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.

  • 📰 SABCNews
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

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

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 37. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines