Could This Move by Johnson & Johnson Equal Billions for Moderna?
What does big pharma Johnson & Johnson (NYSE: JNJ) have in common with biotech Moderna (NASDAQ: MRNA)? Well, both companies have been working to conquer a common respiratory virus. They've both approached the finish line with vaccine candidates for respiratory syncytial virus (RSV).
Last week, however, Johnson & Johnson said it would discontinue its adult RSV program. And that means one less potential competitor for Moderna, as the biotech aims to file for regulatory approval in the first half of this year. Could the J&J news eventually translate into billions of dollars for Moderna? Let's find out.
J&J isn't bowing out due to a problem with its candidate's performance. Instead, this is happening as part of the company's routine portfolio review -- to keep the focus on "medicines with the greatest potential benefit to patients."
Source Fool.com
