PFE - Johnson & Johnson Taps Emergent BioSolutions to Help Manufacture Its COVID-19 Vaccine
Johnson & Johnson (NYSE: JNJ) signed a contract to pay Emergent BioSolutions (NYSE: EBS) $135 million to help manufacture its vaccine to treat COVID-19, the disease caused by the novel coronavirus.
In addition to developing its own drugs aimed at combating bioterrorism and emerging infectious diseases, including COVID-19, Emergent BioSolutions has a contract manufacturing division that makes drugs for other companies. Last month, the company announced that it was working with Novavax to develop its COVID-19 vaccine.
Johnson & Johnson's vaccine hasn't even entered clinical trials: The study is scheduled to start in September with initial supply for the phase 1 clinical trial to come from Johnson & Johnson's manufacturing facility in Leiden, the Netherlands.