J&J pauses production of its COVID-19 vaccine
[ad_1]
© Reuters. FILE PHOTO: Vials with a sticker reading, “COVID-19 / Coronavirus vaccine / Injection only” and a medical syringe are seen in front of a displayed Johnson & Johnson logo in this illustration taken October 31, 2020. REUTERS/Dado Ruvic/File Photo(Reuters) – Johnson & Johnson (NYSE:) late last year quietly shut down the only plant making usable batches of its COVID-19 vaccine, the New York Times reported, citing people familiar with the decision.
The halt is temporary, with the Leiden plant expected to start making the vaccine again after a few months, the NYT report said https://www.nytimes.com/2022/02/08/business/johnson-johnson-covid-vaccine.html. Due to the stockpiles, it is not known if the pause had any impact on vaccine supply.
Reuters requested comment from the company, but it did not respond immediately.
According to the report, the facility in Leiden has been producing an experimental, but more lucrative, vaccine that protects against an unrelated disease.
Last month, the drugmaker forecasted that its COVID-19 vaccine sales would reach $3.5 billion by 2022. This is a 46% increase over previous years. However, it has performed poorly in comparison to other competitors.
Company reported $2.39 billion sales for COVID 2021. This was lower than its original target of $2.5B. In a year marred by production stumbles, safety concerns, and unbalanced demand for a vaccine that had been touted as an effective tool to inoculate populations in difficult-to reach areas, it missed its goal of $2.5B.
With the Leiden plant temporarily unavailable, it could reduce the supply of the J&J vaccine by a few hundred million doses, the NYT report said, citing one of the people familiar with the decision.
According to the report, other facilities have also been used to produce the vaccine. However they either aren’t up and running already or do not have regulatory approval.
Fusion MediaFusion Media or any other person involved in the website will not be held responsible for loss or damages resulting from reliance on data including charts, buy/sell signals, and quotes. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.
[ad_2]
