall street after a breakthrough on a possible covid vaccine. the doll soared more than 1600 points in the first few minutes of trading and finished up 835 points. that is the best performance since june. the rally reflected optimism from pfizer today, the company says early data shows its potential vaccine is 90% effective in preventing covid- 19 and pfizer says that it will submit an emergency use authorization with the fda once its trial is completed in two weeks. >> we have been working basically around the globe for 18 months. this is one of the biggest, if not the biggest medical advance in the last hundred years. pfizer says it has 50 million doses ready to go about half of those will go to americans and the drug company says it will be able to manufacture at least 1.3 billion doses next year. all this comes at a time when infections are surging at an alarming rate

. >> being a does eli lilly have similar problems with kind of expanding production as quickly becausehave a similar drurg right? >> that's absolutely right, and they say they have 100,000 doses but theirs is a single anti-body and regeneron is two antibodies and they have to make double the supply and eli lilly has partnered with amgen so you're seeing the cross-industry partnerships to get this done and even so we still don't have enough >> that's wild meg, we appreciate it. wish it was better news, but hopefully they can find some way to ramp this up more quickly meg tirrell at regeneron for us today. >>> let's look at what's happening overseas are all the hockdown lights so-called in europe a preview of what could be coming to the u.s. in the months ahead? germ anything, france and at uk are entering into various degrees of a lockdown as cases continue to rise there italy continues to tighten restrictions as cases rise as well and nbc's bill neely is live in rome with us for the very late. hi, bill >> reporter: hi, kelly yes, the second wave sweeping across europe and right now lee

. >>> eli lilly's anti-body drug received emergency fda approval tonight. it suggests it keeps people infected out of the hospital. it's meant for high-risk patients who are getting worse. >>> president-elect joe biden and vice president-elect kamala harris announced a covid-19 advisory board. >> this board will advise on plans and build on a bedrock of science and keep compassion, empathy and care for every morn at its core. >> three of the doctors are doctors at ucsf. dr. kessler under george h.w. bush. dr. eric goosby and dr. rodriguez is an emergency medicine doctor. >> the three people that have within chosen are, bring re different lenses to the pandemic. they are all remarkable leaders. >> the president-elect has made defeating the pandemic his number one priority once he becomes president. >>> with coronavirus cases surging, more than 60% daily over the past couple weeks, the united states' count topped the 10 million mark. california reported more than 7200 cases today. the 14-day rate is rising now at 3.7%. governor newsom said there's a reason fo

antibody drug, the head of eli lilly was on cnbc, our sister network this morning, calling it, quotethe first drug ever designed for beating back covid-19. how hopeful should we be about that? do you see that as a light at the end of the tunnel for treatment? >> very hopeful. the antibody is similar to what the president received. it does need to be infused into the veins. it's not something you can take in a pill form. that means that just, again, i keep saying logistics, but that's the theme of the hour. logistics are complicated, but that can be give ton people not in the hospital or not sick enough to go to the hospital. we are going to reserve that for people who are older and have other chronic conditions or other reasons to be concerned that they could go to the hont, but i think of this and a vaccine and some of the other treatments coming online that could be incredibly useful altogether. so i am very hopeful, but we need to get there and we're starting to see breakthroughs. >> which is i think the sentence that so many have been waiting months and months to hear. erin, we'r

earlier this month, eli lilly's antibody drug also receiving emergency use authorization. >> i'm on day two outside the infusion. i'm having some fatigue, but that's improved. >> reporter: we've been following dr. david schultz in indiana. one of the first in the country to receive the drug since he began his treatment nearly two weeks ago. he appears to have made a full recovery. >> we're very grateful for all those doing research, those who have worked in the vaccine development and those working in our hospitals and clinics around the country. >> reporter: it will still take months, of course, before enough doses are ready for all americans. scientists fear convincing people to take it will be tough, a recent poll finding more than 40% of americans are hesitant to take an fda approved vaccine. much of it having to do with the you political context under which that vaccine was created. stephanie ramos, abc news, new york. >> stephanie, thank you opinion. >>> as president trump continues to block a key transition to power, key states are moving forward to officially joe biden's victory

that's an eli lilly drug this is the same category of course that was used to treat president trump. it's not the same drug, that was regeneron's drug, this is eli lilly's, but this is moving so fast. >> so hope appears to be on the horizon, but distribution is a key. only 25 million can possibly get vaccinated this year obviously not enough so who goes first? dr. scott gottlieb now, former fda commissioner, pfizer board member, cnbc contributor dr. gottlieb, who's first and how does it happen >> well, first the company needs to file for an authorization with the fda which hopefully that will happen at some point maybe later this month, if the data continues to come in in a positive fashion the fda has to authorize a vaccine. it would take the fda two to four weeks to turn around a request for emergency use authorization. there's going to be a determination made by a group that advises the centers for disease control about who should get the vaccine first. it's likely to be older individuals for whom the risk benefit makes sense, where the benefit from the vaccine can outweigh any th

