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Coronavirus Latest: Wednesday, October 28

As cases rise globally, Sanofi and GlaxoSmithKline have agreed to provide 20 million vaccine doses to the WHO’s COVAX program and the U.S. has agreed to pay $347 million for 300,000 doses of Eli Lilly’s antibody drug. Yahoo Finance’s Anjalee Khemlani joins The Final Round to discuss the latest on the coronavirus.

Video Transcript

MYLES UDLAND: All right, welcome back to "The Final Round" here on Yahoo Finance. Myles Udland with you in New York. We see the stock market under pressure here for the second time in three days. Not only do we have election concerns, but also concerns about the rising number of COVID cases both here in the US and around the globe. Yahoo Finance's Anjalee Khemlani joins us now for the latest on the COVID front. Anjalee.

ANJALEE KHEMLANI: Thanks, Myles. Unfortunately we know that the cases are rising at a pretty fast rate globally, as well as in the US. In Europe in particular, we're seeing those cases with France and Spain surpassing that one million mark and joining about seven other countries in that unfortunate block. What we've heard now, is that Europe is considering some lockdowns, especially in France and Germany right now.

Meanwhile here in the US, we've got El Paso, Texas, Newark, New Jersey and Philadelphia, Pennsylvania all with lockdown or sort of strict curfews in the evening as of this week and last. So that's where it stands in terms of the cases right now. More than 8.8 million in the US. Meanwhile, looking at the vaccine and treatment front, we know that Eli Lilly had some reports about its antibody treatment not showing much effect in hospitalized patients.

However, it is maintaining its emergency use authorization right now with mild to moderate patients. And that is being affected by Operation Warp Speed, which announced this morning that for 300,000 doses, they'll be paying about $375 million. And that is an initial dose purchase in advance, and they can go up from there. Meanwhile, we also know that GlaxoSmithKline and Sanofi, which are partnering on a vaccine, have donated about 200 million doses to the global vaccine effort. And that is that cooperation with the World Health Organization and Gavi right now. So that's how it all looks as it stands.