Vaccine problems knock down Johnson & Johnson shares by 14.5%

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Vaccine problems knock down Johnson & Johnson shares by 14.5%

05.04.2021 News

Johnson & Johnson has found a batch of coronavirus vaccine that does not meet quality standards, the company said. Supplier Emergent BioSolutions at a plant in Baltimore manufactured the batch. This batch was not poured into ampoules and was not admitted to the final stages of production, the report said.

 

Against this background, shares of Emergent BioSolutions on the New York Stock Exchange fell 14.56% to $ 79. Shares of Johnson & Johnson fell 1.1% to $ 162.55 per share.

The Food and Drug Administration (FDA) have not yet certified emergent BioSolutions for the Johnson & Johnson vaccine. Due to the incident, the regulator began inspecting the plant.

Emergent BioSolutions is a partner of Johnson & Johnson and AstraZeneca. According to The New York Times, workers at the subcontractor’s factory accidentally mixed ingredients from Johnson & Johnson and AstraZeneca coronavirus vaccines. After that, Johnson & Johnson tightened control over the work of Emergent BioSolutions to avoid additional losses, the publication said.

A manufacturing error at a coronavirus vaccine plant resulted in the loss of 15 million doses of Johnson & Johnson, Bloomberg reported, citing two sources familiar with the situation.

The coronavirus vaccine, developed by Johnson & Johnson, was approved in the United States in February. Johnson & Johnson has become the third vaccine approved for use in the United States in an emergency. It requires only one injection. The company intends to supply 100 million single-dose vaccines to the United States in the first half of 2021. By the end of the year, Johnson & Johnson expects to deliver more than one billion doses of the vaccine.

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