Baltimore vaccine maker hid potential problem, House report says
Cross-contamination of coronavirus vaccines being made for Johnson & Johnson and AstraZeneca was discovered in March 2021. The company had more than $1.3 billion worth of contracts from the federal government and from Johnson & Johnson and AstraZeneca to make the vaccines. The hold tags indicated a potential quality problem with the vaccine in the containers, the House panel found. After discovery of cross-contamination, the Biden administration suspended the plant’s production of the Johnson & Johnson vaccine in April and permanently halted production of the AstraZeneca vaccine at the plant. But even after the restart in August, problems continued, according to the House report.washingtonpost.com
J&J lowers 2022 revenue and earnings expectations, stops giving Covid vaccine sales guidance
Johnson & Johnson on Tuesday lowered its full-year sales and earnings outlook, and stopped providing Covid-19 vaccine sales guidance due to a global supply surplus and demand uncertainty. J&J is now forecasting 2022 sales of $94.8 billion to $95.8 billion, about one billion dollars lower than the guidance provided in January. J&J reported first-quarter sales of $23.4 billion, slightly missing Wall Street expectations but growing 5% over the same quarter last year. The company's medical devices business grew by 5.9% to $6.97 billion in sales compared to the first quarter of 2021. "Looking ahead, I remain confident in the future of Johnson & Johnson as we continue advancing our portfolio and innovative pipeline."cnbc.com
J&J's Janssen settles with WVa for $99M in opioid lawsuit
West Virginia will receive $99 million in a settlement finalized with Johnson & Johnson’s subsidiary Janssen Pharmaceuticals Inc. The state filed a lawsuit accusing the drugmaker of contributing to the opioid crisis in the state that's led the nation in overdose deaths.
J&J expects more than $3 billion in Covid vaccine sales this year in mixed quarterly report
Johnson & Johnson on Tuesday projected that its Covid vaccine would generate $3 billion to $3.5 billion in sales in 2022, after posting a mixed fourth-quarter report that slightly beat on earnings' estimates but missed on revenue. Revenue: $24.8 billion, vs. $25.29 billion expectedCFO Joseph Wolk told CNBC a strengthening dollar negatively impacted top line sales by $150 million to $200 million. Hospital staffing shortages caused by the omicron Covid variant also generated uncertainty in the company's medical devices business, particularly with elective procedures, Wolk said. J&J reported $93.77 billion in sales in 2021, a 13.6% increase over the prior year. J&J said it expects to generate $10.40 to $10.60 in earnings per share this year and $98.9 billion to $100.4 billion in revenue.cnbc.com
CDC reports heart inflammation cases among young kids who got Pfizer COVID-19 shot
The U.S. Centers for Disease Control and Prevention said on Thursday it had received reports of eight cases of myocarditis, a type of heart inflammation, in children aged 5-11 years who received Pfizer and BioNTech's COVID-19 vaccine.news.yahoo.com
CDC expert panel prefers Pfizer, Moderna vaccines over J&J shots for adults due to rare blood clot cases
The Advisory Committee on Immunization Practices voted unanimously to recommend Pfizer and Moderna over the Johnson & Johnson vaccine. Seventeen men developed TTS. A week later, the FDA and the CDC lifted the pause on J&J shots after the independent advisory panel said the benefits of the shots outweighed the risks. In October, the FDA and CDC authorized J&J boosters for all adults at least two months after receiving their initial J&J shot. People who received their primary vaccination with the J&J shot can also get boosted with the Pfizer or Moderna vaccines.cnbc.com
Millions of dollars headed to Bexar County to help opioid addicts get more resources
Bexar County residents who have an opioid addiction will soon have more resources available to help them after the county approved a roughly $12 million portion of a settlement between the State of Texas and Johnson & Johnson worth more than $290 million.
How much Texas gets from multistate, $26 billion opioid settlement hinges on how many local governments sign on
The state and its political subdivisions could get up to $1.5 billion from the settlement. But some local governments are considering pursuing their own lawsuits against drug makers and distributors.