Dow 30 component Johnson & Johnson (JNJ) is a worldwide healthcare focused company that embraces research and science so that it can provide customers with innovative ideas, products, and services.
Johnson & Johnson (JNJ) announced that it has selected a lead COVID-19 vaccine candidate which expects to begin testing in humans not later than September, as per reports.
Johnson & Johnson along with Biomedical Advanced Research and Development have committed more than $1 billion to co-fund research and work on the potential vaccine expansion of a previous collaboration agreement with Janssen Pharmaceutical Cos. Janssen, a subsidiary of Johnson & Johnson. Researchers at Johnson & Johnson based in North Jersey with major operations in the Philadelphia suburbs have been working to developing a coronavirus vaccine since January.
“The world is facing an urgent public health crisis and we are committed to doing our part to make a COVID-19 vaccine available and affordable globally as quickly as possible. Johnson & Johnson is well-positioned through our combination of scientific expertise, operational scale and financial strength to bring our resources in collaboration with others to accelerate the fight against this pandemic.” stated Alex Gorsky, the company’s chairman, and CEO.
The increased funding will allow for the rapid moving of the company’s manufacturing capacity in the United States and the rest of the world. Johnson & Johnson expects the first batches of a COVID-19 vaccine to be available for emergency use authorization in early 2021. Johnson & Johnson has also identified two back-up candidates in addition to its lead vaccine candidate and is working to bring an affordable vaccine to the public on a non-profit motive for emergency pandemic use.
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