Johnson & Johnson (NYSE:JNJ) is planning to commence trial production of the COVID-19 vaccine at its facility based in the Netherlands. It is also updating the facility in the US for the production of coronavirus vaccines. The company can produce vaccines under the manufacturing at risk clause before finalizing the design and released for use by the general public. Coronavirus cases across the world have reached 1.98 million.
Expects to produce COVID-19 vaccines on large scale
Joe Wolk, Chief Finance Officer of Johnson & Johnson said the company expects to produce the vaccines on a large scale to help people worldwide if the clinical trials are successful. The company commenced the development of vaccines for coronavirus in January 2020 through its subsidiary Janssen Vaccines & Prevention B.V., which is located in Europe. Janssen is using the same biological platform, which is used for the development of vaccines for Influenza, Zika, and Ebola. The company has vaccinated over 50,000 people using the vaccines developed using this platform.
In discussions with partners in Asia and Europe to produce a vaccine
Paul Stoffels, Chief Scientific Officer of Johnson & Johnson during an earnings call in Q1 said the company is in discussions with the partners in Asia and Europe to manufacture the COVD-19 vaccine. The company plans to supply 1 billion doses of the vaccine worldwide.
Enters a pact with BARDA to develop and produce vaccine
Johnson & Johnson has signed a $1 billion pact with the US Department of Health and Human Services to develop and produce the vaccine. Joe said the company will conduct clinical trials on humans in September 2020. The company will get the required data in December and expect to get the nod for commercialization in early January 2021. Paul said the company will commence the emergency use of the vaccine early next year. Though risks persist, Johnson & Johnson is confident of the effectiveness of the vaccine considering the data obtained from animal models.
According to WHO, seventy vaccines for coronavirus are under development. The companies engaged in the development of the vaccine are trying to reduce the time to market. Three potential candidates are already undergoing human clinical trials.