Economic news
Johnson & Johnson suspends sales forecast for COVID-19 vaccine
2022.04.19 13:31
FILE PHOTO: The logo of healthcare company Johnson & Johnson is seen in front of an office building in Zug, Switzerland December 1, 2021. REUTERS/Arnd Wiegmann/File Photo
(Reuters) -Johnson & Johnson on Tuesday suspended the sales forecast for its COVID-19 vaccine due to global supply surplus and demand uncertainty, sending its shares down 2.6% in premarket trading.
The company had previously forecast as much as $3.5 billion in sales of the shot, which has fared poorly compared to rivals due to low demand in the United States and safety concerns.
Sales of the vaccine last year underperformed rival mRNA shots due to manufacturing bottlenecks, safety concerns and an uneven vaccine demand.
