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Johnson & Johnson suspended sales forecasts for its Covid-19 vaccine during the American pharmaceutical giant’s quarterly earnings call Tuesday, as demand lags behind that of shots by Moderna and Pfizer. Online News
“Given global supply surplus and demand uncertainty, the Company is suspending COVID-19 Vaccine sales guidance,” J&J said in a statement, adding that the move will have “no impact to adjusted operational earnings per share.”
The company’s chief executive Joaquin Duato said the first quarter results — in which estimated reported sales excluding Covid-19 vaccine sales figures were up 3.8 to 4.8 percent over the same period one year ago — “demonstrate strong performance across the enterprise, despite macro-economic headwinds.”
On Wall Street, J&J’s stock was down 0.4 to $177 in electronic trading before the New York Stock Exchange opening bell.
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Back in February The New York Times reported that Johnson & Johnson had temporarily suspended production at a key plant manufacturing its Covid-19 vaccine, although the company stressed it was still fulfilling its delivery commitments.
J&J said at the time it was projecting sales of $3 billion to $3.5 billion in 2022 for its Covid shot, much less than the $32 billion forecast by Pfizer for the same period.
A US government-appointed panel of medical experts on Thursday unanimously recommended mRNA Covid vaccines made by Pfizer and Moderna over J&J’s shot.
J&J’s vaccine was initially praised because it could be stored at fridge temperature and offered good efficacy against earlier strains of the coronavirus after just one shot.
But evidence later emerged linking it to a rare form of clotting, particularly among women of child-bearing age, causing authorities to briefly halt and then resume its use in April last year.
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Notes from APS Radio News
Whether the experimental mRNA vaccine is seen as safe, statistics compiled during the past few years reveal an interesting picture.
Whereas as of the date of May 7, 2021 Israel had recorded 838,850 cases, as of April 18, 2022 Israel recorded 3,997,863 virus cases.
Yet, Israel started its mass vaccination program earlier than most other countries, and early on it imposed some of the strictest requirements. In exchange for travel to public places, like restaurants and stores, Israelis were required to show proof of vaccination.
For much of the past year Israel’s vaccination participation rate has exceeded 65%.
In recent terms, Israel’s vaccine participation rate has been 72%; about 66% of Israelis are said to be fully vaccinated, according to Our World in Data.
Whereas as of November 17, 2021 Gibraltar had recorded 6,509 virus cases, as of April 18, 2022 Gibraltar recorded 17,236 virus cases, according to Statista.
However, for many months, Gibraltar’s vaccine participation rate has exceeded 100%.
Since 1986, when the US enacted the National Childhood Vaccine Injury Act, in general, vaccine makers have had legal immunity.
Since that law was enacted, the special injury fund, which was set up in lieu of lawsuits against vaccine makers, has paid out several billion dollars.
Applicants for money are limited to a maximum of a few hundred thousand dollars.
Last year Agence France Presse reported that Pfizer was expected to make about $35 billion from the experimental mRNA vaccine alone.
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