Johnson & Johnson CEO Alex Gorsky on Tuesday discussed the unparalleled partnership with rival Merck to increase production of his Covid-19 vaccine.
“Extraordinary times require extraordinary efforts,” Gorsky told CNBC’s Jim Cramer in a ‘Mad Money’ interview.
“What this means is that Americans are going to shoot in the arm faster, and we are very excited about the potential impact this could have on the situation in general,” Gorsky said. “I think it’s another … proof of the potential that this vaccine really has.”
Vaccinations against Coronavirus are considered critical to help the country and the world achieve herd immunity. This will enable the US to reopen safely after a year of lockdown and restrictions weighing on the economy.
J & J’s vaccine was 66% effective in preventing Covid during clinical trials. It is also 86% effective in preventing serious diseases, and it has prevented 100% of virus-related hospitalizations and deaths, Gorsky said on CNBC on Monday. The vaccines from Moderna and Pfizer – which worked with BioNTech to develop their vaccination – appear to be 95% effective against the virus.
Merck is offering two U.S. facilities to assist J & J’s vaccine production as part of the agreement.
“The real war here is against Covid-19, and I could not think of a better partner than Merck, a company with an incredibly strong reputation,” Gorsky said of his rival. “We think it will contribute significantly to our capabilities both in the long run and in the long run.”
The comments come after President Joe Biden said on Tuesday that the U.S. would have enough vaccines by the end of May to vaccinate everyone in the U.S. This is two months before the government’s initial target.
The FDA cleared emergency C&V vaccine for J&J over the weekend. After the company gave permission to regulators, Gorsky said J&J had signed a production agreement with Merck and the federal government to speed up the production of bottles.
About 4 million doses of the J&J vaccine are expected to be delivered in the US this week, and another 16 million doses are expected to be available by the end of March.
The partnership follows one made between two other drugmakers earlier this year. French drugmaker Sanofi said in January it would help increase supply of Pfizer’s two-shot vaccine. Moderna also has an agreement with the Swiss company Lonza to help make its own two-stroke vaccine.