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J&J expects up to $3.5 billion in COVID vaccine sales this year -Breaking

© Reuters. People pose with syringe with needle in front of displayed Johnson & Johnson logo in this illustration taken, December 11, 2021. REUTERS/Dado Ruvic/Illustration

(Reuters) -Johnson & Johnson on Tuesday forecast $3 billion-$3.5 billion in revenue for its COVID-19 vaccine this year, compared to $2.39 billion it generated in 2021, even as the drugmaker faces manufacturing issues and uneven demand for the shot.

The single-dose J&J (NYSE:) shot, once touted as an important tool for vaccinating people living in hard-to-reach areas, has been behind its schedule for deliveries in the United States and Europe.

A Baltimore-based manufacturing facility had quality problems that led to the loss of many millions of dosages.

This forecast is coming at a moment when the company plans to seperate its consumer health division and concentrate on its pharmaceuticals and medical device businesses.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.