Goldman Sachs expects the FDA to approve a vaccine this year, according to senior economist Daan Struyven.

Right now, there are 26 vaccines in clinical trials. More than a dozen vaccines are in Phase 2 trials and six are in Phase 3. Phase 3 is the last step to possible approval. More than 60,000 people are being enrolled to test all those candidates.

Since European regulators tend to follow the lead of the FDA, a quick U.S. approval means people could be getting vaccinated as early as October.

This isn’t a done deal yet.

Even though governments have spent billions of dollars to develop vaccines at warp speed, they still must be safe and effective. It’s not unusual for problems to emerging in large trials that were missed in small ones.

It’s also possible that even if the FDA does approve one or more vaccines, they would be fully effective or offer long-run protection.

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The Big News . . .

European Earnings Hammered

While U.S. corporate earnings have been a mixed bag, earnings season in Europe has been downright ugly. Spirits maker Diageo (OTC: DGEAF) took a $1.7 billion write-down after net sales dropped 8.4% for the year ended June 30. BP (NYSE: BP) was forced to cut its dividend in half because of falling oil demand. Bayer (OTC: BAYN) posted a net loss of $11.3 billion in the second quarter because of plunging chemical demand.

Major League Baseball in Trouble

News broke yesterday that 13 people associated with the St. Louis Cardinals have tested positive for coronavirus. Seven are players and six are staff members. The latest outbreak comes after more than half the Miami Marlins team tested positive at the end of July. There’s growing pressure on Commissioner Rob Manfred to determine whether the season can continue under the circumstances.

Higher Costs Hit Food Processors

Tyson Foods (NYSE: TSN), one of the largest meat processors in the U.S., reported that it spent $340 million keeping its lines running in the quarter. That amount covered employee bonuses, personal protective equipment and other safety measures. That helped push net income down from $1.90 per share in the same period last year to $1.48.

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The Coronavirus Numbers

Here the numbers from Tuesday at 8:26 a.m. EST:

18,480,646 Infected worldwide
698,257 Global deaths
4,863,077 Infected in the U.S.
158,975 Deaths in the U.S.

What’s Next?

Right now, any vaccine is better than no vaccine.

Economic recovery is entirely dependent on a vaccine being available. Otherwise, businesses could still face shutdowns when outbreaks flare up.

The key is to prevent more bankruptcies and layoffs.

To do that, we have to stop this pandemic in its tracks.

New biotech IPOs could play a huge role in stopping the spread of the virus. And billionaire investors are already jumping in.

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Yours in Health & Wealth,

Ben Shepherd