This glass could turn skyscrapers into power generators

San Francisco (CNN Business)What if every window in your house could generate electricity? One Redwood City, California-based startup thinks its technology can achieve that by transforming the way solar power is collected and harnessed.

Ubiquitous Energy has developed transparent solar cells to create its ClearView Power windows, a kind of “solar glass” that can turn sunlight into energy without needing the bluish-grey opaque panels those cells are generally associated with. The company, spun out of the Massachusetts Institute of Technology in 2012, hopes to use that tech to turn practically any everyday glass surface into a solar cell.
“It can be applied to windows of skyscrapers; it can be applied to glass in automobiles; it can be applied to the glass on your iPhone,” Miles Barr, Ubiquitous Energy’s founder and chief technology officer, told CNN Business.

    The company is looking to capitalize on the United States’ renewable energy boom, with solar and wind energy projected to surpass coal by 2021, according to the Institute for Energy Economics and Financial Analysis.
    While several companies are working on similar products, the technology is still in the relatively early stages. It’s one of several emerging products that harness solar energy, with others including irrigation pumps and a “solar oven” that can be used to make cement and steel. Ubiquitous Energy’s home state of California is one of the first to require that every new home incorporate some form of solar technology.

    “This is great for ClearView Power because homeowners can install windows just like they would anyways, but they actually produce power to meet this requirement,” Barr said.
    The core of the product is an organic dye that can be used to coat glass surfaces. The dye allows visible sunlight to pass through — just like normal windows do — but captures the invisible infrared rays from that sunlight.
    “Light absorbing dyes are found all around us. They’re in paints, they’re in pigments for clothing, and they’re even in electronic devices,” Barr said. “What we’ve done is we’ve engineered those dyes to selectively absorb infrared light and also convert that light into electricity.”
    That does mean some of the energy is lost.
    “Their basic drawback is their relatively low efficiency,” said Anne Grete Hestnes, a professor of architecture at the Norwegian University of Science and Technology who specializes in solar energy. “However, it is all a question of price. If the transparent cells are cheaper, and if the cells are to cover a relatively large area … it may be the better solution,” she added.
    Barr said Ubiquitous Energy’s transparent panels can produce up to two-thirds of the energy that traditional panels do. And he said they cost about 20% more to install than a regular window, a cost he claims is offset by the electricity they generate.
    Drinkable water is scarce. These companies are pulling it out of the air
    The company wants its solar windows to complement traditional rooftop panels rather than replace them. The combination of both methods, according to Barr, could bring the net energy consumption of large buildings to zero — meaning they produce as much electricity as they consume.
    Ubiquitous Energy has started installing its solar windows on buildings, including at its headquarters in Redwood City where it manufactures the glass panels.
    “We are already installing and selling ClearView Power windows in limited sizes, and we’re in the planning phase for a facility that we’ll be able to produce windows at any size,” Barr said.
    However, the coronavirus outbreak has forced much of the company’s production planning to be done remotely. But Barr said it is still making “significant progress.”

      “It’s still a bit early to tell what the full effects of the global pandemic will be, including for our business,” said Barr, adding that he is “still optimistic we’ll be able to begin manufacturing activities in the next two years.”
      By that point, he anticipates Ubiquitous Energy will be closer to justifying its name: “We really see the future of this technology as being applied everywhere, all around us, ubiquitous.”
      Source: Read Full Article

      Do NOT download this Android 'coronavirus safety app' – it's a scam that can steal your texts and phonebook

      A SCAM encouraging people to download an app if they want a 'coronavirus safety mask' is targeting Android users.

      Cyber-security experts found the dangerous website which states "Download App From Below Button And Install. You Will Get A Corona Safety Mask."

      ⚠️ Read our coronavirus live blog for the latest news & updates

      Victims who click download will then see another button stating "GET SAFETY MASK".

      You'll then be taken to a fake mask website.

      Then a message saying "You infected [the mask site] with High Dose of Traffic." is said to appear.

