By Dhirendra Tripathi
Investing.com – Johnson & Johnson (NYSE:JNJ) shares traded in premarket trading on Thursday, after the European Union conditionally approved its Covid-19 vaccine
The bloc is seeking to speed up a stuttering inoculation campaign and boost its supplies of vaccines. It has agreed to buy 200 million doses of the J&J drug, with an option to take 200 million more. Deliveries are scheduled to start in April, although Bloomberg reported earlier this week that officials are afraid that they may be delayed due to capacity constraints.
The stock had closed nearly 1% higher Wednesday.
The COVID-19 shot is the fourth to be endorsed for use in the EU after vaccines from Pfizer (NYSE:PFE)-BioNTech (NASDAQ:BNTX), AstraZeneca (NASDAQ:AZN)-Oxford University and Moderna (NASDAQ:MRNA), and is recommended for those over 18 years of age, Reuters quoted the European Medicines agency (EMA) as saying.
Canada and Bahrain have also approved the shot. South Africa is carrying out an expedited review.
In another big positive news for Johnson & Johnson’s, President Joe Biden said he will double the U.S. order of the company’s vaccine, bringing the country’s supply to enough for 500 million people. He said the U.S. will provide vaccines to other countries after it is satisfied there is enough supply to meet contingencies.
J&J Up 0.5% As Its Single Dose Vaccine Gets EU Drugs Regulator’s Conditional Nod
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