Roche to invest in German testing site

Pharmaceutical companies continue to make headlines as governments and investors hang their hopes on a steady recovery from the Covid-19 pandemic. Gilead Sciences CEO Daniel O’Day said Sunday the company would be donating its entire supply of remdesivir to treat coronavirus patients. Roche Chairman Christoph Franz said Monday morning the drugmaker will invest more than $437 million in a German testing site. Another week of quarterly reports lies ahead, and more retail locations are reopening as U.S. states loosen lockdown restrictions.

This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks. 

• Global cases: More than 3.5 million
• Global deaths: At least 247,752
• US cases: More than 1.1 million
• US deaths: At least 67,686

The data above was compiled by Johns Hopkins University.

Tyson Foods reported a fiscal second-quarter decline in net income of 15{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} year over year, sending the company’s shares down 5{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} in premarket trading. 

Tyson temporarily closed plants amid the Covid-19 outbreak after hundreds of workers tested positive for the virus. The company expects higher production costs and lower productivity as it attempts to ramp back up. Read more about Tyson’s fiscal second quarter and coronavirus response from CNBC’s Amelia Lucas. —Sara Salinas

People who have recovered from Covid-19 are “very likely” to be immune to the virus, according to Roche CEO Severin Schwan. 

“We know from other coronaviruses that it’s very likely as soon as you have gone through an infection you will also acquire immunity,” he said on CNBC’s “Squawk Box Europe,” adding that more research is needed. “We need studies to really see whether those people who have been infected once are subject to reinfection. But there’s a high likelihood that this will be the case.” —Chloe Taylor

Swiss drugmaker Roche will invest more than 400 million euros ($437 million) in a German testing site, according to Reuters. Roche Chairman Christoph Franz said the investment will include making antibody tests in order to detect people who have already been infected with virus and recovered. 

Franz said the drugmaker will invest in its biochemical production facility in Penzberg, as well as in additional diagnostics research and development, Reuters reported. —Sara Salinas

The reproduction rate of the coronavirus in Germany is currently estimated at 0.74 on average, Health Minister Jens Spahn said, Reuters reported.

The reproduction rate refers to how many people could be expected to be infected by someone with the virus, on average. Health authorities want to keep that number below 1 so the spread of the virus gradually slows. — Holly Ellyatt

The number of deaths from the coronavirus in Spain reached 25,428 on Monday, up from 25,264 the previous day, its health ministry said. That marks a daily increase of 164 deaths.

Spain has recorded 218,011 cases of the virus, the second highest total from any country, after the U.S. —Holly Ellyatt

Prime Minister Shinzo Abe has decided to extend Japan’s state of emergency to May 31.

Abe said he will consider lifting the emergency without waiting for its May 31 expiration if experts decide is possible based on regional infection trends, according to Reuters. —Holly Ellyatt

Activity in the euro zone’s manufacturing sector contracted at a record rate in April with Covid-19 related measures impacting heavily on demand and production, a survey showed.

IHS Markit’s Purchasing Managers’ Index for manufacturing fell to 33.4 in April from 44.5 in March, the final PMI data showed Monday. It’s slightly lower than preliminary data estimating a decline to 33.6. The 50-point mark separates monthly expansion from contraction.

“Below the earlier flash reading, the latest PMI was the lowest ever recorded by the series (which began in June 1997), surpassing readings seen during the depths of the global financial crisis and indicative of a considerable deterioration in operating conditions,” IHS Markit said.

“Output, new orders, export sales and purchasing activity all fell at record rates, whilst supply side constraints intensified to an unprecedented extent. Confidence about the future sank to a fresh series low.” —Holly Ellyatt

The number of new cases in Russia has risen by 10,581 over the past 24 hours, its crisis response center said. That compares to a daily increase of 10,633 that was recorded on Sunday.

Russia’s total number of cases has reached 145,268 and it has recorded 1,356 deaths. Russia has now become the seventh-worst- hit country in terms of infections, Johns Hopkins University data shows. Russian Prime Minister Mikhail Mishustin was diagnosed with the coronavirus just last week. —Holly Ellyatt

Read CNBC’s coverage from CNBC’s Asia-Pacific and Europe teams overnight here: Russia sees over 10,000 new cases; Euro zone manufacturing slumps in April