Johnson & Johnson News: JNJ Stock jumps 8% on Coronavirus Vaccine Hopes

<p>Johnson & Johnson (NYSE: JNJ) news for Monday includes efforts to create a vaccine to treat coronavirus from China that increases JNJ stocks.

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A Johnson & Johnson press release reveals that the company plans to proceed with testing of a possible coronavirus vaccine. It expects this testing to begin as early as September. If so, it may make it possible to have the vaccine ready for general distribution early next year.

According to Johnson & Johnson’s press release, this is a fast pace for vaccine development. Its commitment to manufacturing the vaccine could lead it to develop more than 1 billion doses to be used around the world.

Johnson & Johnson states that they are working with the coronavirus vaccine with the help of the Biomedical Advanced Research and Development Authority. It also provides over $ 1 billion in funding together with the U.S. Department of Health and Human Services for the development of the vaccine.

Paul Stoffels, MD, Vice Chairman of the Executive Committee and Chief Scientific Officer at Johnson & Johnson, said this about the JNJ stock.

“We are very pleased to have identified a leading vaccine candidate from the designs we have been working on since January. We are moving towards an accelerated timeline towards phase 1 clinical trials in humans by September 2020, and with the support of the global production capacity that we will scale up in parallel with this testing, we expect a vaccine to be ready for emergency use early 2021. ”

The JNJ share rose by 7.83% as of Monday afternoon.

At the time of writing, William White had no position in any of the above securities.