Johnson and Johnson (NYSE:JNJ) Signs Advance Purchase Agreement With The European Commission For Its COVID-19 Vaccine

Johnson and Johnson (NYSE:JNJ) has announced that the European Commission has approved a supply agreement on behalf of EU members states for the supply of 400 million doses of COVID-19 vaccine.

EC to purchase 400 million doses of JNJ’s vaccine

According to the Advance Purchase Agreement, EU member states will purchase 200 million doses of COVID-19 vaccine from Janssen Pharmaceutical once the vaccine receives approval from regulators. Also, the member states will have the option of securing an additional 200 million doses of the vaccine. The company is currently developing and trying the investigational vaccine from its subsidiary in phase 3 clinical studies.

Paul Stoffels, the chief scientific officer and vice chairman of Johnson and Johnson’s executive committee, said that the pandemic has continued to threaten communities across the globe. As a result, the company is dedicated to delivering a potential vaccine candidate as soon as possible. Stoffels appreciated the move by the EC and Member States in supporting the company’s COVID-19 vaccine candidate as well as development efforts by making the advance order.

The contract comes after the conclusion of Johnson and Johnson’s exploratory discussions with the European Commission. The company is also engaging other stakeholders that include global organizations and national government in its commitment to avail the vaccine as accessible as possible across the globe. If the vaccine shows a favorable safety and efficacy profile, then it will receive approval from regulators.

JNJ to give 500 million doses of vaccine to low-income countries

Johnson and Johnson have committed to ensuring global access to the vaccine, especially form low-income counties. As part of the plans, the company has allocated around 500 million vaccines to lower-income areas, and delivery will commence mid-next year after approval from regulators. The company acknowledges the demand for vaccines globally, and they look forward to expanding the number of doses available.

The company’s COVID-19 vaccine candidate leverages the AdVac® Technology from Janssen, which was previously used in developing the Ebola vaccines and is also the basis for RSV, HIV, and Zika vaccines.