Rolling updates on the latest developments and headlines from around the world on the COVID-19 pandemic.
By Gina Lee
(9:57 PM ET) New York focuses on reopening in June, Mexico reports record number of deaths
New York Governor Andrew Cuomo said that the state will need federal assistance as it prepares to reopen New York City, the state’s economic engine and the only region still under lockdown. Cuomo will hold discussions with President Donald Trump in Washington D.C. later in the day.
New York City Mayor Bill de Blasio said that the city hired 1,700 contact tracers.
Meanwhile, Mexico’s Health Ministry reported a record 501 deaths. The report came a day after Deputy Health Minister Hugo Lopez-Gatell said on Tuesday that the country’s death rate is stabilizing. President Andres Manuel Lopez Obrador also said that Mexico was close to overcoming the COVID-19 crisis during the previous week.
(9:52 PM ET) Novavax to price COVID-19 vaccine based on affordability, says CEO
U.S. biotechnology company Novavax (NASDAQ:NVAX) will price its potential COVID-19 vaccine based on affordability, its CEO Stanley Erck said.
“There’s got to be broad distribution. There’s got to be equitable access,” Erck said in an interview with CNBC’s “Squawk Alley.”
“There will certainly be tiered pricing depending upon affordability so that the vaccine can be used globally.”
Novavax shares rose as the company announced that it hoped to release its results for the ongoing phase 1 clinical trials in July. The company hopes to ready its first doses by the end of 2020 and produce over a billion does by 2021.
(9:50 PM ET) Congress to vote on another U.S. COVID-19 package
Congress will likely vote on another COVID-19 relief bill in the “next few weeks,” according to Senate Majority Leader Mitch McConnell.
Although the possibility of another direct payment to Americans was not discussed, the latest bill tabled by the Democrats included another check of up to $1,200 to individuals.
President Donald Trump has indicated he would back more direct payments.
(9:41 PM ET) Number of global cases tops 5.5 million
The number of global virus cases has topped 5.5 million, with data from Johns Hopkins University saying there are 5,588,299 cases as of May 27.