J&J suspends sales forecast for COVID vaccine, cuts profit view - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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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 $3.5 billion in sales from the shot.

The world’s largest healthcare conglomerate cited uncertain demand and supply surplus of rival shots that have fared much better than its single-dose vaccine for cancelling the forecast.

Pfizer Inc has forecast $32 billion in 2022 sales from its COVID vaccine developed with BioNTech, while Moderna has forecast $21 billion. “The slight miss was really around the COVID-19 vaccine and quite frankly it met our internal expectations. There was just a disconnect into how the Street assumed it was going to play out over the year,” Chief Financial Officer Joseph Wolk told CNBC.

 

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They were just ordered to pay I think $97 billion dollars for their role in the opioid crisis so I'm not that shocked

Wonder why. Nothing to do with people realizing the harm it brings, I'm sure

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