A leading-edge research firm focused on digital transformation.
On Wednesday, Johnson & Johnson announced it will provide 100 million doses of its coronavirus vaccine to the US to use once if the vaccine gets emergency approval. The agreement also allows for another order of 200 million doses at a future point.
The Biomedical Advanced Research and Development Authority, as part of the U.S. Department of Health and Human Services, along with the US Department of Defense have pledged more than $1 billion toward this agreement.
This comes after the US government granted J&J $456 million to develop its vaccine, CNBC reports.
Never miss out on healthcare news. Subscribe to Dispensed, Business Insider’s daily newsletter on pharma, biotech, and healthcare.
“We greatly appreciate the US government’s confidence in, and support for, our R&D platform and efforts and the scalability of our vaccine technology,” said Chief Scientific Officer Dr. Paul Stoffels in a statement.
The vaccine will be sold at a not-for-profit price across the world, although healthcare professionals could charge to administer doses. J&J plans to distribute the vaccine globally by the end of 2021.
Read more: There are more than 160 research programs hunting for a coronavirus vaccine. Here’s how the top drugmakers see the race for a cure playing out and when the first shots might be available.
While the company has already started human trials in the US and Belgium, the vaccine has not yet been approved for wide-scale use. The company is currently testing both one and two-dose vaccines.
J&J is not the only company trying to have a vaccine hit the market this year for emergency use. AstraZeneca, Pfizer, and Moderna are all aiming for fall approval.
Get the latest coronavirus business & economic impact analysis from Business Insider Intelligence on how COVID-19 is affecting industries.