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Johnson & Johnson CEO Alex Gorsky announced on Tuesday that details of his Phase 3 coronavirus study will be released “soon” – while increasing the company’s profit targets for next year .
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| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| JNJ | JOHNSON & JOHNSON | 170.96 | +5.09 | + 3.07% |
The pharmaceutical giant has developed and tested Janssen’s experimental candidate vaccine COVID-19, which is in Phase 3 of its clinical trials, in an effort to help eradicate the pandemic that has already infected more than 99 million people worldwide.
“We continue to make progress on our candidate vaccine COVID-19 and look forward to sharing details of our Phase 3 study soon,” said Gorsky in the company’s fourth-quarter and full-year earnings report.
Although Gorsky did not reveal exactly when the results will be released, he expressed extreme confidence in J&J’s ability to “deliver lasting value and continuous innovation in 2021 and the years to come”.
Alex Gorsky, CEO of Johnson & Johnson (illustration by Ulrich Baumgarten via Getty Images)
JOHNSON & JOHNSON’S COVID-19 CANDIDATE AMONG THIRD EVALUATION PHASE
During the fourth quarter, the world’s largest manufacturer of healthcare 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 made a profit of 65 cents per share. Profit, adjusted for earnings and one-time costs, reached $ 1.86 per share, which also exceeded Street’s predictions. The average estimate of seven analysts surveyed by Zacks Investment Research was earnings of $ 1.81 per share.
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In September, Johnson & Johnson became the fourth company to enter the final testing phase of its candidate for coronavirus in the United States, after Moderna, Pfizer-BioNTech and AstraZeneca.
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| MRNA | MODERNA INC. | 153.79 | +6.79 | + 4.62% |
| PFE | PFIZER INC. | 37.37 | +0.10 | + 0.27% |
| BNTX | BIONTECH SE | 110.81 | +0.20 | + 0.18% |
| AZN | ASTRAZENECA PLC | 54.46 | +0.45 | + 0.83% |
The company has already signed an agreement with the U.S. government – valued at more than $ 1 billion – to develop and deliver 100 million doses of its potential vaccine.
The company plans to deliver more than a billion doses globally in 2021, provided the vaccine is safe and effective.
The Associated Press contributed to this report.