Johnson & Johnson backed off its full-year forecast of sales for its Covid-19 vaccine, citing a global surplus of doses and uncertainty over how the course of the pandemic will affect demand.
The healthcare-products company said Tuesday that Covid-19 shots helped lift overall sales in its most recent quarter. Johnson & Johnson sold $457 million of the vaccine in its most recent quarter, with international buyers accounting for most of those sales. In the same period a year earlier, shortly after the shot had been authorized in the U.S., the company’s Covid-19 vaccine sales were $100 million, exclusively in the U.S. In the previous quarter, the company’s global Covid-19 vaccine sales came in at $1.62 billion.
