Johnson & Johnson (NYSE: JNJ) announced in February 2020 that it planned to develop a COVID-19 vaccine. It was certainly good news that the world’s largest healthcare company was putting its massive resources behind the effort. Even better news came later as J&J reported that its vaccine would require only a single dose.
Those efforts culminated in J&J winning Emergency Use Authorization (EUA) for its single-dose COVID-19 vaccine on Feb. 27, 2021. Authorizations in other countries followed over the next few weeks.
Recently, though, it’s been nothing but bad news for J&J’s vaccine. But problems for one company often create opportunities for another. Here’s why Novavax (NASDAQ: NVAX) could be the biggest winner from Johnson & Johnson’s vaccine woes.