Merck (MRK) to Help Johnson & Johnson (JNJ) Make Covid-19 Vaccine, Biden Set to Announce - Report
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President Joe Biden will announce a partnership between rivals Merck (NYSE: MRK) and Johnson & Johnson (JNJ) today to make JNJ's recently approved COVID-19 vaccine, the Washington Post announced.
The agreement between the two pharma titans is formed to expedite the vaccination activities across the country. The administration has been looking at ways to help J&J ramp up its production of single-shot doses after it witnessed a slower-than-expected production of the coronavirus vaccine.
JNJ currently has an inventory of almost 4 million doses, which will be shipped by the US government in the following days. The company expects to produce 16 million doses by the end of the month.
Merck will use two of its facilities to support JNJ. The first facility will be used to produce the vaccine while the other one will carry out the last phase of the manufacturing process.
In January, Merck announced it was discontinuing the development of its two Covid-19 vaccine candidates.
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