Johnson & Johnson suspends sales forecast for COVID-19 vaccine
Johnson & Johnson suspends sales forecast for COVID-19 vaccine

Johnson & Johnson suspends sales forecast for COVID-19 vaccine

The logo of the healthcare company Johnson & Johnson is seen in front of an office building in Zug, Switzerland on December 1, 2021. REUTERS / Arnd Wiegmann / File Photo

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April 19 (Reuters) – Johnson & Johnson (JNJ.N) on Tuesday, the sales forecast for its COVID-19 vaccine suspended due to global supply surplus and demand uncertainty, sending the company’s shares down 2.6% in pre-market trading.

The company had previously predicted as much as $ 3.5 billion in sales of the shot, which has performed poorly compared to competitors due to low demand in the US and security issues.

Sales of the vaccine last year outperformed rival mRNA shots due to bottlenecks in production, safety concerns and uneven vaccine demand.

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Reporting of Manas Mishra in Bengaluru; Editing by Arun Koyyur

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