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Trump Administration Expects Coronavirus Vaccine Production To Start By The End Of Summer

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Trump Administration Expects Coronavirus Vaccine Production To Start By The End Of Summer

A senior functionary of President DonaldTrump’s administration has disclosed that health officials and drugmakers in the United States are expecting the production of a COVID-19 vaccine to begin by the end of summer.

What Happened

The official said at a press conference Monday that the manufacturing of some of the probable coronavirus vaccines was underway, even though their efficacy has yet to be verified, reported CNBC.

Revealing the timeline of the production, the official said, “Exactly when the vaccine materials will be in production and manufacturing? It’s probably four to six weeks away.”

The development is being hastened, and investments have been made in multiple candidate vaccines at various levels of research. 

Among the candidates chosen by the Trump Administration, those from Moderna Inc (NASDAQ: MRNA) and Johnson & Johnson (NYSE: JNJ) will undergo late-stage human trials by the end of July.

Why It Matters

Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases and a member of the White House coronavirus task force, has cast doubt on the long-term immunity potential of vaccines against COVID-19, reported CNBC.

Meanwhile, the Food and Drug Administration has recently granted fast track designation to two vaccine candidates from Pfizer Inc (NYSE: PFE) and its German partner BioNTech SE (NASDAQ: BNTX).

If the efforts of Pfizer and its partner are successful, they could manufacture up to 100 million doses by the end of 2020 and more than 1.2 billion doses by the end of 2021.

Jefferies analyst Michael Yee said in a note there is a reasonable probability that Moderna’s vaccine will work and get emergency approval by 2021.

On Monday, Moderna’s shares closed more than 14% higher at $71.78, crossing the $70 mark for the first time since late May.

 

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