Covid-19 vaccine sales fall on uncertain demand and supply surplus of rival shots
Bengaluru — Johnson & Johnson on Tuesday cut its full-year profit expectation and suspended sales forecast for its Covid-19 vaccine after having earlier predicted as much as $3.5bn in sales from the shot.
The vaccine, which is sold at a “not-for-profit” price, brought in $457m in the first quarter. Its sales last year had underperformed rival mRNA shots also due to manufacturing bottlenecks and safety concerns. J&J said it now expects full-year adjusted profit forecast to be $10.15-$10.35 per share, lower than the prior forecast of $10.40- $10.60. Overall sales of $23.43bn in the first quarter missed Refinitiv estimates of $23.61bn.
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