      While you're reading this message the hackers are busy gaining all your contacts from your Android phone.

      Once your contacts are taken they will then receive texts trying to lure them to the site.

      The scam was spotted by researchers at IT security company Zscaler.

      So far the scam just seems to steal contacts but Zscaler's Shivang Desai has warned it could do much more.

      He wrote in a company blogpost: "There's the threat that the malware could ask the victim to pay online for the mask and steal the credit card information, but we did not find any such functionality in the app.

      "We believe the app is in its early stages and this (and other) functionalities will be added as the app is updated."

      How to avoid the scam

      If someone does click to install the app they will be given the chance to deny the app privileges to read contacts or send SMS messages prior to installing.

      However, to really protect yourself you shouldn't be downloading Android apps from anywhere other than the official Google Play Store.

      It's wise not to trust any random websites that are trying to sell you hard-to-find medical supplies.

      If you're still concerned you could download a highly rated anti-virus app from the Google Play Store.

      What to do if you're worried you've got coronavirus

      The coronavirus is continuing to sweep its way across the globe with Britain seeing more cases in people who aren't linked to outbreaks overseas

      Symptoms of Covid-19 can include: a cough, a high temperature, difficulty breathing

      In most cases, you won't know whether you have a coronavirus or a different cold-causing virus

      But if a coronavirus infection spreads to the lower respiratory tract, it can cause pneumonia, especially in older people, people with heart disease or people with weakened immune systems

      It is incredibly contagious and is spread through contact with anything the virus is on as well as infected breath, coughs or sneezes

      The best way to prevent catching any form of coronavirus is to practice good hygiene

      If you have cold-like symptoms, you should help protect others by staying home and avoiding contact with others

      You should also cover your mouth and nose with a tissue when you cough and sneeze then throw it away and wash your hands

      Cleaning and disinfecting objects and surfaces which you may have touched is also important

      Meanwhile, leading symptom-checking provider to the NHS Doctorlink has been updated to help identify patients' risk of having coronavirus

      Source: NHS

      In other news, Microsoft has warned about a new vulnerability in all supported versions of Windows.

      YouTube is limiting video quality around the entire world for a month.

      And, a set of of 50 dodgy apps used by cyber crooks to hack into people's phones has been uncovered.

      Have you spotted any coronavirus-related scams? Let us know in the comments…

      Source: Read Full Article

      Do NOT click this 'coronavirus map' – it's a dangerous scam to hijack your device

      A DANGEROUS scam is offering people a fake "map" showing the spread of coronavirus in a bid to hijack their gadgets.

      Researchers found a malicious app disguised as a way to find out where the deadly virus has spread.

      ⚠️ Read our coronavirus live blog for the latest news & updates

      If downloaded, it allows cyber crooks to look at your and location and photos and possibly spy on you through your camera.

      The Android app, called corona live 1.1, appears to be part of a larger mobile surveillance campaign operating out of Libya and targeting Libyan citizens.

      Researcher Kristin Del Rosso, of cyber security firm Lookout, which discovered the scam, discussed the app in a blog post published Wednesday.

      Tap to see where COVID-19 is near you

      The software is actually masquerading as a legitimate coronavirus map app, corona live.

      The authentic version uses data collected by John Hopkins University to show infection and death rates of COVID-19, the disease caused by the virus, in different countries.

      However, those who download the bogus version by mistake are in for a nasty surprise.

      "Upon first launch, the app informs the user it does not require special access privileges," Kristin wrote.

      "However, it subsequently proceeds to request access to photos, media, files, device location, as well as permission to take pictures and record video."

      Once permissions are handed over, a hacker can download sensitive information from your phone, Kristin added.

      They can even remotely activate your microphone and camera to spy on you.

      Based on the IP addresses where the app is hosted, the person or group running the campaign is likely based in Libya.

      It may even be part of a sophisticated state campaign to spy on citizens, Kristin wrote.

