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J&J aims to produce a billion COVID-19 vaccine doses every year

J&J aims to produce a billion COVID-19 vaccine doses every year

Monday 31, 08 2020
Johnson & Johnson's stock price increased by USD 7.83 (equivalent to 5.56%), reaching USD 146 during and after the session on 14 April thanks to the good news.

The stock price of Johnson & Johnson increased nearly 6% in the trading session on the evening of April 14 after its Management Board announced that they would produce up to 900 million COVID-19 vaccine doses if the human trials go well in September as expected.

Nearly a billion vaccine doses will be produced

On April 14, Johnson & Johnson announced to its investors that the group would produce 600-900 million Covid-19 vaccine doses by the end of the first quarter of 2021 if the human trials scheduled in September go well as planned.

The company's goal is to produce one billion vaccine doses per year. Previously, Johnson & Johnson had excited investors with the decision to raise dividends in the first quarter of this year, and published the first quarter financial report with results exceeding all Wall Street analysts' expectations.

Johnson & Johnson's stock price increased by USD 7.83 (equivalent to 5.56%), reaching USD 146 during and after the session on 14 April thanks to the good news. Even so, Johnson & Johnson also lowered its growth forecast for 2020 due to the COVID-19 pandemic. The Group predicted a dividend of USD 7.5-7.9 per share, which is a decrease from the previous figure of USD 8.95-9.10 per share.

At the end of last month, Johnson & Johnson announced that testing of its COVID-19 vaccine on humans would begin in September and could serve emergencies in the beginning of 2021.

The group’s Management Board committed to donate over a billion dollars to partner with the Biomedical Advanced Research and Development Authority, a division of the US Department of Health and Human Services, in the research of the COVID-19 vaccine.

​On April 14, Mr. Alex Gorsky, CEO of Johnson & Johnson, affirmed that the corporation will provide vaccines to US health officials on a non-profit basis.

About Johnson & Johnson

Perhaps everyone knows Johnson & Johnson through the iconic product used by mothers around the world - Johnson Baby Powder baby powder. But the 133-year-old brand is more than that.

Over a century of development, Johnson & Johnson (also known as J&J) has become a global healthcare corporation with a huge scale. In 1885, at the Philadelphia Centennial Exhibition's Medical Congress, a doctor named Sir Joseph Lister gave a lecture on aseptic surgery.

Although doctors and experts within the industry thought that this was unnecessary, Robert Wood Johnson, was immediately convinced and inspired to establish his own company specializing in that aseptic surgical research.

J&J aims to produce a billion COVID-19 vaccine doses every year

A year later, Robert Wood Johnson and his two brothers James Wood Johnson and Edward Mead Johnson founded the health care company Johnson & Johnson in New Brunswick, New Jersey, USA. In 1887, sterile sutures (made of catgut or silk), surgical dressings, cotton and gauze were invented and mass produced by Johnson & Johnson, opening the beginning of modern surgery.

The birth of these medical devices was also considered a revolution for the whole medical industry as previously, a doctor who wanted to practice aseptic surgery would need to create and sterilize all of their gauze, sutures and bandages.

This made aseptic surgery inconvenient and was not commonly performed. The company's invention has made aseptic surgery safer and more popular, so the survival rate of patients has increased sharply.

Industry insiders must also acknowledge that Johnson & Johnson's market entry has helped modern medicine take a long and much faster step. Johnson & Johnson products are more than just sterile sutures, surgical dressings or cotton.

The company operates on 3 business segments, including healthcare, medical devices and pharmaceuticals. Products from J&J are so popular that it is almost impossible to go to any pharmacy without finding products belonging to this brand.

From a 14-person company, after many mergers and acquisitions deals, Johnson & Johnson currently has more than 250 subsidiaries, operating in 60 countries. Despite over 130 years of economic fluctuations and expansion of scale and products, Johnson & Johnson has maintained a good business and its leading position in healthcare industry.

The group currently has a net worth of about USD 367 billion (September 2018). In fiscal 2017, Johnson & Johnson reported an income of USD 15.3 billion, with an annual turnover of USD 81.6 billion, an increase of 6.7% from the previous year. On the stock exchange, each stock is traded above USD 126. For most updated and detailed information about as well as in-depth analysis on this company, please contact us via [email protected].

Compiled by VietnamCredit

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