Johnson & Johnson (JNJ) stock still continue to rise despite the company's COVID-19 vaccine was paused in the U.S. last week on reports of rare blood clots. In fact, the company is accelerating to resolve its vaccine's issues in the U.S., and to actively grab international market share.
According to Reuters, the company said on Tuesday that it is seeking approval to conduct a local clinical trial in India for its single-dose COVID-19 vaccine. The country is grappling with a second wave in COVID-19 cases that has severely strained its health system and caused shortages of oxygen and medicines. However, the company did not give more details about the process. Obviously, if approved by India's drug regulator, it will produce more doses of vaccine for the country. India is a populous country, which has high demand for COVID-19 vaccine.
In addition, the company released its 2021 first-quarter results on Tuesday. The sales was $22.3 billion for the quarter, an increase of 7.9% year-over-year, and its net earnings was $6.2 billion for this period, an increase of 6.9% year-over-year. The first-quarter profit and sales that rose above expectations, citing strength in its pharmaceutical business and continued recovery in medical devices.
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