There has been no ‘sigh of relief’ amongst healthcare workers and government officials globally since the start of the COVID-19pandemic. Various countries, world superpowers, and many of the big corporations within them have joined the fight to not only produce an adequate amount of medical supplies to meet the high demand and combat the shortage but to also develop a vaccine to fight this deadly virus.
Johnson & Johnson is the latest company to announce a vaccine that is to enter the initial stage of human testing as soon as September.
September is five months away - which may not seem soon-enough -, but the predicted timeline for a federally approved vaccine to be distributed is early 2021. The same predicted timeline Johnson & Johnson has for the emergency use of their vaccine, if it is successful during testing.
Johnson & Johnson’s CEO and Chairman, Alex Gorsky, announced that the company has two back up vaccines incase all else fails with their most promising one during his interview on CNBC’s “Squak Box”.
Gorsky’s comment on the company pursuing the vaccine on a “not-for-profit” basis, raises the concerns on if the vaccine is approved and made available, will people be able to afford it? The question is even more pertinent as many people continue to experience salary freezes and layoffs as businesses fight to survive the COVID-19 pandemic.
The announcement of the testing for a potential vaccine sent Johnson & Johnson’s stock on an upward spiral with an 8% climb.