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Johnson & Johnson Slips on Vaccine Commitment As FDA Moves on EBS

Johnson & Johnson reiterated its commitment to delivering 100 million doses of its single-shot vaccine despite an FDA-ordered stoppage at Emergent BioSolutions.

Johnson & Johnson  (JNJ) - Get Johnson & Johnson Report said Monday that it remains committed to delivering 100 million doses of its single-shot vaccine after the Food & Drug Administration asked Emergent BioSolutions  (EBS) - Get Emergent Biosolutions Inc. Report to stop manufacturing ingredients at its Baltimore factory. 

Emergent BioSolutions said in a Securities and Exchange Commission filing Monday that the FDA asked it to stop making materials for the Johnson & Johnson vaccine after a mix-up at the Bayview plant earlier this month that may have affected some 15 million doses. 

Johnson & Johnson said at the time that its quality control process meant that the spoiled batch "was never advanced to the filling and finishing stages of our manufacturing process", and reiterated on Monday its commitment to delivering 100 million single-shot vaccine doses to the U.S. government by the end of May.

Johnson & Johnson shares were marked 0.7% lower in early trading Monday to change hands at $161.10 each.

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Emergent BioSolutions shares were marked 6.1% lower at $72.95 each and are down more than 20% since the vaccine mix-up was first revealed on April 1.

Last week, the Centers for Disease Control and Prevention and the Food and Drug Administration suspended use of the drugmaker's coronavirus vaccine amid concerns of blood clotting cases after six people -- among nearly 7 millions -- were found to have developed issues within two weeks of receiving the single-dose shot.

Dr. Anthony Fauci, the White House's chief medical advisor, told NBC's "Meet the Press" Sunday that he expects use of the Johnson & Johnson vaccine to be resumed later this week "likely with some sort of warning or restriction or assessment."

Johnson & Johnson will publish its first quarter earnings on Tuesday, before the start of trading, with analysts looking for a bottom line of $2.34 per share on revenues of $22 billion.