As coronavirus cases once again surge across the globe, we hope you and your family stay safe and healthy. The COVID-19 outbreak was declared a pandemic by the World Health Organization on March 11, 2020. The pandemic dramatically changed our world, resulting in one of the most challenging years we have all endured.

Next year, we should return to a more normal world thanks to Operation Warp Speed. Pfizer (PFE) and Moderna (MRNA) recently report-ed their innovative vaccines were more than 90% effective in preventing COVID-19. These vaccines may become available soon and will require multiple doses to be effective.

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Many other healthcare firms, including Johnson & Johnson (JNJ) and Regeneron (REGN), are working on other promising vaccines and treatments that will help the global economy return to growth in 2021. Throughout the pandemic, UnitedHealth Group (UNH) has leveraged its clinical knowledge, expertise, and resources in the fight against COVID-19. UnitedHealth Group has developed new types of testing and actively collaborated with partners, like Johnson & Johnson, to support the advancement of potential vaccines and treatments.

Stryker (SYK) has increased the production of its products that can help people during this crisis. These include hygiene, disinfecting, and surgical protection products, as well as hospital beds, stretchers, and defibrillators. 3M (MMM) rapidly ramped up global manufacturing on a massive scale to provide respirators and surgical masks. Fastenal (FAST) quickly secured personal protective equipment (PPE) to widely distribute to customers.

Billions of doses of vaccines will be needed to inoculate the world, which is the next herculean task in putting the pandemic be-hind us. Like all vaccines, COVID-19 vaccines will need to be temperature and time-sensitive. They will need carefully controlled cold storage, some at temperature ranges between -80 and -20 degrees Celsius. Cold chain and storage cooler capacity will need scaling to handle the new vaccines. UPS (UPS) will be a leader in helping to handle these complex logistics to ensure delivery of the vaccines around the world.

Walgreens Boots Alliance (WBA) will be working with the Center for Disease Control (CDC) and the U.S. Department of Health and Human Services (HHS) as part of Operation Warp Speed to help administer COVID-19 vaccines to high priority groups, including long-term care facility residents and staff. Maximus Public Health group (MMS) is supporting governments in the purchasing, distribution, and administration of vaccines.

Ensuring access to COVID-19 vaccines, once approved and available, will be critical to saving lives and helping the world recover from the pandemic. It is also important to remember that the day the vaccine is officially released to the public is not the day that the pandemic is over. It is simply the first day of the end-stage of the pandemic. A return to a more normal world will occur once the majority of the general public has been vaccinated, which will likely take until at least mid-2021.

Corporate profits in 2021 should rebound sharply from depressed levels in 2020. Optimism over an effective COVID-19 vaccine and a return to a more normal world sparked a remarkable stock market rally since the March lows. As a result, most of our high-quality stocks currently appear fairly to fully valued. We will remain patient and disciplined in investing for a brighter future.