      It's not the first time the coronavirus outbreak has been used by scammers to target people.

      Yesterday, we revealed that a new attack known as "scareware" is taking advantage of widespread fear about the virus to scam victims.

      Malware and ransomware attacks are said to be increasing as people are searching online for COVID-19.


      Get the latest coronavirus news, facts and figures from around the world – plus essential advice for you and your family.

      To receive our Covid-19 newsletter in your inbox every tea time, sign up here.

      To follow us on Facebook, simply 'Like' our Coronavirus page.

      Scientists have produced a day-by-day breakdown of the typical Covid-19 symptoms

      In other news, Instagram has banned dangerous, reckless and insensitive coronavirus filters.

      We recently debunked some of the most outrageous coronavirus conspiracy theories.

      And, Android users are being warned about a new "cookie bug" created by hackers.

      What are your thoughts on this scam? Let us know in the comments…

      Source: Read Full Article

      This is the world's largest Starbucks

      New York (CNN Business)Starbucks is testing out a new cup. It’s hoping you won’t notice.

      On Monday, the coffee chain started trialing a new recyclable and compostable cup in some locations in New York, San Fancisco, Seattle, London and Vancouver. The new version of the cup is still made from paper, and should look and feel the same as a traditional Starbucks cup. But inside, the vessel is coated with a compostable liner, rather than the plastic one used in Starbucks’ regular paper cups. That means the new cup can be composted in industrial composters, unlike the cups Starbucks uses today.
      “Customers will not see any noticeable difference from the current cup,” the company said in a statement discussing the test.

        The new liner should make it easier to recycle Starbucks cups.
        Starbucks has been trying for decades to reduce waste by developing a greener cup. It’s a hard problem to solve: Plastic-lined paper cups are light, stackable and effectively keep liquid from seeping out. And technically, at least, they are recyclable.
        But it’s difficult to do so because many recycling facilities don’t separate paper cups from their plastic linings. If the cups end up in recycling facilities that don’t separate the materials, they could gum up machines and harm the equipment.

        Finding alternatives that are functional and cost-effective is tough: Without a broad market for recyclable cups, there’s no incentive to make cheap versions at scale.
        But consumers are growing increasingly concerned about the plastic waste crisis, and are looking for sustainable solutions. To appease them, companies are making broad recycling and sustainability commitments and experimenting with reusable packaging.
        A few years ago, Starbucks doubled down on its effort to find a more eco-friendly cup by committing to the NextGen Cup Challenge. Starbucks (SBUX), along with food-sector rival McDonald’s (MCD), committed $10 million toward the contest, which was run by recycling-focused investor group Closed Loop Partners. The challenge crowdsourced solutions and named several winning technologies, including the bioliner Starbucks is now testing.
        You can't get your own mug filled at Starbucks anymore because of coronavirus
        There’s a long road ahead.
        Even with the compostable lining, recyclers still have to separate the liner for the cup.
        Starbucks is intentionally testing the new cups out in cities with recycling facilities that can do so. But recycling infrastructure in the United States varies from region to region, and it’s hard to know whether something that can be recycled actually is recycled. Starbucks is working with Closed Loop Partners and others to make sure that the cups really are more easily recycled than its traditional products.

          It’s not limiting testing to the biolined cups. Other NextGen Cup challenge winners included reusable cups. One, called CupClub, puts RFID chips in cups so they can be tracked and then picked up from drop points to be cleaned and reused. Starbucks, which announced last year that it would test out greener cups, is still exploring other potential solutions.
          Reusable cups are a simpler way to cut back waste because they bypass the complex recycling system altogether. Until recently, the chain offered slight discounts when customers brought in their own mugs to encourage using those instead of disposables. But Starbucks has paused the policy, temporarily banning the use of personal cups over hygiene concerns as the coronavirus continues to spread.
          Source: Read Full Article

          'This is not a drill': WHO sounds coronavirus alarm

          WHO hasn’t declared coronavirus ‘a pandemic’ yet: Dr. Anthony Fauci

          National Director of Allergy and Infectious Diseases director Dr. Anthony Fauci says the vast majority of Americans aren’t at risk of contracting coronavirus.

