Johnson & Johnson (NYSE: JNJ) solely has a number of million doses of its COVID-19 vaccine in its stock although regulatory authorization may simply be weeks away, Reuters reported Wednesday.
What Occurred: The revelation relating to the vaccine inventory was made by Jeffrey Zients, the Biden administration’s COVID-19 response coordinator, in response to Reuters.
The New Jersey-based drug multinational is reportedly dedicated to offering 100 million doses by June however deliveries are prone to be “back-end loaded,” as per Zients.
“Throughout the previous few weeks we’ve discovered that there’s not an enormous stock of Johnson and Johnson. There’s a number of million doses that we’ll begin with,” stated Zients.
Why It Issues: The Meals and Drug Administration has scheduled a gathering of the Vaccines and Associated Organic Merchandise Advisory Committee on Feb. 26 to debate the COVID-19 vaccine made by Johnson & Johnson subsidiary Janssen Biotech Inc.
The Janssen vaccine may be administered in a single dose not like vaccines made by Pfizer Inc (NYSE: PFE) and Moderna Inc (NASDAQ: MRNA), each of which have already acquired emergency approval.
Janssen’s shot additionally eliminates the necessity for ultracold storage, which is required for the opposite two accredited vaccines.
The USA faces a vaccine crunch as each Pfizer and Moderna have promised to ship 200 million doses by the top of March, however fewer than 72 million doses have been shipped and 55 million doses administered, famous Reuters.
Value Motion: Johnson and Johnson shares closed almost 0.4% increased at $165.66 on Wednesday and gained 0.13% within the after-hours session.
© 2021 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.