JNJ Unlikely To Meet Q2 COVID-19 Vaccine Supply Target To EU: Reuters

Johnson & Johnson JNJ will miss its COVID-19 vaccine supply target to the European Union for the second quarter after millions of doses were found unfit for use, Reuters reported citing the E.U. Commission spokesman.
The EMA last week said JNJ doses sent to Europe from a factory in the U.S. would not be used as a precaution after a case of contamination.
In a statement to Reuters, EMA said that 17 million doses had been forbidden from being used in the bloc.
“Following the non-release of these batches, the company will not be in a position to deliver 55 million doses by the end of this quarter,” the E.U. commission spokesman told Reuters.
The E.U. has ordered a total of 200 million doses from J&J, of which 55 million were to be delivered by the end of June.
The company has so far delivered around 12 million doses.
Price Action: JNJ shares are up 0.26% at $164.91 during the market trading session on the last check Wednesday.