8/5/2020, 5:09 PM (Source: TeleTrader)
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US to pay J&J over $1 billion for COVID-19 vaccine

Johnson & Johnson released on Wednesday a statement that its Janssen Pharmaceutical Companies have come to an agreement with the US government to manufacture and deliver domestically 100 million doses of its COVID-19 investigational vaccine. The commitment to the agreement is worth more than $1 billion.

Paul Stoffels, MD, Vice Chairman of the Executive Committee and Chief Scientific Officer, Johnson & Johnson said in his statement: "Johnson & Johnson’s global team of experts has worked tirelessly alongside BARDA and scientific partners to pursue a SARS-CoV-2 vaccine that can help to stop the spread of COVID-19. We greatly appreciate the US government’s confidence in, and support for, our R&D platform and efforts and the scalability of our vaccine technology. We are scaling up production in the U.S. and worldwide to deliver a SARS-CoV-2 vaccine for emergency use."

Previously, the US government signed a similar agreement with Sanofi and GlaxoSmithKline and pledged $2.1 billion for COVID-19 vaccine testing and manufacturing.

Breaking the News / AM