Distribution Began For Johnson & Johnson’s (JNJ) Newly Authorized One-Shot Coronavirus Vaccine, Leading JNJ Stock To Pop In Early Action.
Distribution Began Monday For Johnson & Johnson’s (JNJ) Newly Authorized One-Shot Coronavirus Vaccine, Leading JNJ Stock To Pop In Early Action. Over the weekend, the Food and Drug Administration authorized the coronavirus vaccine for emergency use in people ages 18 and older. The Centers for Disease Control and Prevention advisory committee also recommended the single-shot vaccine.
Both actions paved the way for drug distributor McKesson (MCK) to begin shipping the vaccine on Monday. The U.S. government selected McKesson to ship out frozen and refrigerated Covid-19 vaccines in August. It is also responsible for shipping Pfizer’s (PFE) and Moderna’s (MRNA) drugs. In morning trading on the stock market today, JNJ stock rose 1.6% near 161.
JNJ Stock Rises On Authorization
Johnson & Johnson’s Covid-19 vaccine is the third to win emergency use authorization in the U.S. It follows Pfizer’s drug, which was developed with partner BioNTech (BNTX), and that of Moderna.
The single-shot vaccine differs from two-injection regimens from Pfizer and Moderna. It uses an inactivated adenovirus to teach the immune system to identify the virus that causes Covid-19. Pfizer’s and Moderna’s vaccines use messenger RNA technology.
Further, Johnson & Johnson expects its coronavirus vaccine to be stable for two years at -4 degrees Fahrenheit. Pfizer’s, on the other hand, must be transported and stored at ultracold temperatures. It can last up to six months if stored properly. Moderna’s is stable for 30 days in a standard refrigerator.
But JNJ stock has been hamstrung on the vaccine’s effectiveness. In clinical testing, Johnson & Johnson’s vaccine was 85% effective in preventing severe and critical Covid at least 28 days after inoculation. The vaccine is 100% effective against death and hospitalization. In comparison, Pfizer’s vaccine is 95% effective and Moderna’s is 94.1% effective in blocking moderate and severe cases of Covid-19.
Deliveries Begin In U.S.
Johnson & Johnson expects to deliver 100 million single-shot vaccines to the U.S. in the first half of 2021. By the end of March, alone, the company says it plans to deliver enough supplies to inoculate more than 20 million people in the U.S. The U.S. government will manage allocation and distribution of the vaccine.
Bullishly for JNJ stock, the company also asked for emergency authorization in Europe and has filed for an emergency use listing with the World Health Organization. J&J says it also began rolling submissions for authorization in several other countries. Further, it expects to ask for a full approval in the U.S. later in 2021.
JNJ stock is currently in the 5% chase zone after topping a buy point at 155.57 out of a flat base, according to MarketSmith.com.
This news was originally published at Investors.