Shares for Johnson & Johnson shot up over $4/share upon the announcement that they will begin human testing on a new experimental vaccination for coronavirus in early 2021.
CNBC reports Johnson & Johnson also said it had committed more than $1 billion of investment in partnership with the federal Biomedical Advanced Research and Development Authority, which is part of the Department of Health and Human Services, to co-fund vaccine research.
“We’re very excited about the announcement we’re making. Really, this happened decades ago.” Johnson & Johnson CEO Gorsky told the CNBC reporter. “We’ve been working in the immunology field for some time. We’ve been working in areas like for example, SARS, Ebola, and HIV. And I think what gives us a lot of confidence, is based upon the work that we’ve done with the coronavirus platform, we have very good indicators that not only can we depend on this to be a safe vaccine base, but also one that will ultimately be effective, based on all the early testing and modeling that we’ve been doing,” he added.
Gorsky said that by early 2021, they expect to have literally had hundreds of millions of doses available, and by the end of the year, a billion doses should be available. The Johnson & Johnson CEO said they plan to open a production facility in the United States and that’s he’s optimistic that a safe and effective vaccine will be available to the public by early 2021.
J & J’s lead vaccine candidate will enter a phase 1 human clinical study by September, the company said, and clinical data on its effects is expected before the end of the year. If the vaccine works well, the company said it could be available for emergency use in early 2021.
Just another evil corporation…doing their part to save the lives of tens of millions…