Johnson & Johnson (NYSE:JNJ) will report important clinical results of the coronavirus vaccine in the week starting February 1, 2021. The company expects to provide 100 million doses of the vaccine to the US population if the results are promising and receive authorization.
Pharmaceuticals boost growth
Pharmaceuticals business promoted the growth of Johnson & Johnson. Its other sectors are sluggish because of the impact of coronavirus. The company posted better than expected results in Q4.
Coronavirus drags medical devices business
According to a communiqué from Johnson & Johnson, its medical device sales plummeted because people postponed their elective procedures owing to coronavirus pandemic. However, consumer health products contributed to the growth in Q4 to reach $22.48 billion.
CEO and Chairman of Johnson & Johnson, Alex Gorsky said he is optimistic that the company will report positive results of the clinical trials of the COVID-19 vaccine conducted on 45,000 people.
During a chat with the analysts, he cited the positive results obtained from an early stage and smaller study. The company hopes that it will act as a precursor to the same kind of safety and efficacy in a larger population. Emergency approval from the US FDA allows the company to improve vaccine availability.
Shots can be stored at normal refrigerator temperatures
Joseph Wolk, CFO said the federal government can buy additional vaccines after the initial lot of 100 million. One of the salient features of the Johnson & Johnson vaccine is that it can be stored at a standard temperature in a refrigerator.
Other vaccines from companies such as BioNTech SE and Pfizer Inc and Moderna Inc require to be frozen before usage. Wolk said the company wants to be part of a group that can store vaccines at normal refrigerator temperatures.
Vaccine rollout is sluggish in the US
Vaccine roll is very slow in the US because of supply constraints and technical challenges. Health officials and manufacturers are racing to expedite the distribution of shots nationwide.
Merck & Co discontinues Covid-19 vaccine development
After disappointing results from clinical trials, Merck & Co decided to discontinue the development of its vaccine against coronavirus.
The imminent study results from Johnson & Johnson provides clues about the performance of vaccine against the new coronavirus variants.