NEW JERSEY – An additional $100 million in Coronavirus Aid, Relief, and Economic Security (CARES) Act funding to support New Jersey residents and businesses affected by the COVID-19 pandemic, according to officials.

The bulk of the money, $70 million, will be distributed to restaurants, microbusinesses, and other small businesses through Phase 3 of the New Jersey Economic Development Authority (NJEDA) Small Business Emergency Assistance Grant Program.

“Small businesses and the people they employ are the backbone of New Jersey’s economy, yet they have borne a disproportionate share of the burden of the COVID-19 pandemic,” said Governor Phil Murphy. “If we are to emerge from this pandemic stronger and more resilient than we were before, it is incumbent on us to support them in any way possible. This additional funding helps us accomplish that goal.”

An additional $10 million will be used to help small businesses purchase Personal Protective Equipment (PPE) through the NJEDA Small and Micro Business PPE Access Program; $15 million will go to support renters through the Department of Community Affairs (DCA) COVID-19 Emergency Rental Assistance Program.

“The COVID-19 pandemic has had a devastating economic impact on many vulnerable New Jersey families and keeping a roof over their heads is our top priority,” said Lt. Governor Sheila Oliver, who serves as DCA Commissioner. “The additional support we are providing will extend relief to tenants so they can focus their limited resources on staying safe and secure.”

The remaining $5 million will be used to provide relief for New Jersey residents facing food insecurity. These funds will build off of the $20 million announced in July that the Department of Agriculture (NJDA) used to support Emergency Feeding Organizations, which have been supporting food banks, food pantries, hunger relief centers, and soup kitchens that provide food to those in need.



a man standing in front of a door: The many confusions and disputes in COVID-19 insurance settlements


© Venkatasubramanian K
The many confusions and disputes in COVID-19 insurance settlements

Abhishek Bondia

“Make sure you assess your viral load based on the CT value,” Biocon’s Kiran Mazumdar Shaw suggested in her blog about ways to manage COVID-19 after successfully recovering from the illness. The Hindu was quick to declare shortly after Shaw’s blog was published that there is “no correlation between CT values and COVID-19 severity.” Such contradictions have been a hallmark of this evolving pandemic. Similar confusion has prevailed in several parts of insurance delivery. At times, this has compounded the issues for the policyholder, who is battling a relatively less understood illness, the social issues attached to it, and limited supply of proper care.

Confusion despite clarification

At the onset of the pandemic, the insurance regulator clarified that all standard health insurance policies cover COVID-19 and asked for insurers to be extremely cautious before rejecting a COVID-19 claim. However, several issues emerged despite such a broad clarification. Would hospital quarantine be covered under insurance, if you are not tested positive but suspected of COVID? Is a claim admissible if a COVID-positive patient is hospitalized to ensure the condition does not deteriorate, but the line of treatment is conservative? Insurance policies generally do not reimburse expenses incurred for observation purpose. If a patient chooses to be treated at home instead of getting hospitalized, would the expenses be reimbursed? In policyholders’ minds, home treatment leads to lower outgo for the insurer. So, they have a commercially rational expectation to have at least the reduced expenses reimbursed. But, in most policies, a minimum 24 hours of hospitalization is required for a claim to be accepted.

Scarcity premium

Scarcity of hospital beds, which resulted in price increases, has been another major source of customer dispute. Several hospitals have unilaterally increased

Happy Monday and welcome back to On The Money. I’m Sylvan Lane, and here’s your nightly guide to everything affecting your bills, bank account and bottom line.

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THE BIG DEAL—Trump faces unusual barrier to COVID-19 aid: President TrumpDonald John TrumpDes Moines mayor says he’s worried about coronavirus spread at Trump rally Judiciary Committee Democrats pen second letter to DOJ over Barrett disclosures: ‘raises more questions that it answers’ Trump asks campaign to schedule daily events for him until election: report MORE‘s last-ditch effort to secure another enormous package of emergency coronavirus relief is being threatened by an unusual group: his GOP allies in Congress.

For almost four years, Republican leaders have rallied behind the president on issues as varied as health care, immigration, trade and defense, even when his positions bucked long-held conservative doctrines.

