J&J pulls in $2.5bn from Covid-19 jabs alone, but slips below Wall Street forecasts
Johnson & Johnson quarterly revenue slipped below Wall Street forecasts in its latest trading update, though the business giant turned Covid-19 vaccine maker pulled in $2.5bn from its jab sales.
The vaccine sales figure comes despite a string of production setbacks, including quality issues at one of its single-dose vaccine manufacturing facilities – which saw millions of doses wasted.
The J&J jab currently has the lowest uptake in the US, as vaccine rivals Moderna and Pfizer snap up supply deals for booster doses in 2022 and beyond.
Overall, the consumer goods heavyweight enjoyed $23.34bn in sales overall, just missing analyst expectations of £23.72bn.
While sales in its medical devices unit jumped eight per cent to $6.64bn.
J&J lifted its adjusted earnings per share forecast for this year to between $9.77 and $9.82 – between seven and 12 cents higher than its previous estimate.