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Experts studying the new variant of Covid-19, just named Omicron by the World Health Organization (WHO), say it will be around 2-3 weeks before functional differences between Omicron and other variants become clearer.
It may be highly transmissible and scientists and governments concerned about its potency, but the WHO says that since COVID-19 tests are identifying the omicron variant, it is a positive sign and that more information about the variant could take "days to weeks." (https://www.who.int/news/item/26-11-2021-classification-of-omicron-(b.1.1.529)-sars-cov-2-variant-of-concern)
The WHO says that the variant has a large number of mutations, which is concerning and that preliminary evidence suggests an increased risk of reinfection.
England's Chief Medical Officer Chris Whitty has said that the potential risk from the new Omicron Covid-19 variant differs from the Delta variant. "It is important to stress the risk is different from Delta. Delta was primarily driven by the ability to spread really rapidly, but less concern about the vaccination escape." However, even if the new variant is more capable of infecting someone vaccinated, "it might be that [vaccines] are sufficient to prevent people from having severe disease and dying," said Patrick Vallance, UK Government Chief Scientific Adviser. (https://edition.cnn.com/world/live-news/new-covid-variant-south-africa-11-27-21/index.html)
The world's major manufacturers of Covid-19 vaccines have said that they are working at top speed to adapt their shots to Omicron.
Moderna has said that mutations in the variant "represent a significant potential risk of accelerating the waning of natural and vaccine-induced immunity….A booster dose of an authorized vaccine represents the only currently available strategy for boosting waning immunity," the company said. (https://www.cnbc.com/2021/11/26/pfizer-biontech-investigating-new-covid-variant-jj-testing-vaccine-against-it.html)
For now, many believe that the vaccines currently being administered hold the strongest hope against even the new variant. (https://www.nytimes.com/2021/11/26/health/omicron-variant-vaccines.html)
Read more:
Heavily mutated Omicron variant puts scientists on alert:
https://www.nature.com/articles/d41586-021-03552-w/
Omicron's full impact will be felt in countries where fewer are vaccinated:
https://www.theguardian.com/world/2021/nov/27/omicrons-full-impact-will-be-felt-in-countries-where-fewer-are-vaccinated