          BANGKOK (AP) — The global march of the new virus triggered a vigorous appeal Thursday from the World Health Organization for governments to pull out “all the stops” to slow the epidemic, as it drained color from India's spring festivities, closed Bethlehem's Nativity Church and blocked Italians from visiting elderly relatives in nursing homes.

          Continue Reading Below

          As China, after many arduous weeks, appeared to be winning its epic, costly battle against the new virus, the fight was revving up in newly affected areas of the globe, unleashing disruptions that profoundly impacted billions of people.

          The U.N. health agency urged all countries to “push this virus back,” a call to action reinforced by figures showing about 17 times as many new infections outside China as in it. The virus has infected nearly 98,000 people and killed over 3,300.


          “This is not a drill. This is not the time for giving up. This is not a time for excuses. This is a time for pulling out all the stops,” WHO Director-General Tedros Adhanom Ghebreyesus said in Geneva. "Countries have been planning for scenarios like this for decades. Now is the time to act on those plans."

          As Chinese manufacturers gradually reopened their factories, anti-virus barriers went up elsewhere.

          In Italy, the epicenter of Europe's outbreak, workers in latex gloves pinned “closed” notices on school gates, enforcing a 10-day shutdown of the education system. Italy's sports-mad fans are also barred from stadiums until April 3.

          A government decree that took effect Thursday urged the country's famously demonstrative citizens to stay at least 1 meter (3 feet) apart from each other, placed restrictions on visiting nursing homes and urged the elderly not to go outside unless absolutely necessary.

          That directive appeared to be widely ignored, as school closures nationwide left many Italian children in the care of their grandparents. Parks in Rome overflowed with young and old, undercutting government efforts to shield older Italians from the virus that hits the elderly harder than others. Italy has the world’s oldest population after Japan.

          “It’s an absolute paradox!” said Mauro Benedetti, a 73-year-old retiree called upon to watch his grandson. “They tell us to stay home. How can we help our kids and grandkids at the same time?"

          “Grandparents are now at risk,” he said.


          Italy's death toll climbed Thursday to 148, and its confirmed cases to 3,858.

          Iran, which has registered 107 virus deaths, also closed schools and universities and introduced checkpoints to limit travel between major cities. Iranians were urged to reduce their use of paper money. Iranian state TV also reported that Hossein Sheikholeslam, a 68-year-old diplomat who was an adviser to Iran’s foreign minister, had died of the virus.

          Amid the string of bad news, Iranian President Hassan Rouhani urged state television to offer “happier” programs to entertain those stuck at home.

          Brian Hook, the U..S. special representative for Iran, said the United States offered humanitarian assistance to help Iran deal with its outbreak but “the regime rejected the offer.” He said the offer would stand.

          Virus fears also affected the joyful Indian celebration of Holi, in which Hindu revelers celebrate the arrival of spring with bursts of color, including bright powders smeared on faces. Prime Minister Narendra Modi and other leaders said they wouldn't attend Holi events and the Holi Moo Festival in New Delhi was canceled.

          In the United States, where 12 have died from the virus, hundreds were placed in self-quarantines due to cases in a New York suburb. A suburban Seattle school district with 22,000 students announced it would close for up to two weeks because of coronavirus concerns and Seattle's normally clogged highways were nearly vacant for Thursday's morning commute as large tech employers like Amazon encouraged employees to work from home.

          In Seattle, health officials recommended that the elderly and people with weak immune systems not attend games after an employee at the 72,000-seat football stadium tested positive for the coronavirus.


