Per WSJ
Johnson & Johnson Deals with Decrease in Covid Vaccine Demand by Scaling Back Production
1/13/2023
Johnson & Johnson was one contender in the mass-vaccination period where it remained scarce, and more and more people were trying to get it. With less demand for a Covid vaccine, the company is vastly scaling back its production after terminating manufacturing deals with various companies in recent months.
The pharmaceutical company tried to keep up with the demand when a mass surge of people wanted to get the Covid vaccine. The company is scaling back even more after terminating manufacturing agreements with different companies.
Johnson & Johnson entered a manufacturing agreement with Catalent Inc. and Sanofi SA to help them produce the shots needed to supply the massive demand in the US and worldwide for Covid shots. One partnership that didn't go well was with Merck & Co. due to their inability to produce the needed dose as only one of its plants could manufacture the vaccine.
Center for Global Development supply-chain expert and senior fellow Prashant Yadav stated the attempts made by the company.
Yadav: “They were trying to do this the best way possible to meet global demand but all of those plans fell apart,”
When regulators cleared J&J in the US on February 2021, there were high hopes of the company being able to demand. However, the initial supply was small, pushing the company to enter into deals with other companies to manufacture the vaccine.
So far, J&J vaccines haven't been able to compete with the likes of Pfizer or Moderna, two of the biggest contenders for supplying Covid vaccines to US citizens. The demand for vaccines has decreased as the pentagon has decided to drop its mandate for US troops to be vaccinated.
Some of J&J's competitors have been toying with the idea of increasing the price of the vaccine as its demand has drastically dropped. One of these companies is Moderna, which is considering raising its prices from $15-$16 to $110-$130 per shot.
See flow at unusualwhales.com/flow.
Other News:
- Pentagon drops COVID-19 vaccine mandate for troops
- Moderna, MRNA, considers price of $110-$130 for covid-19 vaccine
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