Afternoon Coffee: FDA, CDC recommend to pause J&J COVID-19 vaccine over blood clot fears; ContractPodAi and Consilio partner for CLM; Ant Group Co. applies to become financial holding company in China

Adobe Stock

The US Food and Drug Administration and the US Centers for Disease Control and Prevention on Tuesday called for a pause in the use of the Johnson & Johnson (J&J) single-dose COVID-19 vaccine after six recipients developed a rare disorder involving blood clots, according to the New York Times.

Nearly 7 million people in the US have received J&J shots, and another 9 million more doses are in transit to states. All six recipients of the shot with the disorder were women between the ages of 18 and 48. One woman died, the article said.

How do you find the right procurement technology and vendor for your company? Spend Matters’ new 5-step “Procurement Technology Buyer’s Guide” can help — with how-to documents, checklist templates and other tips.

While the pause was framed as a recommendation for health practitioners in states, the federal government is likely to pause administration of the J&J vaccine at federally run sites. It is expected to affect President Joe Biden’s promise to have enough vaccines for all American adults by May. The administration had been counting on using hundreds of thousands of the J&J vaccine in that effort.

“We are recommending a pause in the use of this vaccine out of an abundance of caution,” Dr. Peter Marks, Director of the FDA’s Center for Biologics Evaluation and Research, and Dr. Anne Schuchat, Principal Deputy Director of the CDC, said in a joint statement. “Right now, these adverse events appear to be extremely rare.”

ContractPodAi announces partnership with Consilio

ContractPodAi, an AI-powered contract lifecycle management (CLM) solution, announced a partnership with Consilio.

Consilio is known for its e-discovery, document review, risk management and legal consulting service. In a press release announcing the partnership, ContractPodAi said it will introduce Consilio’s clients to its solution and allow for streamlined document automation processes. It will aim to help corporate legal teams to work smarter and faster during the contracting process.

"We are pleased to partner with Consilio, an award-winning multinational legal technologies and services suite with a modern approach," Sarvarth Misra, co-Founder and CEO at ContractPodAi, said in the press release. "Together, we look forward to bringing added value to Consilio clients around the world in various sectors, such as the financial industry, by introducing them to true end-to-end contract management capabilities."

Ant Group Co. applies to become financial holding company under Chinese central bank

Ant Group Co., the Chinese financial technology company run by billionaire Jack Ma, announced yesterday it will apply to become a financial holding company overseen by China’s central bank, according to the Wall Street Journal.

It will overhaul its business to adapt to an era of tighter regulations on internet companies in China. The People’s Bank of China said Ant representatives joined a meeting Monday with four regulatory agencies that included the country’s banking, securities and foreign-exchange overseers. It said a “comprehensive, viable rectification plan” for Ant was formulated under the regulators’ supervision over the past few months, the article said.

The decision comes after an intense regulatory period on Ma’s business empire that began with the suspension of the company’s initial public offering in November. Ma criticized financial regulators in a public speech, and he went away from public life for a while. Then in January, the WSJ reported that Ant was set to fall in line with China’s financial regulations by becoming a financial holding company, subjecting Ant to regulations like those of governing banks. The decision comes two days after Ant's sister company, Alibaba, was fined $2.75 billion for an antitrust penalty while the Chinese government tightens controls on the "platform economy," CNBC reported.

Ji Shaofeng, a former banking regulator who follows the microlending industry, told the WSJ that China's control may limit future developments in financial technology. “Putting everything under the scope of a financial regulator tends to discourage further technological innovation,” he said, adding Ant will have to navigate new rules that are in the process of being written.

Doing a tech selection? Get a shortlist fast with TechMatch℠ — the latest way to make SolutionMap's vendor rankings actionable by your company.

Share on Procurious

Discuss this:

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.