          Off the coast of California, a cruise ship carrying about 3,500 people was ordered to stay put until passengers and crew could be tested because a traveler from its previous voyage died and another three were infected. A helicopter delivered test kits to the ship, which has people aboard with flu-like symptoms — lowering the kits by rope to the 951-foot (290-meter) Grand Princess

          Financial markets remained volatile, as investors continued to weigh the size of the epidemic's dent on the global economy. Outbreak fears led to a sharp U.S. stock selloff, with the Dow Jones Industrial Average falling 969 points, or 3.6 percent, nearly wiping out gains from a day earlier. Analysts said more yo-yo moves on global markets are likely while new infections accelerate.

          The OPEC oil cartel called for a deep production cut to keep crude prices from falling further as disruption to global business from the coronavirus slashes demand from air travel and industry — deciding Thursday to push for a cut of 1.5 million barrels a day, or about 1.5% of total world supply.

          Across the globe, travelers faced ever-greater disruptions, as countries sought to keep the virus out. But South Africa confirmed its first case Thursday, becoming the seventh African nation to report infections. Britain and Switzerland reported their first coronavirus deaths.

          “The virus doesn’t care about race and belief or color. It is attacking us all, equally,” said Ian MacKay, who studies viruses at the University of Queensland in Australia.

          The outlook for the travel industry was increasingly grim. The International Air Transport Association said the outbreak could cost airlines as much as $113 billion in lost revenue. The struggling British airline Flybe collapsed Thursday amid sinking demand.

          Australia, Indonesia, and the United Arab Emirates were among the countries banning entry from people coming from countries that had outbreaks.


          Germany’s Lufthansa and its subsidiaries Austrian Airlines and Swiss said they will cancel all flights to and from Israel for three weeks starting Sunday after Israeli authorities announced tough restrictions on travelers from several countries because of the new virus.

          Palestinian officials closed the storied Church of the Nativity in the biblical city of Bethlehem indefinitely, weeks ahead of the busy Easter holiday.

          Japan said visitors from China and South Korea would face a two-week quarantine at a government facility and be barred from public transit. Sri Lankans arriving from Italy, South Korea and Iran will be quarantined at a hospital once used for leprosy patients.

          In China, where hospitals were releasing hundreds of recovered patients, officials reported 139 new infection cases and 31 more deaths. Overall, China has reported 80,409 cases and 3,012 deaths, and authorities say about 6,000 people remained hospitalized in serious condition.

          A state visit to Japan by Chinese President Xi Jinping was postponed. It was to have been the first for a Chinese leader since 2008.

          Source: Read Full Article

          This new Aston Martin has no roof or windshield

          New York (CNN Business)Elite, high-performance British cars with no roofs and ultra-high price tags seem to be all the rage these days.

          McLaren, Bentley and now Aston Martin have all unveiled limited-production cars with seven figure — or very nearly seven figure — price tags and no roof whatsoever.

          The Aston Martin V12 Speedster is powered by a turbocharged V12 engine.
          Aston Martin’s entry in this very narrow field, the V12 Speedster, was unveiled Wednesday morning in an online presentation. The Speedster was supposed to have been unveiled at the Geneva Motor Show, but the annual event was canceled this year due to fears about the coronavirus.

            Only 88 V12 Speedsters will be produced and they will have a starting price of $950,000 each. The cars are a product of Aston Martin’s “Q by Aston Martin” customization service. The division is named after the character Q in James Bond films who creates clever gadgets and adds features like smoke screens and machine guns to cars — often Aston Martins — for Bond to use.
            The Speedster is powered by a 700-horsepower turbocharged V12 engine mounted under the car’s long hood. The car can go from zero to 60 miles an hour in about 3.5 seconds, according to Aston Martin, and it has a top speed of 186 miles an hour.

            The overall shape of the car is reminiscent of vintage racing cars. The driver and passenger sit in seats nested inside separate elongated oval openings in the Speedster’s body.