Yet just weeks before the Nov. 3 election, as the embattled president is exhorting Congress to move a major package of COVID-19 aid, those same lawmakers have emerged as the single greatest barrier standing in his way. The Hill’s Mike Lillis and Scott Wong tell us why here.

Republican resistance: 

The politics: The resistance comes at a crucial point in the presidential campaign, when Trump is recovering from his own bout with COVID-19, trailing badly in the polls and all but pleading with Republican leaders to “go big” with a late-cycle lifeline to promote on the trail.

“I would like to see a bigger stimulus package, frankly, than either the Democrats or

Happy Monday and welcome back to On The Money. I’m Sylvan Lane, and here’s your nightly guide to everything affecting your bills, bank account and bottom line.



a person wearing a suit and tie: On The Money: Trump faces unusual barrier to COVID-19 aid in GOP allies | Advocates plead for housing aid as eviction cliff looms


© Getty Images/Greg Nash
On The Money: Trump faces unusual barrier to COVID-19 aid in GOP allies | Advocates plead for housing aid as eviction cliff looms

See something I missed? Let me know at [email protected] or tweet me @SylvanLane. And if you like your newsletter, you can subscribe to it here: http://bit.ly/1NxxW2N.

Write us with tips, suggestions and news: [email protected], [email protected] and [email protected]. Follow us on Twitter: @SylvanLane, @NJagoda and @NivElis.

THE BIG DEAL-Trump faces unusual barrier to COVID-19 aid: President Trump’s last-ditch effort to secure another enormous package of emergency coronavirus relief is being threatened by an unusual group: his GOP allies in Congress.

For almost four years, Republican leaders have rallied behind the president on issues as varied as health care, immigration, trade and defense, even when his positions bucked long-held conservative doctrines.

Yet just weeks before the Nov. 3 election, as the embattled president is exhorting Congress to move a major package of COVID-19 aid, those same lawmakers have emerged as the single greatest barrier standing in his way. The Hill’s Mike Lillis and Scott Wong tell us why here.

Republican resistance:

  • Senate Majority Leader Mitch McConnell (R-Ky.) has repeatedly thrown cold water on the idea of spending trillions more dollars to fight the pandemic, citing the opposition of roughly 20 Republicans in the upper chamber.
  • On a conference call Saturday, Senate Republicans voiced concerns to party leaders about the $1.8 trillion package proposed by the White House a day earlier.
  • The backlash ensured that the only path to passage is on the shoulders of Democratic votes – a strategy McConnell

The specialist in medical delivery technology, Catalent (CTLT) has been inching higher steadily, as those who are aware about the company’s important role in the availability of a COVID-19 cure have been buying the stock.

While the stock price of better famed peer Emergent BioSolutions (EBS) with three times more followers on Seeking Alpha has also being trending higher, its path has been somewhat more volatile. One of the factors that can explain this volatility is strong following by the retail trading crowd tracking COVID-19 vaccine news.

Figure 1: Comparing stock performance for Catalent and Emergent

ChartData by YCharts

This has not been the case with Catalent despite the company inking three manufacturing agreements with COVID-19 vaccine developers, including big names like Johnson & Johnson’s (NYSE:JNJ), Moderna (NASDAQ:MRNA) and AstraZeneca (NASDAQ:AZN), to provide fill-finish capabilities.

Fill-finish manufacturing

Fill-finish is a lesser-known but crucial step between development of vaccine by biotechs and its availability for clinical trials in testing centers or, at a later stage, on a more widespread basis in hospitals and points of care for administration to patients. Fill-finishing basically involves putting the vaccines in vials or glass containers under strict hygiene or sterile conditions to prevent contamination.

Biotech companies resort to the likes of Catalent for this critical process, as any contamination would adversely impact efficacy of the vaccine and result in significant economic losses for them.

Now, for investors, an important question is whether Catalent will be able to honor its manufacturing contracts with these big names.

The answer is yes, for both drug substance manufacturing and drug product manufacturing capabilities both in the U.S. and Europe. Facilities include Bloomington for Johnson & Johnson and Moderna, as well as Anagni (Italy) for AstraZeneca, but there are other locations too.

Also, the fact that the company