EBS - Johnson & Johnson terminating COVID-19 vaccine contract with Emergent - WSJ

Johnson & Johnson (NYSE:JNJ) has notified Emergent BioSolutions (NYSE:EBS) it is terminating its supply deal with the contract manufacturer, with the pharma giant accusing Emergent of breaching a contract, The Wall Street Journal reported. Earlier on Monday, Emergent (EBS) accused J&J of breaching the contract in a SEC filing by saying, among other things, that subsidiary Janssen intends to not purchase the minimum quantity of the product pursuant to the agreement. J&J told the newspaper Emergent's breaches include "failure to supply Covid-19 vaccine drug substance." J&J also called the Emergent (EBS) filing "false and misleading." In 2021, a manufacturing mishap at an Emergent plant in Baltimore rendered millions of Janssen COVID doses unusable.

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Johnson & Johnson terminating COVID-19 vaccine contract with Emergent - WSJ