There is no longer any identified treatment for COVID-19, which has infected more than 190,000 globally and killed more than 7,500, according to Johns Hopkins University data.
Johnson & Johnson’s work on a vaccine began in January. Stoffels said the drugmaker will probably have selected a candidate vaccine by the tip of March, setting the stage for pre-clinical to begin.
At the same time, Johnson & Johnson will be putting processes in place to allow for the widespread manufacturing of the vaccine, “in repeat to have large quantities available early next year,” Stoffels said.
Johnson & Johnson is using the same vaccine platform it most no longer too lengthy ago outdated for Ebola, Stoffels said. “So we can roam in the vaccine into an existing arrangement and that allows us to dash very fast with very lawful information,” he said.
Johnson & Johnson’s stock rose more than 7% Tuesday to $136.59.
Pfizer’s vaccine efforts
Pfizer Chief Scientific Officer Dr. Mikael Dolsten told CNBC on Tuesday the company hopes to begin human trials on a potential COVID-19 vaccine in a few weeks.
That vaccine was being developed by German agency BioNTech, which announced a partnership with Pfizer on Tuesday to now co-fabricate it and distribute it exterior of China.
“The timeline is extremely aggressive,” Dolsten said on “Vitality Lunch.” “We are legal weeks away from starting dosing.”
The companies had previously been working together on flu vaccine innovations for about two years, Dolsten said. He said Pfizer’s history as a proven vaccine leader and BioNTech’s experience on messenger RNA, or mRNA, therapeutics make them sturdy collaborators on the coronavirus response.
“I think that dietary supplements well what NIH and Moderna are doing and provides confidently patients and all American folks more suggestions and more probability that we’ll advance out profitable,” he said.
Shares of BioNTech hit an all-time excessive Tuesday following news of the Pfizer collaboration, rising 66.5% to $66.60 per share.
Pfizer’s stock also was up on the news, rising more than 6.5% to $32.16.
‘Pressing public health priority’
The construction of COVID-19 vaccine is “is an pressing public health priority,” Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said Monday in a statement regarding the Phase 1 trial in Seattle.
That trial, which Fauci said was launched in “file pace,” will test the vaccine on 45 males and non-pregnant females ages 18 to 55, according to the NIH’s internet area.
The quantity of coronavirus cases exterior of mainland China is now greater than the quantity there, the place the disease was found in late December.
There are more than 81,000 confirmed cases in China, nearly 28,000 in Italy and more than 16,000 in Iran. The U.S. has more than 5,200.
Although expectations are excessive, doctors have sought to sustain expectations low for the way mercurial a vaccine can get to market. The technique of developing, testing and reviewing potential vaccines is complex and lengthy, taking months and even years, global health consultants say.
— CNBC’sBerkeley Lovelace Jr.contributed to this document.