Chinese provinces hit hard by Covid are seeing a strain on critical care, health officials say

Chinese provinces hit hard by Covid are seeing a strain on critical care, health officials say


People wait outside a fever clinic at Tongren Hospital in Shanghai on Dec. 23, 2022, amid a local outbreak of Covid-19 infections.

Hector Retamal | Afp | Getty Images

BEIJING — Some Chinese provinces’ intensive care beds and resources are nearing capacity as Covid-19 infections soar, national health authorities said Tuesday.

“In provinces currently experiencing high demand for intensive care, they are nearing the critical threshold of available ICU beds and resources,” Jiao Yahui, director of the medical affairs department at China’s National Health Commission, said during a press conference. That’s according to a CNBC translation of the Mandarin remarks.

In such regions, Jiao said, “it is necessary to expand the availability of ICU beds and resources, or speed up turnover.”

Overall, Jiao claimed national availability of ICU beds was sufficient, at 12.8 per 100,000 people as of Dec. 25.

Early this month, mainland China abruptly ended many Covid controls. Infections have meanwhile surged, pressuring the country’s already stretched health system.

It is unclear at what scale Covid outbreaks have hit the country, with few official figures on recent infections and deaths. China’s National Health Commission on Sunday stopped sharing daily figures after a halt in mandatory virus testing.

China's reopening is good news for the long term but bad news for the short term, consultancy says

Some local governments have disclosed details on the regional situation.

Zhejiang province — bordering Shanghai — said Sunday that daily Covid infections in the region have surpassed 1 million, and will likely double to a peak of 2 million a day around New Year’s. The province has a population of about 65.4 million.

In the capital city of Beijing — one of the earliest to see a Covid wave — the share of severe cases and elderly patients has increased at fever clinics, according to an official report Saturday. It cited a director at a local hospital as saying the share of visits by the elderly had climbed from below 20% to nearly 50%.

Read more about China from CNBC Pro

China’s health authorities were speaking Tuesday at a briefing on the country’s new Covid measures, released late Monday. The policy changes included plans to scrap quarantine for inbound travelers starting Jan. 8.

“We view the new guidelines as a major step towards the full reopening, but caution on the increased challenges to China’s medical system in the near term,” Goldman Sachs analysts said in a note Tuesday.

“The frontloaded China reopening timetable adds conviction to our below-consensus forecast for Q4 GDP growth (+1.7% yoy) and above-consensus 2023 GDP forecast (+5.2% yoy),” the analysts said.



Source

Shares of breast cancer therapy developer Olema Pharmaceutical could more than double from here
Health

Shares of breast cancer therapy developer Olema Pharmaceutical could more than double from here

Wall Street is optimistic that Olema Pharmaceutical could be developing the next major breakthrough breast cancer treatment. Earlier this month, the company announced promising clinical data for its lead candidate palazestrant, an oral medication that is being evaluated in several trials for estrogen receptor-positive, or ER+, breast cancer. Shares of the clinical-stage biopharmaceutical company are up […]

Read More
This biotech stock has jumped nearly 50% in 3 months. Its CEO says business is ‘growing substantially’
Health

This biotech stock has jumped nearly 50% in 3 months. Its CEO says business is ‘growing substantially’

It’s been a stellar few months for shares of San Francisco-based biotech company Rigel Pharmaceuticals, which has approved treatments for rheumatology and oncology — as well as potential new drugs in the pipeline. The stock has jumped about 50% in just the last three months, earning it a spot on CNBC’s list of top performing […]

Read More
We’re raising our Eli Lilly price target — what a difference a quarter makes
Health

We’re raising our Eli Lilly price target — what a difference a quarter makes

Eli Lilly shares jumped Thursday after the drugmaker posted a strong third quarter, driven by sales of its popular GLP-1 medications. The company also raised its full-year sales outlook for the second time in a row, inspiring confidence in the trajectory of the franchise. Revenue in the three months ended Sept. 30 jumped 54% year […]

Read More