Emergent BioSolutions tumbles 14% after J&J says it spoiled 15 million COVID-19 vaccine doses
- Shares of
Emergent BioSolutionstumbled 14% after it spoiled Johnson & Johnson vaccines.
- According to The New York Times, the spoilage that affected 15 million vaccine doses was due to human error.
- The contract manufacturer produces both the J&J and
AstraZenecavaccines, which the NYT reports it mixed together.
Shares of Emergent BioSolutions tumbled as much as 14.5% on Thursday after Johnson & Johnson said the biopharmaceutical manufacturing plant spoiled 15 million COVID-19 vaccine doses.
Emergent BioSolutions is a contract manufacturer that produces both the Johnson & Johnson and AstraZeneca coronavirus vaccines.
According to The New York Times, the vaccine spoilage was due to human error, when workers at the plant mixed up the ingredients of the Johnson & Johnson and AstraZeneca vaccines.
The Maryland-based company fell to as low as $79.40 a share Thursday. The stock is down 3.22% in the last month.
Emergent BioSolutions was expected to produce tens of millions of doses of the Johnson & Johnson vaccine in the coming months. The mishap will delay production and shipment schedules for weeks, according to the Times.
Johnson & Johnson fell as much as 1.3% Thursday before paring back losses.
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