Health care giant Johnson & Johnson reported strong first-quarter numbers, boosted by sales of its one-dose COVID-19 vaccine —
Health care giant Johnson & Johnson reported strong first-quarter numbers, boosted by sales of its one-dose COVID-19 vaccine — despite the shot currently being on pause in the United States.
J&J reported a first-quarter net income of $6.2 billion ($2.32 per share), which included $100 million from sales of the COVID-19 vaccine, according to the Associated Press.
That is up 6.9 percent from $5.8 billion ($2.17 per share) from the same time last year.
The New Jersey-based company reported $22.32 billion in revenue, well above a projection of $21.82 billion, AP reported, citing a Zacks Investment Research survey.
The use of J&J’s one-shot jab against the coronavirus was halted last week amid concerns after six women — including one who later died — developed blood clots. The company later reported two additional cases, including a healthy 25-year-old man.
CDC director Dr. Rochelle Walensky compared the blood clots seen in J&J patients to those seen in people who were immunized by the WHO-approved AstraZeneca vaccine in Europe.
“In the European cases, both men and women presented with the blood clots, though they were more frequent in women,” Walensky said.
Dr. Anthony Fauci predicted that a decision regarding J&J’s vaccine would likely come by Friday and said he “very seriously” doubts the vaccine would be dropped.
The decision to pause the vaccine has been met with some criticism, including from former President Donald Trump, who dubbed the Food and Drug Administration “so stupid.”
Despite the pause, J&J’s pharmaceutical business generated $12.19 billion in revenue, per CNBC. That total is a 9.6 percent year-over-year increase.