Johnson & Johnson Halts Production Of Its COVID-19 Vaccine: NYT

Johnson & Johnson JNJ quietly shut down the only plant making usable batches of its COVID-19 vaccine, the New York Times reported, citing people familiar with the decision.

• The NYT report said the halt is temporary, with the Leiden plant expected to start making the vaccine again after a few months. 
• The paper added that it was unclear whether the pause has impacted vaccine supplies yet, thanks to stockpiles.
• According to the report, the facility in the Dutch city of Leiden has instead been making an experimental but potentially more profitable vaccine to protect against an unrelated virus.
• Last month, the Company forecasted as much as $3.5 billion in sales of its COVID-19 vaccine in 2022.
• J&J reported sales of $2.39 billion for the COVID shot in 2021, missing its target of $2.5 billion.
• With the Leiden plant temporarily unavailable, it could reduce the supply of the J&J vaccine by a few hundred million doses, the NYT report said, citing one of the people familiar with the decision.
• Price Action: JNJ shares are up 0.11% at $171.25 during the market session on the last check Tuesday.