Johnson & Johnson's (JNJ) single-shot vaccine for COVID-19 will soon be available in the European Union after the health-care giant receiving authorization from the European Commission, a media report says.
Johnson & Johnson shares at last check were trading 0.8% higher at $160.46.
The New Brunswick, N.J., company on Thursday was granted conditional marketing authorization, which confirms the vaccine for use within the 27 EU member states, as well as in Norway, Iceland and Liechtenstein, Bloomberg News reported.
Distribution of the vaccine is set to begin in April, with a supply of 200 million doses projected for 2021.
The vaccine was developed by the Janssen Pharmaceutical subsidiary of Johnson & Johnson.
It has been confirmed as effective for use in preventing COVID-19 in those 18 years of age and older. Studies have determined that the vaccine provided a 67% reduction of COVID-19 symptoms and 85% effectiveness in preventing the disease,
Trials were performed in eight countries across three continents on a wide range of participants; including 34% over the age of 60 and 41% with comorbidities that can worsen the effects of COVID-19.
The Johnson & Johnson vaccine can be stored and transported at lower temperatures than the competing vaccines from Pfizer/BioNTech (PFE) (BNTX) and Moderna (MRNA) , which must be kept extremely cold. The competing vaccines also require two shots to J&J's one.
The J&J vaccine has also received emergency-use authorization from the U.S. Food and Drug Administration and interim order authorization in Canada.
At last check Pfizer shares were little changed at $34.94, BioNTech was 4.7% higher at $102.66 and Moderna was trading 7.1% higher at $138.98.