            The V12 Speedster was modeled on 1950s Aston Martin race cars.
            The Speedster was inspired by Aston Martin racing cars of the past, such as the 1959 Aston Martin DBR1 that won the Le Mans 24 hour race. One of the drivers of that car was Carroll Shelby, best known today for his namesake Ford-powered performance cars. When driving that, Shelby did, at least, have a windshield in front of him. The Speedster does not have a windshield.
            The Speedster was conceived of only a year ago, according to Aston Martin, and it was made ready for production in that short time. Ordinarily, cars take far longer to go from the drawing board to the factory floor. In this case, there were clearly far fewer practical considerations to worry about than in even an ordinary sports car.
            The Speedster is, as Aston Martin calls it, “a living show car.”
            The car’s body is made almost entirely from carbon fiber. The interior was designed to be as simple as possible. Instead of a glove compartment, there’s a removable leather satchel. There is some room for luggage under the raised areas behind the seats.
            Buyers will, of course, be able to customize the V12 Speedster. For the presentation version, Aston-Martin designers pay homage to the F/A-18 Super Hornet fighter plane, including numerous bright red tie straps and “Do Not Step” markings on the central bar between the seats.

            The show car version of the Aston Martin V12 Speedster pays homage to the F/A-18 Super Hornet fighter plane.
            Aston Martin is currently accepting orders for the V12 Speedster, with the first cars expected to be delivered early next year.

              Aston Martin was only recently rescued from dire financial trouble when Canadian Formula 1 team owner Lawrence Stroll purchased a large share of the company for £500 million, or $650 million. It’s not the first time in Aston Martin’s 106-year history that the brand has been pulled back from the brink.
              Besides ultra-expensive cars like this and more accessible sports cars like the DB11 and Vantage, Aston Martin’s future hopes also lie with the new DBX SUV, the company’s first SUV. It was unveiled at the Los Angeles Auto Show in November.
              Source: Read Full Article

              COVID-19: This too shall pass … like a kidney stone

              Given moderate economic growth, quantitative easing and generally falling interest rates, it’s been a prolonged period of favourable investment conditions, real estate included. Save for US-China trade war sabre rattling, we haven’t had a serious stress test for more than eight years.

              Coronavirus presents a challenge to the robustness of the increasingly integrated global economy, in which people and goods move relatively seamlessly and consumers expect increasingly rapid delivery times. Hence, COVID-19 is a test of the burgeoning e-commerce world.

              Health officials work to diagnose people who may have coronavirus at a hospital in Daegu, South Korea.Credit:KIM HYUN-TAE

              From a real estate investment trust (REITs) perspective, the sector is reasonably well positioned to deal with the challenge. Investors can take comfort that the sector’s balance sheet is broadly in a strong position: financial leverage is generally moderate and there are but a few facing short-term debt maturities.

              Furthermore, many REITs afford multi-year contracted lease income, which provides a relatively secure cash-flow bridge over short- to medium-term periods of economic weakness.

              Consequently, while it's early days, REIT earnings have not been significantly impacted. Naturally, hotel REITs have borne the immediate brunt. With its global logistics platform, Goodman Group would seem vulnerable but has thus far batted away the issue. Indeed, it upgraded its earnings guidance in mid-February.

              Tourism-related retail has also been a focal point. Vicinity Centres is possibly the only Australian REIT to attribute a softer earnings outlook to weaker Chinese tourism spending in its properties.

              Overseas markets provide interesting pointers. Hong Kong retail landlords have afforded significant rent concessions in response to meaningfully lower retail spending, albeit coming after civil unrest inducing generally softer spending in the past six months.

              However, successfully managing COVID-19 will not necessarily see a return to smooth sailing for retail REITs, as they continue to deal with changing consumer tastes and spending patterns. In the UK, arguably the market with the world’s highest e-commerce penetration, mall rents are falling by 20-30 per cent.

              Furthermore, coronavirus is overshadowing broader economic challenges of sluggish business investment, the distorting impacts of quantitative easing, climate change and a US presidential election. The market has much to ruminate on beyond the impacts of the virus.

