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Johnson & Johnson ends Covid-19 vaccine agreement with Emergent
By Shubhangi Mathur - Jun 07, 2022, 02:18 AM ET
Last Updated - Jun 07, 2024, 04:35 AM EDT
Johnson & Johnson (NYSE: JNJ) said on Monday it ended agreement with Emergent BioSolutions Inc (NYSE: EBS) regarding manufacturing of Covid-19 vaccines
• The company said it decided to terminate agreement with Emergent due to the manufacturer’s breaches
Johnson & Johnson (NYSE: JNJ) said on Monday it ended agreement with Emergent BioSolutions Inc (NYSE: EBS) regarding manufacturing of Covid-19 vaccines.
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J&J said it decided to terminate agreement with Emergent, which makes Covid-19 vaccines for the pharma company, due to the manufacturer’s breaches.
The contract manufacturer had failed to supply COVID-19 vaccine drug substance, said J&J.
Emergent, on the other hand, said on Monday that J&J breached an agreement by failing to buy the minimum quantity of Covid-19 vaccines made by the company.
Emergent seek about $125 million to $420 million from J&J if the agreement is ended, the company said.
Picture Credits: Reuters
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