J&J To Soon Terminate Emergent Manufacturing Deal For COVID Vaccine Production – $JNJ $DIA

By John F. Heerdink, Jr.

As per reports, Johnson & Johnson (JNJ) had formally informed Emergent BioSolutions Inc. of its decision to terminate the agreement with the contract manufacturer to make the COVID-19 vaccine for the drugmaker. Earlier, Emergent informed that J&J breached an agreement by failing to buy the minimum quantity of COVID-19 vaccines made by the company.

The contract manufacturer added that J&J had failed to provide required forecasts for the number of vaccines it needed and had wound down the agreement instead of fulfilling minimum requirements.

However, J&J informed that Emergent’s filing was false and misleading adding, “We have sufficient capacity across our global COVID-19 vaccine manufacturing network, and we continue to meet our contractual obligations to supply our vaccine.”

The use of J&J’s COVID-19 vaccine has been stopped in the United States after the Food and Drug Administration in May significantly restricted its use due to blot clot concerns.

Dow 30 component Johnson & Johnson (JNJ) is a worldwide healthcare-focused company that embraces research and science so that it can provide customers with innovative ideas, products, and services. To learn more about Johnson & Johnson (JNJ) and to continue to track its progress visit the Vista Partners Johnson & Johnson Coverage Page.

If you liked this story please consider, visiting the Atossa Therapeutics (ATOS) dedicated page at Vista Partners to learn about the Seattle-based biotech firm’s work towards finding therapeutic treatments for Breast Cancer and the Coronavirus.

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