Johnson & Johnson's COVID-19 vaccine brings in $100mln in quarterly sales

Net earnings rose to $6.20bln in the first quarter from $5.80bln

  
Vials labelled "COVID-19 Coronavirus Vaccine" and sryinge are seen in front of displayed Johnson&Johnson logo in this illustration taken, February 9, 2021.

Vials labelled "COVID-19 Coronavirus Vaccine" and sryinge are seen in front of displayed Johnson&Johnson logo in this illustration taken, February 9, 2021.

REUTERS/Dado Ruvic/Illustration

Johnson & Johnson, whose COVID-19 vaccine was put on pause last week to review reports of rare blood clots, reported $100 million in first-quarter sales of the shot on Tuesday and tightened its forecast for profits this year.

The company has previously said the vaccine will be available on a not-for-profit basis until the end of the pandemic.

The company now expects full-year adjusted profit of $9.42 to $9.57 per share from its prior forecast of $9.40 to $9.60 per share, after sales of its cancer drugs helped quarterly profit rise nearly 7%.

Net earnings rose to $6.20 billion, or $2.32 per share, in the first quarter from $5.80 billion, or $2.17 per share, a year earlier.

The company's COVID-19 vaccine use was paused by U.S. regulators last week as they review reports of rare but serious blood clots in recipients.

(Reporting by Manas Mishra and Manojna Maddipatla in Bengaluru; Editing by Anil D'Silva) ((Manas.Mishra@thomsonreuters.com; www.twitter.com/Manasmishra24; within U.S. +1 646 223 8780, outside U.S. +91 806749 2709;))

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