Johnson & Johnson CEO Alex Gorsky on Tuesday discussed the company’s unprecedented partnership with rival Merck to increase production of its 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 will be shot in the arm faster and we are very excited about the potential impact this could have on the overall situation,” said Gorsky. “I think it’s another … proof of the potential that this vaccine really has.”
Coronavirus vaccines are considered essential to help the country and the world achieve collective immunity. This would allow the United States to reopen fully safely after a year of blockages and restrictions that have weighed on the economy.
The J&J vaccine was 66% effective in preventing Covid during clinical trials. It is also 86% effective in preventing serious illnesses and has prevented 100% of hospitalizations and deaths related to viruses, Gorsky told CNBC on Monday. The vaccines from Moderna and Pfizer – which worked with BioNTech to develop their inoculation – have been shown to be 95% effective in protecting against the virus.
Merck will offer two facilities in the U.S. to assist in the production of the J&J vaccine as part of the agreement.
“The real war here is against Covid-19, and I can’t think of a better partner than Merck, a company with an incredibly strong reputation,” said Gorsky of his competitor who became a partner. “We believe that this will considerably increase our capabilities, both in the short and long term.”
The comments came after President Joe Biden said on Tuesday that the United States will have enough vaccines to inoculate everyone in the United States by the end of May. This is two months ahead of the government’s initial target.
The FDA released J&J’s Covid single dose vaccine for emergency use over the weekend. After the company received authorization from regulators, Gorsky said that J&J signed a production agreement with Merck and the federal government to speed up bottle manufacturing.
About 4 million doses of the J&J vaccine are expected to be delivered to the United States 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 pharmaceutical companies earlier this year. French drugmaker Sanofi said in January that it would help increase the supply of Pfizer’s dual vaccine. Moderna also has an agreement with the Swiss company Lonza to assist in the manufacture of its own two-vaccine vaccine.