Outlook on developing effective coronavirus treatments

United States Pharmacopeia Executive Vice President & Chief Science Officer Jaap Venema joins Yahoo Finance’s Zack Guzman to discuss the latest coronavirus treatment developments.

Video Transcript

ZACK GUZMAN: Well, the other update we've been watching out of Washington DC was a very interesting piece of sound that we got from an immunologist, Dr. Rick Bright, who was ousted from his job after warning the Trump administration to prepare for the pandemic. He spoke in front of the House Energy and Commerce Committee just a few hours ago. And interestingly, Dr. Bright warned that a resurgence in cases as states continue to reopen their economies could present some very, very serious issues moving into 2020's winter. He said that 2020 will be the darkest winter in modern history. Here's what he had to say.

RICK BRIGHT: If we fail to improve our response now based on science, I fear the pandemic will get worse and be prolonged. There will be likely a resurgence of COVID-19 this fall. It will be greatly compounded by the challenges of seasonal influenza. Without better planning, 2020 could be the darkest winter in modern history.

ZACK GUZMAN: All right, so let's chat a little bit more about this. Because obviously, we've been talking about how the president's timeline differs from what someone in the science community has been projecting here. So we're going to bring on Jaap Venema. He is executive vice president and chief science officer at United States Pharmacopeia, the nonprofit dedicated to helping improve global health through standards and compounding pharmaceutical manufacturing and other fields.

And Mr. Venema, I mean, the interesting thing here to me is that there aren't assumptions that basically everybody out there is going to be jumping at the idea of actually going out and getting a vaccine here once we get it. So how are you kind of projecting how many Americans are going to be accepting this vaccine, and how long that might actually take before you do think about being completely safe to fully reopen?

JAAP VENEMA: Thank you, Zack. First of all, let me express the hope that every American will be able, will be willing to take the vaccine once it's available. Because vaccines are truly a miracle invention when it comes to medical science and protects many, many lives. So that's something that I certainly like to mention.

When it comes to the timeline, as you know, many components go into the preparation, development, and manufacturing of a good and healthy and safe vaccines. So it will take some time to develop that vaccine, and my expectation is that will be available along the timeline of 12 to 18 months. Of course, scientists, companies, the regulatory agencies around the world are working very hard to do this as fast as possible. And we have to do this in a way that still is based in science, and facts, and evidence to make sure that we administer the vaccines to healthy people.

ZACK GUZMAN: Yeah, I mean, you talk about the importance of making sure that it's safe. I guess it becomes another question whether or not people think that it will be, especially if you're listening to the president talking about expediting the timeline to get that vaccine out. Interestingly, a study by the Conversation pointed out that about 23% of Americans right now might refuse a COVID-19 vaccine.

That's not necessarily people who classify themselves as anti-vaxxers. Then the percentage jumps quite a bit, but you're talking about maybe a quarter of Americans out there not necessarily saying that they would be quick to take up a vaccine here. So I mean, does that number surprise you? What's your take on maybe the reluctance and why people might be a little bit reluctant?

JAAP VENEMA: The number does surprise me. It is high. I am aware of the reluctance against vaccines. The number is certainly higher than I would have expected. I think it has to do with the uncertain times that we live in. We're all dealing with our own uncertainties.

What does the virus do? Where is it? How long will this take? And as we've just heard, what happens to my job and my safety, et cetera? So in these uncertain times, I can certainly understand that response. And that's why it's so important to keep communicating to the general public how these vaccines are going to be prepared, what diligence and what signs and facts go into that to make sure that we convince the general public to take them and to prepare them in a safe way.

ZACK GUZMAN: Yeah, it was a surprisingly high number for me as well. But I mean, when you looked into why that might be, I mean, vaccines aren't necessarily new, right? As you were talking about, they've been around, and they've been proven safe in terms of how we've battled certain things when you look at mumps and measles. In terms of those numbers, and I guess, the historical precedent here to kind of make sure that those are mandatory, can't go to school unless you have certain vaccines, immunizations, what's your take on how that necessarily compares to COVID-19, and why it's so important beyond some of those things to make sure that you do and how you might actually enforce making sure people get these vaccines?

JAAP VENEMA: Yeah, that's a very, very important question you're asking. What you're really asking are health policy questions, and I'm a scientist. I'm an academic scientist rooted in what it takes to do that, so these very difficult questions. The best we can do is to continue to base those decisions in the science, in the evidence that is available at the time.

I think the big difference with the example you mentioned on measles and mumps is that we're dealing with a new virus, a new thing that we are learning new things about every day. And we have to cope with that situation and make the best possible decisions based on what we now know today. So it's very hard to predict right now how all of that will play out in the coming months.

ZACK GUZMAN: Lastly, when you're talking about the timeline, we talked, we opened with kind of the divergence in terms of President Trump's timeline saying that he hopes to get a vaccine out there by the end of this year. We've heard from Dr. Fauci saying that it might be 12 to 18 months more likely on the timeline. What's been your estimation of how quickly this could move forward in getting something that is safe and proven effective? And I guess, how long it would then take to get it distributed to not just Americans, but around the globe.

JAAP VENEMA: Right now, we are working with a timeline of approximately 12 to 18 months. We are working with local companies here in Maryland, where we are based, as well as around the world. There are currently over 100 vaccine trials going on. Not all of them will be successful. We know that from experience, and we have been working with the Maryland Tech Council in the life sciences to really help understand what it takes to do that expeditiously and in a good manner.

So what we are providing are services to expedite the development and the manufacturing. We have been around, [INAUDIBLE] for 200 years. We have services to offer when it comes to ensuring quality in vaccines, and we're doing everything possible to expedite those timelines. Right now, we are thinking in the same terms as 12 to 18 months to get that vaccine available, manufactured in the number of doses that will be required to protect the US population, as well as the world.

ZACK GUZMAN: All right, there you go. The latest on the vaccine from Japp Venema at US Pharmacopeia, Executive Vice President and Chief Science Officer. I appreciate you taking the time, Mr. Venema. Good luck.

JAAP VENEMA: Thank you.