Johnson & Johnson pledges to produce over 500m COVID-19 vaccines by 2021


Pharmaceutical giant, Johnson & Johnson has announced that it has begun efforts to produce over than half a billion Covid-19 vaccines by 2021.
Chief financial officer for the company, Joe Wolk on Tuesday said it expects the US government to approve the drug and it plans to start testing in humans this September.

He adds that once approved, it will available 600 million to 800 million vaccines by next year.

“The timeline still is pretty certain,” Wolk told Yahoo Finance in an interview.

“We’re manufacturing at risk to ensure that should the clinical development and the trials be successful, we are in a position to kind of flip the switch and ready to go to create great access across the globe.”

He adds that the company aims to ramp up production to 1 billion doses annually by the end of next year.

J&J and the federal Biomedical Advanced Research and Development Authority announced a $1 billion investment last month to help achieve that goal.

The pharmaceutical giant also plans to set up a new manufacturing facility in the US to supplement the company’s plant in the Netherlands that can produce up to 300 million doses.

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