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Johnson & Johnson CEO Alex Gorsky announced on Tuesday that the details of the Phase 3 coronavirus study will be announced ‘soon’, while also raising profit targets for the coming year.
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| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| JNJ | JOHNSON & JOHNSON | 170.75 | +4.88 | + 2.94% |
The pharmaceutical giant has developed and tested Janssen’s experimental candidate for COVID-19 vaccine, which is in phase 3 of its clinical trials, in an effort to eradicate the pandemic that has already infected more than 99 million people worldwide.
“We continue to advance our COVID-19 vaccine candidate and look forward to sharing details from our Phase 3 study soon,” Gorsky said in the company’s fourth-quarter report and full annual report.
Although Gorsky no longer wanted to announce exactly when the results would be announced, he expressed extreme confidence in J & J’s ability to deliver ‘lasting value and continued innovation in 2021 and the years to come’.
Johnson & Johnson CEO Alex Gorsky (illustration by Ulrich Baumgarten via Getty Images)
JOHNSON & JOHNSON’S COVID-19 CANDIDATE ENTERS THIRD TRIAL PHASE
During the fourth quarter, the world’s largest manufacturer of health care products reported revenue of $ 1.74 billion and revenue of $ 22.48 billion, exceeding Wall Street expectations. Four analysts surveyed by Zacks expected $ 21.62 billion.
The company had a profit of 65 cents per share. Earnings, adjusted for one-time gains and expenses, are $ 1.86 per share, which also exceeds street forecasts. The average estimate of seven analysts surveyed by Zacks Investment Research was $ 1.81 per share.
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In September, Johnson & Johnson became the fourth company to enter the final phase of testing its coronavirus candidate in the United States after Moderna, Pfizer-BioNTech and AstraZeneca.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| MRNA | MODERNA INC. | 154.16 | +7.17 | + 4.87% |
| PFE | PFIZER INC. | 37.40 | +0.13 | + 0.34% |
| BNTX | BIONTECH SE | 111.03 | +0.42 | + 0.38% |
| AZN | ASTRAZENECA PLC | 54.43 | +0.42 | + 0.78% |
The company has already entered into an agreement with the US government – worth more than $ 1 billion – to supply and deliver 100 million doses of potential vaccine.
The company aims to deliver more than one billion doses worldwide by 2021, as long as the vaccine is safe and effective.
The Associated Press contributed to this report.