US Signs $1 Billion Vaccine Deal With Johnson & Johnson
Mohammad Ali (@ChaudhryMAli88) Published August 06, 2020 | 12:10 AM
Washington, Aug 5 (UrduPoint / Pakistan Point News - 5th Aug, 2020 ) :The US government Wednesday announced a new $1 billion investment in a COVID-19 vaccine being developed by Johnson & Johnson, guaranteeing 100 million doses.
J&J, via its subsidiary Janssen, had already received $456 million in March.
The new money will allow the company to ramp up production so that doses are ready for shipping if and when the drug receives regulatory approval.
The government also has the option to acquire additional doses sufficient to vaccinate 300 million people.
With the latest deal, President Donald Trump's administration has spent $9.4 billion on vaccine agreements, with five companies agreeing to provide at least 700 million doses, according to an AFP tally.
These deals, under Operation Warp Speed, foresee launching production in parallel with clinical trials, with the government taking the financial risk away from the private sector.
Moderna's vaccine is one of three Western efforts in final stage human trials.
Top infectious disease official Anthony Fauci said Wednesday he was "cautiously optimistic" of success and that "somewhere towards the end of the year, the beginning of 2021, we will know whether they have a safe and effective vaccine." The US has also spent billions on building manufacturing sites, on companies that make syringes and vials, and on the development of treatments.
Washington has bought up almost all stocks of the antiviral drug remdesivir that will be produced until September. The medicine is the first treatment with proven benefit against COVID-19.
Also Wednesday, Canada signed an agreement for undisclosed financial terms with Pfizer Canada and BioNTech SE for 100 million doses of their experimental vaccine in 2020, and more than one billion in 2021, under Project Lightspeed.
Related Topics
Recent Stories
Russian military jet crashes into sea off Crimea: Governor
Rain-windstorm/thunderstorm likely at various parts of country
Russian shelling kills three in Ukraine, officials say
China's competitive car market at heart of global EV revolution
Food minster for ensuring transparent distribution of Bardana
Russia says has evidence Moscow attackers were linked to Kyiv
PM chairs review meeting on stoppage of electricity theft
IPM survey proves biocontrol technology profitable for cotton farmers
Pandemic accord talks heading for extra time
Senate elections in KP hang on reserve seat oath-taking, states ECP
UK's biggest water supplier plunges into deeper financial crisis
DG SEPA for installation of waste water treatment facilities
More Stories From Miscellaneous
-
Shaheed Jalil Andrabi remembered on his martyrdom anniversary
1 day ago -
Architectural grandeur of Mohabat Khan Mosque attracts visitors, archeology lovers
1 day ago -
Besant Hall cultural centre to hold programme in memory Pir Hassam din Rashdi
3 days ago -
USA beats Mexico 2-0 for CONCACAF Nations League title
4 days ago -
World urged to intervene for peace in Kashmir
4 days ago -
Undeterred resolve – only way to end economic woes
4 days ago
-
Organic Food: A booming trend in Khyber Pakhtunkhwa
5 days ago -
From Soil to Harvest: Use of modern technology vital for agricultural renaissance
5 days ago -
Spring season offers glimpse into GB's natural beauty, cultural heritage
5 days ago -
Nation to mark decades’ long journey of resilience through annals of history
6 days ago -
23rd March: A historic day reminds Muslims’ heroic struggle for Pakistan
7 days ago -
Measures urged to recharge depleting water table: Experts
7 days ago