J&J suspends COVID-19 vaccine sales forecast
ABC News
Johnson & Johnson is suspending sales forecasts for its COVID-19 vaccine only a few months after saying the shot could bring in as much as $3.5 billion this year
Johnson & Johnson is suspending sales forecasts for its COVID-19 vaccine only a few months after saying the shot could bring in as much as $3.5 billion this year.
Shares of the health care giant slid in early trading Tuesday after it also reported better-than-expected first-quarter earnings and hiked its dividend but chopped an earnings forecast it had debuted in January.
The health care giant said Tuesday that a global supply surplus and demand uncertainty prompted the change in its vaccine outlook.
J&J’s one-shot vaccine brought in $457 million in global sales during the first quarter, with most of that coming from outside the United States. The vaccine registered only $75 million in sales in the U.S., or about 25% less than what it rang up after debuting in last year’s first quarter.
