J&J Cuts This Week's COVID-19 Vaccine Deliveries For EU By Half: Reuters - Johnson & Johnson (NYSE:JNJ)

Johnson & Johnson JNJ has reportedly reduced the deliveries for its single-shot COVID-19 vaccine to the EU by half this week, Reuters reported citing an EU official.
Under its contract with the EU, JNJ has committed to shipping 55 million doses in the second quarter. But till now, it had delivered less than 5 million doses, which is less than 10% of its target.
As of Monday, the company has delivered 2.6 million doses to European countries, data from the European Centre for Disease Prevention and Control show.
JNJ “is cutting deliveries this week by half,” one EU official who is involved in talks with the U.S. drugmaker has said, adding that it was unclear how many doses are likely to be delivered next week.
The company has not responded to a request for comments.
“We understand there is only a limited temporary reduction of deliveries which is expected to be caught up at a later stage,” a spokesman for the European Commission said.
Both the EU source and the spokesman said the company was still aiming to deliver the contracted 55 million doses within the quarter.
JNJ had initially planned to begin delivering doses to the EU from April 1, but production issues delayed the shipments.
Price Action: JNJ shares are closed 0.12% higher at $170.39 on Monday.