Johnson & Johnson (NYSE:JNJ) has announced its one-shot COVID-19 vaccine has been approved by the US Food and Drug Administration.
Developed by the Belgian arm Janssen, it is now available for individuals 18 years of age and older after it was shown to be 85% effective in late-stage clinical trials.
READ: What sets Johnson & Johnson’s vaccine apart from those already in circulation
The terms of the Emergency Use Authorisation allow the government to roll it out while more data is gathered to issue a full approval, accelerating the immunisation programme.
The company has begun shipping its COVID-19 vaccine and expects to deliver 20mln doses to the US by the end of the month, rising to 100mln during the first half of 2021.
It is awaiting approval from the European Medicines Agency and the World Health Organisation.
J&J is also planning to test the inoculation on babies and pregnant women, The New York Times reported.
The formulation is developed Janssen’s AdVac technology, which uses a genetically modified version of the common cold virus (adenovirus) so it can no longer replicate in humans and cause disease.
It can remain stable for two years at -20°C and at least three months at 2-8°C, so it’s compatible with standard distribution channel without the need for extra infrastructure.
Shares rose 2% to US$160.98 on Monday at the opening bell.