Wednesday’s business headlines

INDIANAPOLIS (WISH) – Here’s a look at Wednesday’s business headlines.

Newborns

Some states have opened college savings accounts for newborns and the early results are good.

Oklahoma’s savings account for newborns spurred a greater interest in pursuing higher education.

While the study is not completed, research published in April sows that the families given accounts were more college-focused and contributed more of their own money than those without accounts.

Pfizer

Pfizer’s experimental oral drug to treat COVID-19 at the first sign of illness could be available by the end of the year.

The CEO says the drug is part of a class of medicines call protease inhibitors and works by inhibiting an enzyme that the virus needs to replicate in human cells.

Clinical trials have to happen and be successful and the FDA has to approve it before it will be available.

Pet adoptions

Senate Democrats are pushing for stricter oversight of puppy mills amid a pandemic-fueled increase in pet adoptions.

The lawmakers are calling for bigger cages, mandated exercise and socialization for dogs that are in the care of breeders. The so-called Puppy Protection Act would also require screenings by vets before breeding.

Pet adoptions have surged during the pandemic as people spent more time at home.

Hasbro

Hasbro to raise prices on toys and games as costs surge.

The company has seen surging demand for its Nerf Blasters and board gams from families spending more time at home.

Resin, packaging and metal prices, as well as transportation costs are going up for the toymaker.