Please ensure Javascript is enabled for purposes of website accessibility

Johnson & Johnson Announces Partnership With U.S. Government to Accelerate Coronavirus Vaccine Development

By Mark Prvulovic – Updated Feb 12, 2020 at 9:38AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Both parties will be funding the R&D costs for a new vaccine.

Johnson & Johnson (JNJ 0.90%) announced on Tuesday afternoon that subsidiary Janssen Pharmaceutical will be working together with the U.S. government to expedite the development of a coronavirus vaccine. Specifically, the company will be working with the Biomedical Advanced Research and Development Authority (BARDA), which is part of the U.S. Department of Health and Human Services.

Both Janssen and BARDA will be funding the research and development (R&D) costs to develop a vaccine at an accelerated rate. Specifically, BARDA will provide funding to support phase 1 studies of Janssen's potential coronavirus candidates, with additional funding to be given once a promising candidate is identified.

Multiple coronavirus vaccine dose bottles on a surface.

Image source: Getty Images.

"We are also in discussions with other partners, that if we have a vaccine candidate with potential, we aim to make it accessible to China and other parts of the world," said Paul Stoffels, chief scientific officer for Johnson & Johnson, in an official statement.

Further details

The coronavirus, which the World Health Organization today officially designated as COVID-19, has already claimed over 1,110 lives, with 44,836 confirmed cases around the world.

Other biotech and healthcare companies have been partnering with government organizations as well. Moderna is currently working on developing an mRNA-based vaccine that it soon plans to send to the National Institutes of Health (NIH) for further clinical testing. Gilead is also working on a treatment, repurposing its former Ebola drug, remdesivir, to help treat symptoms in coronavirus patients. The drug was slated to begin human trials in China this week.

Mark Prvulovic has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Gilead Sciences. The Motley Fool recommends Johnson & Johnson. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Johnson & Johnson Stock Quote
Johnson & Johnson
$166.43 (0.90%) $1.49
Gilead Sciences, Inc. Stock Quote
Gilead Sciences, Inc.
$63.58 (1.52%) $0.95
Moderna, Inc. Stock Quote
Moderna, Inc.
$123.71 (1.21%) $1.48

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 09/28/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.