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J&J raises 2021 profit view, keeps vaccine sales outlook unchanged By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO: Vials labelled “COVID-19 Coronavirus Vaccine” and sryinge are seen in front of displayed Johnson&Johnson logo in this illustration taken, February 9, 2021. REUTERS/Dado Ruvic/Illustration

(Reuters) -Johnson & Johnson on Tuesday raised its adjusted profit forecast for 2021, even as it stuck to its outlook of $2.5 billion in sales from its COVID-19 vaccine this year.

From its previous estimates of $9.60 to $9.50 per share, the company has increased its adjusted annual earnings forecast by $9.77 to $9.82 to replace its earlier estimate of $9.60 per share to $9.70 to $9.70 per sharing.

The company had experienced major difficulties in the production of COVID-19 earlier this year. A quality problem at Baltimore’s manufacturing plant led to massive delays.

J&J (NYSE:) in July said it expects to produce 500 million to 600 million doses of its one-shot vaccine this year, down from its goal to make a billion shots.

The U.S. Food and Drug Administration’s independent advisers last week recommended authorizing a second dose of J&J’s vaccine for all recipients of the one-dose inoculation.

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