. >> reporter: drugmaker eli lilly also just received emergency authorization for a covid therapy for those already infected it's a one-time iv treatment that the company says can reduce hospitalizations by 70% for high-risk patients but for chris bjorkman help will arrive too late her husband john is never coming home. >> the grandkids miss him. i miss him he was just a good person >> reporter: tonight a heartbreaking reminder, each number is a name. miguel almaguer, nbc news >>> also tonight, the u.s. supreme court appears inclined to spare the affordable care act, obamacare, after the court heard arguments today on a challenge from red states and supported by president trump here's pete williams >> reporter: when obamacare became law ten years ago, it required all americans to get health insurance, the individual mandate, or pay a tax penalty. the supreme court ruled that was a legitimate use of congress's taxing power. then in 2017 the republican-led congress set the tax penalty at zero. 18 red states say without a tax the mandate is unconstitutional and the entire law must fall i

. >>> eli lilly's anti-body drug received emergency fda approval tonight.ests it keeps people infected out of the hospital. it's meant for high-risk patients who are getting worse. >>> president-elect joe biden and vice president-elect kamala harris announced a covid-19 advisory board. >> this board will advise on plans and build on a bedrock of science and keep compassion, empathy and care for every morn at its core. >> three of the doctors are doctors at ucsf. dr. kessler under george h.w. bush. dr. eric goosby and dr. rodriguez is an emergency medicine doctor. >> the three people that have within chosen are, bring re different lenses to the pandemic. they are all remarkable leaders. >> the president-elect has made defeating the pandemic his number one priority once he becomes president. >>> with coronavirus cases surging, more than 60% daily over the past couple weeks, the united states' count topped the 10 million mark. california reported more than 7200 cases today. the 14-day rate is rising now at 3.7%. governor newsom said there's a reason for the sp

. >>> just in this evening, the fda giving emergency use authorization to eli lilly's antibody treatmentr mild to moderately ill covid patients it is similar to the treatment president trump received when he was battling the coronavirus. >>> joe biden declaring the election over as he took the first steps toward his transition to the white house, focusin on the pandemic an issuing an urgent plea to all americans about mask wearing kristen welker has more for us tonight. >> reporter: tonight, joe biden taking his first steps as president-elect, to show how he'll tackle the pandemic, despite positive news today on vaccines, striking a more somber tone. >> it's clear that this vaccine even if approved will not be widely available for many months yet to come we're still facing a very dark winter. >> reporter: biden and vice president-elect kamala harris meeting with their newly named covid advisory board saying they'll work on getting rapid testin more widely available but a big focus will be on masks, askin governors to enforce a mask mandate biden with this urgent plea to all americans. >>

. >> reporter: drugmaker eli lilly just received emergency authorization for covid therapy for those already infected it's a one-time iv treatment that the company says can reduce hospitalizations by 70% for high-risk patients. >> for chris, help will arrive too late her husband john is never coming home. >> the grandkids miss him. i miss him he was just a good person. >> reporter: a heartbreaking reminder each number is a name miguel almaguer, nbc news. >>> the state of obamacare also known as the affordable care act is still in limbo at the supreme court, but after hearing oral arguments on tuesday, a majority of the justices may have already decided. here's nbc's jay gray. >> reporter: with a handful of protesters gathering near the steps, the u.s. supreme court hears arguments on the affordable care act. at the center of the latest challenge, the individual mandate ruled a tax by the high court warned americans to buy insurance or pay a penalty until they ruled out that tax since 2017 now that it raises know revenue, 18 attorneys general along with the trump administration argues

. >> reporter: on the treatment front, the fda has given emergency approval to eli lilly for the first antibody treatment for covid patients with mild to moderate symptoms. >> it works by attaching to the virus and blocking its entry into cells. and also possibly by helping the person's immune system clear the virus. the data we have suggests that early treatment may help people avoid the disease progression and avoid hospitalization. >> reporter: safety testing for the drug is ongoing. danya bacchus, cbs news, los angeles. >>> comments by justices of the supreme court suggest obamacare may survive its latest legal challenge. during arguments yesterday, chief justice john roberts and justice brett kavanaugh suggested it was not high court's role to invalidate the healthcare law, even if one or more provisions are deemed unconstitutional. republican challengers want obamacare to be killed, since lower courts previously ruled individual mandates are unconstitutional. >>> a former louisville police officer involved in the raid that killed breonna taylor is facing a sexual assault lawsuit.

. >>> and new for you this morning the fda is granting emergency use of eli lilly. the oral medication from the drug maker will be used in conjunction with remdesivir to treat patients. the approval was based on a trial that showed a one-day reduction in recovery time for those treated with the combination. >>> happening today a new push in the south bay to mask up and get that flu shot ahead of the thanksgiving holiday. santa clara county fair grounds is one of several sites offering free covid testing and free flu shots. supervisors will join mayors from across the south bay for a virtual call to action. experts say the earlier you get the flu shot the better protected you'll be. >>> well, as the countdown to thanksgiving continues some grocery stores are changing the way they do business to limit panic buying. shoppers are crowding stores to prepare for the turkey day but starting an after hours reservation system for the holiday season. on saturday 35 people will be allowed to shop after closing it. reservations are filling up. >> we've seen a steady increase in