Johnson & Johnson (NYSE:JNJ) said Monday human testing of its experimental vaccine for the coronavirus would begin by September and that it could be available for emergency use authorization in early 2021.
J&J, based out of New Brunswick, New Jersey, also said it has committed more than $1 billion of investment along with U.S. agency Biomedical Advanced Research and Development Authority (BARDA), which is part of the Department of Health and Human Services, to co-fund vaccine research.
J&J’s lead vaccine candidate will enter a phase 1 human clinical study by September 2020, the company said, and clinical data on its effects is expected before the end of the year. If the candidate works well, the company said it could be available for emergency use in early 2021.
As part of its commitment, Johnson & Johnson is also expanding the Company's global manufacturing capacity, including through the establishment of new U.S. vaccine manufacturing capabilities and scaling up capacity in other countries.
The additional capacity will assist in the rapid production of a vaccine and will enable the supply of more than one billion doses of a safe and effective vaccine globally. The Company plans to begin production at risk imminently and is committed to bringing an affordable vaccine to the public on a not-for-profit basis for emergency pandemic use.
Said CEO Alex Gorsky, "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."
JNJ shares leaped $4.56, or 3.7%, to $127.72
