Johnson & Johnson suspends sales forecast for Covid vaccine

Johnson & Johnson hang sales forecasts for  Covid-19 vaccine during the American pharmaceutical giant’s quarterly savings call Tuesday, as insistence lags for that of shots by Moderna and Pfizer.

“Given global supply surplus and demand undetermined , the Company is suspends  COVID-19 Vaccine sales knowing,” J&J said in a statement, additionally said that the move will have “no impact to adjusted operational earnings per share.”

The firm’s  CEO Joaquin Duato stated that  the first quarter results  of which about  reported sales excluding Covid-19 vaccine sales figures were high to 3.8 to 4.8 percent over the same period last year  “demonstrate strong performance through out  the enterprise, despite macro-economic headwinds.”

On Wall Street, J&J’s stock was down 0.4 to $177 in electronic trading before the New York Stock Exchange opening bell.

Back in February The New York Times reported that Johnson & Johnson had temporarily suspended production at a key plant manufacturing its Covid-19 vaccine, although the company stressed it was still fulfilling its delivery commitments.

J&J said at the time it was projecting sales of $3 billion to $3.5 billion in 2022 for its Covid shot, much less than the $32 billion forecast by Pfizer for the same period.

A US government-appointed panel of medical experts on Thursday unanimously recommended mRNA Covid vaccines made by Pfizer and Moderna over J&J’s shot.

J&J’s vaccine became first  praised for the reason that it may be stored at refrigerator temperature and presented massive efficacy in response of  earlier strains of the coronavirus after just one shot.

But proof later emerged linking it to a unprecedented form of clotting, specially among women of toddler-bearing age, inflicting government to briefly halt after which resume its use in April ultimate yr.