Ex-FDA Commissioner Gottlieb On Whether Coronavirus Vaccine Will Bring Return To Normal

Many investors are working under the assumption that a safe vaccine against the coronavirus will allow society to return to how it was pre-pandemic.

Investors may be missing part of the story, including how the vaccines work, former FDA Commissioner Dr. Scott Gottlieb said on CNBC's "Squawk Box."

What Happened: The multiple vaccines undergoing clinical studies don't appear to be designed to provide sterile immunity, Gottlieb said.

Rather, the vaccines will reduce the likelihood of contracting the COVID-19 disease or COVID-19 pneumonia, he said. 

While companies continue to test their vaccines, the medical community has already figured out how to "substantially" cut the mortality rate by simply using existing treatment methods and drugs such as remdesivir, Gottlieb said.

Why It's Important: The vaccine against the coronavirus is no different from the standard flu shot, which merely reduces the instances of severe outcomes, he said. In both cases, people who take the flu shot or vaccine can still become very  sick.

What's Next: Therapeutic options to treat the disease remain important, and by the time a vaccine is available, new medicines should also be available to "rescue people," Gottlieb said.

The likelihood of one or more vaccines, new therapeutic options and the fact that many people already contracted the disease will help people become "more confident" in their lives, he said. 

"I think we are going to continue making gains all through the fall and winter," he said. "As long as we can keep this relatively under control and the health care system doesn't get overwhelmed."

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