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Johnson & Johnson CEO Alex Gorsky announced on Tuesday that details of its Phase 3 coronavirus study would be released “ soon ” – while also increasing the company’s profit targets for the year to come.
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| Teleprinter | security | Latest | Change | Change% |
|---|---|---|---|---|
| JNJ | JOHNSON & JOHNSON | 171.13 | +5.26 | + 3.17% |
The pharmaceutical giant has developed and tested Janssen’s experimental COVID-19 vaccine candidate, which is in phase 3 of its clinical trials, with the aim of helping to eradicate the pandemic that has already infected more than 99 million people worldwide .
“We continue to advance our COVID-19 vaccine candidate and look forward to sharing details of our Phase 3 study soon,” Gorsky said in the company’s fourth quarter and full year results report. .
Although Gorsky has refrained from revealing exactly when the results will be released, he expressed extreme confidence in J&J’s ability to “deliver lasting value and continued innovation in 2021 and for years to come.”
Alex Gorsky, CEO of Johnson & Johnson (Illustration by Ulrich Baumgarten via Getty Images)
JOHNSON & JOHNSON COVID-19 CANDIDATE ENTER THE THIRD PHASE OF TESTING
In the fourth quarter, the world’s largest healthcare maker reported revenue of $ 1.74 billion and revenue of $ 22.48 billion, beating Wall Street expectations. Four analysts polled by Zacks forecast $ 21.62 billion.
The company made a profit of 65 cents per share. Profit, adjusted for gains and one-time costs, was $ 1.86 per share, which also beat Street’s forecast. The average estimate of seven analysts polled by Zacks Investment Research was for earnings of $ 1.81 per share.
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In September, Johnson & Johnson became the fourth company to enter the final phase of testing its coronavirus candidate in the United States after Moderna, Pfizer-BioNTech and AstraZeneca.
| Teleprinter | security | Latest | Change | % Change |
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| RNAm | MODERNA INC. | 153.37 | +6.37 | + 4.33% |
| PFE | PFIZER INC. | 37.30 | +0.03 | + 0.08% |
| BNTX | BIONTECH SE | 109.25 | -1.36 | -1.23% |
| AZN | API ASTRAZENECA | 54.44 | +0.43 | + 0.80% |
The company has already reached an agreement with the US government – valued at more than $ 1 billion – to develop and deliver 100 million doses of its potential vaccine.
The company aims to deliver more than a billion doses globally during 2021, provided the vaccine is safe and effective.
The Associated Press contributed to this report.
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