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J&J Surges After $1 Billion Vaccine Deal With U.S. Government

Bloomberg business news
J&J Expects Virus Vaccine to Be Available in Early 2021, CEO Says

Johnson & Johnson surged Tuesday after the company said it would begin a $1-billion-plus effort with the U.S. government to develop and manufacture a vaccine against the new coronavirus.

J&J will work with the Biomedical Advanced Research and Development Authority, or BARDA, an arm of the U.S. Department of Health and Human Services, to further develop a vaccine the company said it’s been working on since January.