J&J made $502 million in third-quarter vaccine sales amid booster approval

Johnson & Johnson (J&J) said it made $502 million in sales from its COVID vaccine in the third quarter, according to an earnings report released Tuesday.

J&J’s pharmaceutical business, which developed the single-shot COVID vaccine, generated $12.9 billion in revenue — a 13.8% year-over-year increase, CNBC reported.

Sales of J&J’s vaccine came in lighter than expected, Edward Jones analyst Ashtyn Evans said in a report to clients. But the Dow Jones company still expects $2.5 billion in COVID vaccine sales this year.

The company also said it has maintained its vaccine sales outlook for the year, and it plans to ship as much as it can through the rest of the year, CFO Joseph Wolk said on “Squawk Box.”

J&J’s report experienced criticism due to how the company handled the opioid crisis and development of a comparatively less-effective COVID vaccine under outgoing CEO Alex Gorsky.

On Oct. 15, the U.S. Food and Drug Administration’s (FDA) Vaccines and Related Biological Products Advisory Committee (VRBPAC) unanimously recommended giving a second booster dose to all recipients of J&J’s COVID vaccine over 18 years old.

The FDA panel placed no restrictions on who should receive an additional J&J dose, unlike it did with mRNA vaccines, which are authorized only for use for certain high-risk groups. VRBPAC said the second shot should be given no earlier than two months after the first.

Read more at: ChildrensHealthDefense.org

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