With the company determined to meet its COVID-19 vaccine delivery targets, pharmaceutical giant Johnson & Johnson has revealed that it is expected to report some much-anticipated data on its vaccine early next week.
Eager to fulfill the obligations of its already-signed agreements, Johnson & Johnson’s shares rose by around 3.4% to $171.55. This was largely the result of public health officials placing more reliance on single-dose vaccine options such as Johnson & Johnson’s due to the slow rollouts of vaccines from the likes of Moderna Inc and Pfizer Inc.
Chief Financial Officer Joseph Wolk revealed that the pricing of the healthcare conglomerate’s vaccine would largely depend on the number of doses ordered by each country.
During a conference call, Wolk continued to explain, “We will let the science play out. Once we have the data, obtain regulatory authorization, and finalize agreements to supply, we will provide financial updates as warranted.”
Johnson & Johnson will be hoping to make a strong recovery following its underwhelming fourth-quarter sales results. With the COVID-19 pandemic severely decreasing the demand for elective and non-urgent procedures, the New Jersey-based health corporation’s sales revenue for the quarter slipped to $6.59 billion.
