Johnson & Johnson has received an Emergency Use Authorization for its vaccine in the United States, offering single-dose benefits and standard storage requirements.
Johnson & Johnson (JNJ) received FDA clearance on Saturday for emergency use of its COVID-19 vaccine in the country.
Johnson & Johnson, which has gained nearly 14% in the past 12 months, surged 3.52% before trading opened on Monday.
J&J previously said it plans to deliver 20 million doses of its vaccine by the end of March from a government contract to supply 100 million doses by the end of June.
Although Pfizer (PFE) and BioNTech (BNTX), as well as Moderna (MRNA), have outpaced J&J in starting supplies of vaccines against coronavirus, the J&J vaccine has an advantage over them, as it creates high immunity against coronavirus with a single injection, without requiring re-vaccination.
J&J vaccine does not require special storage conditions and can be stored at 2.2 ℃ – 7.8 ℃, unlike Pfizer and BioNTech vaccines, which require very low temperatures.
The protection rate of J&J vaccine varied by region, with an average efficacy of 66%, with 72% efficacy among those tested in the US, 66% in Latin America, and 57% in South Africa. However, after about a month, the vaccine’s effectiveness in South Africa had grown to 64%.
According to a J&J press release, its vaccine has proven effective against a new, more infectious strain of the SARS-CoV-2 B.1.351 coronavirus spread in South Africa.
Pfizer and Moderna vaccines were 95% and 94% effective, respectively, but the data did not include testing for new strains of coronavirus. These companies are currently conducting additional research.
The J&J vaccine prevented 100% of hospitalizations and deaths among 43,783 test participants aged 18 and over, and met the FDA’s minimum vaccine requirement of 50%, the company said.
Johnson & Johnson executives previously said the company would not make money from vaccines during the pandemic, but would be provided “on a non-profit basis for emergency use.”
J&J could profit from COVID-19 vaccines if such vaccinations are included in the calendar of annual mandatory vaccinations in the United States and other countries.