Johnson & Johnson announces human trials for a coronavirus vaccine
Massive American corporation Johnson & Johnson announced this week that they would begin human trials of a vaccine for the novel coronavirus this fall. While they’re not the first to do it, they’re certainly the biggest.
And, they’ve secured $450M USD in funding from the US Government to achieve their goal. According to a press release from the company, the goal of this is to properly fund vaccine research, development, and clinical testing. And while $450M is a lot, the total amount pledged is currently sitting at $1B. Guess one of the world’s most valuable companies doesn’t mess around.
J&J CEO Alex Gorsky says he’s “very excited” as the company announces developments on its coronavirus vaccine. “This is a bit of a moonshot for J&J going forward, but it’s one that we feel is very important for us to be doing.” https://t.co/FClKl7SOqL pic.twitter.com/XeiAigmBLP
— CNBC (@CNBC) March 30, 2020
Now, here’s the interesting part. Basically, the announcement means that Johnson & Johnson is risking a significant amount of money to more or less bet on the vaccine. It’s an educated bet, no doubt, but desperate times call for desperate measures.
If successful, the proposed vaccine could be ready as early as 2021. Fingers crossed, and you can read the press release in full right here.