              Hence, REIT returns are likely to be more moderate and investors should expect choppy conditions. Never has it been more appropriate to say it will pay to be prudent and selective.

              In the all-important context of people’s health, for REITs it is appropriate to offer: “This too shall pass.”

              But for financial markets, it could be as painful as trying to pass a kidney stone.

              Andrew Parsons, is the chief investment officer for Resolution Capital

              Source: Read Full Article

              This UK company is struggling due to the coronavirus

              London (CNN Business)Drugmakers in India are bracing for potential disruption from the coronavirus. If they’re hit, the impact could be felt around the world.

              Indian pharmaceutical companies, which produce 20% of the world’s drugs supply by volume, are warning that the outbreak threatens to disrupt the supply of raw materials from China.
              These bonds were supposed to help fight diseases like coronavirus. They've never paid out
              The drugmakers say they have enough supplies on hand to continue production for now. But their operations could be endangered if the coronavirus continues to cause disruption in China.

                Almost 70% of the raw materials India uses in drug manufacturing are imported from China, according to brokerage firm SBICAP Securities. Hubei province, where the coronavirus originated, is a major production hub.
                “A lot of our pharma value chain is linked to China,” Umang Vohra, the CEO of generics producer Cipla, told investors on February 5. “It is linked for the entire pharmaceutical industry.”

                “If this coronavirus thing continues for more than a month or 45 days, that will begin to create a huge amount of issue for the pharma sector,” he added.
                The coronavirus that started in Wuhan has infected more than 75,000 people around the world, mostly in mainland China. The death toll is more than 2,000. China is slowly getting back to work, but some plants in the country remain closed. It could be weeks or months before global supply chains fully recover.
                India is the world’s biggest exporter of generic drugs, sending huge volumes of medicines to countries including the United States. Kunal Dhamesha, an analyst at SBICAP Securities, said companies that make anti-infective and hormones therapies, such as GSK India, Pfizer (PFE), and Cipla, are most at risk from material shortages.
                Apple revenue will be hit as coronavirus creates iPhone supply shortages, company warns
                Aurobindo Pharma, Cadila Healthcare and Sun Pharma are among the firms that say they are monitoring the situation. Kamal Sharma, the vice chairman of Lupin, told investors on February 6 that while his company has enough supplies to ride out the coronavirus issue for months, executives are “not getting visibility on shipment of containers” from China.
                Sun Pharmaceutical, which sells mainly to the United States, said its inventory will meet demand in the short term. But it warned that supply chains are complicated, and the original source of material is not always clear.
                “Many of the raw materials, which we may be buying in India, may have dependence on the Chinese intermediate,” Dilip Shanghvi, the company’s managing director, said during an earnings conference call on February 6. “So we think we are buying from India, but there is a China link.”

                Global implications

                Jens Spahn, the German health minister, warned Thursday that the outbreak could lead to drug shortages in Europe. He called on the European Commission to devise proposals to address the issue.
                European and American drugmakers say they are also watching for potential materials shortages.
                “In the short term, we are fine but obviously this is something that we need to keep under review,” Emma Walmsley, the CEO of GSK (GSK), said on February 5. “We regularly monitor our supply chains overall for these kind of situations, and we are prepared for these kind of issues, but we need to keep an eye on how long term it will be.”
                Mylan (MYL), a large generics manufacturer, is monitoring the situation and has put additional protections in place. Pfizer (PFE) said it has not seen any disruption to its supply chain, and the majority of its finished products and ingredients are sourced from countries other than China.
                With a majority of some US medical supplies coming from or originating in China, the coronavirus could have “chilling implications” for supply chains, according to Robert Kadlec, assistant secretary at the US Department of Health and Human Services.

                  “The distributors and suppliers feel like right now they’re okay,” he said at a briefing Tuesday held by the Council on Foreign Relations. “How this plays out longer term is still a matter of concern.”
                  — Michael Nedelman contributed reporting
                  Source: Read Full Article