The main Fox Business Flash headlines are here. See what clicks on FoxBusiness.com.
Johnson & Johnson CEO Alex Gorsky announced on Tuesday that details of his phase 3 coronavirus study will be released “ soon ” – while also raising the company’s profit targets for the coming year.
CLICK HERE TO READ MORE ABOUT FOX BUSINESS
| Ticker | Safety | Last | Change | Change% |
|---|---|---|---|---|
| JNJ | JOHNSON & JOHNSON | 170.96 | +5.09 | + 3.07% |
The pharmaceutical giant has developed and tested Janssen’s experimental COVID-19 vaccine candidate, which is in phase 3 of its clinical trials, in an effort to eradicate the pandemic that has already infected more than 99 million people worldwide.
“We will continue to develop our COVID-19 vaccine candidate and look forward to sharing details of our Phase 3 trial soon,” Gorsky said in the company’s fourth quarter and full year earnings report.
While Gorsky stopped disclosing exactly when the results will be released, he expressed extreme confidence in J & J’s ability to “deliver lasting value and continuous innovation in 2021 and years to come.”
Alex Gorsky, CEO of Johnson & Johnson (illustration by Ulrich Baumgarten via Getty Images)
JOHNSON & JOHNSON’S COVID-19 CANDIDATE ENTERS THIRD TRIAL
During the fourth quarter, the world’s largest health product manufacturer reported revenues of $ 1.74 billion and sales of $ 22.48 billion, exceeding Wall Street’s expectations. Four analysts polled by Zacks expected $ 21.62 billion.
The company had a profit of 65 cents per share. Earnings, adjusted for one-time gains and expenses, were $ 1.86 per share, which also exceeded Street forecasts. The average estimate of seven analysts polled by Zacks Investment Research was for earnings of $ 1.81 per share.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
In September, Johnson & Johnson became the fourth company to enter the final stages of testing its coronavirus candidate in the United States after Moderna, Pfizer-BioNTech and AstraZeneca.
| Ticker | Safety | Last | Change | Change% |
|---|---|---|---|---|
| MRNA | MODERNA INC. | 153.79 | +6.79 | + 4.62% |
| PFE | PFIZER INC. | 37.37 | +0.10 | + 0.27% |
| BNTX | BIONTECH SE | 110.81 | +0.20 | + 0.18% |
| AZN | ASTRAZENECA PLC | 54.46 | +0.45 | + 0.83% |
The company has already signed an agreement with the US government – worth more than $ 1 billion – to develop and deliver 100 million doses of its potential vaccine.
The company aims to deliver more than a billion doses worldwide by 2021, as long as the vaccine is safe and effective.
The Associated Press contributed to this report.