Chief Financial Officer
“We’re still trying to determine the volumes,” he said in an interview.
J&J, which received a $456 million award from the Biomedical Advanced Research and Development Authority, will work with the U.S. and other countries and organizations to determine a “universal, global price” based on its manufacturing costs, as well as research and development expenses. BARDA is the U.S. agency responsible for developing medical countermeasures to emergencies.
Expenses will be “almost a 50-50 split” between R&D and manufacturing, Wolk said later in an interview on Bloomberg Television. What J&J will ultimately charge will depend on levels of demand from the U.S. and other countries, though it will be offered on a not-for-profit basis, Wolk said. It hired an accounting firm to audit the final price, he said.
J&J leadership assured investors on an earnings call Thursday that the New Brunswick, New Jersey-based company had emerged from the worst of the pandemic and raised the financial forecast for the year. Shares declined 0.4% to $147.68 at 12:17 p.m. in New York.
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J&J announced in June that it had accelerated vaccine trials with ambitions of launching human studies in mid-July. Wolk said on Thursday that J&J will dose its first patients on July 22 in Belgium, and in the U.S. a week later.
The phase one trial seeks to enroll more than 1,000 healthy adults aged 18 and 55 and 65 and older, Chief Scientific Officer
J&J is in discussions with the
Stoffels said the company could have data “before the year-end or at the latest, early next year.” Though it may manufacture some doses before year-end, those will primarily be used for clinical trials, he said.
“We have the manufacturing sites, we have the filling side, we have everything that’s needed to deliver that 1 billion vaccines and more next year,” Stoffels said.
(Updates with earnings in sixth paragraph, more trial details in eighth)
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