The Biden administration and the Department of Health and Human Services. Johnson & Johnson said in a statement to CNN Wednesday that the quality control process at the plant identified one batch of drug substance that did not meet quality standards. Benzinga does not provide investment advice. Johnson & Johnson will oversee all aspects of vaccine production at the Emergent BioSolutions facility in Baltimore. Price Action: JNJ shares are down 0.43% at $173.26 on the last check Friday.ĭon't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better. In the Q1 earnings release, JNJ suspended its sales forecast for the COVID-19 vaccine due to global supply surplus and demand uncertainty. In the most recent quarter, JNJ generated $489 million in COVID-19 vaccine sales during the quarter, with none from the U.S. In June, J&J planned to terminate its Covid-19 vaccine supply with Emergent BioSolutions Inc (NYSE: EBS), and both companies accused each other of breaching the agreement. ![]() Catalent said it received payments of $54 million from J&J to resolve the contracts in October. The companies are now engaged in arbitration.Ĭatalent agreed to early termination of contracts with J&J for fill-and-finish of vaccine vials. Johnson & Johnson is reporting a setback in its effort to produce tens of millions of COVID-19 vaccine doses, saying a contract production plant in Baltimore produced an ingredient that. government's urging, has fallen short of expectations. The pharma giant has terminated manufacturing agreements with companies that helped produce the shot during the pandemic, such as Catalent Inc (NYSE: CTLT) and Sanofi SA (NASDAQ: SNY).Īlso, a partnership with Merck & Co Inc (NYSE: MRK) to help make the shots, forged at the U.S. Roughly 400 million doses of the original Pfizer-BioNTech shot and nearly 250 million doses of the original Moderna shot have been administered in the U.S., compared with about 19 million J&J doses, according to the Centers for Disease Control and Prevention. Manufacturing issues limited the shot's availability, and the risk of a severe but rare blood-clotting condition discouraged some people from using it. Yet J&J's vaccine hasn't been as widely used as the Moderna Inc (NASDAQ: MRNA) or Pfizer Inc (NYSE: PFE) and BioNTech SE (NASDAQ: BNTX) shots. At least nine companies agreed to help manufacture J&J's shot. The FDA approved the single-dose shot in February 2021 as it carried fewer cold-chain storage requirements than other shots. On April 13, 2021, the FDA and the CDC recommendedTrusted Source a pause on J&J. ![]() Johnson & Johnson (NYSE: JNJ) has significantly scaled back its efforts of manufacturing its COVID-19 vaccine after facing a fall in demand. Why was the Johnson & Johnson vaccine paused for a while.
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