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Around 30 million to 50 million doses of Johnson & Johnson's (NYSE:JNJ) COVID-19 vaccine manufactured earlier this year sit idle in Emergent BioSolutions Inc's (NYSE:EBS) Baltimore plant, Reuters reported citing two sources familiar with the matter.
Emergent said that it is waiting for FDA to approve the release of those doses. According to one of the sources, the agency must still inspect and authorize the plant before Emergent can ship newly manufactured drug substances.
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The exact number of doses sitting idle could not be determined because Emergent only makes raw vaccine substances and does not fill vials with the finished product.
The two sources said that material manufactured for the J&J vaccine at the Baltimore plant before the April shutdown and awaiting FDA approval could be enough to produce as many as 50 million shots.
Emergent described the 100 million doses worth of vaccine material in an April Congressional hearing as being sidelined. The FDA has so far cleared nine batches of J&J's vaccine and three batches of AstraZeneca Plc's (NASDAQ: AZN). It has not been disclosed how many doses were in those batches.
Price Action: JNJ stock is down 0.08% at $163.61, and EBS shares are up 1.65% at $49.03 during the market session on the last check Thursday.
Photo by torstensimon from Pixabay
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.