Johnson & Johnson cuts production of Covid-19 vaccine, WSJ reports

Johnson & Johnson (JNJ) has in recent months reduced its efforts in producing its Covid-19 vaccine as it faces slumping demand, The Wall Street Journal’s Jared S. Hopkins and Peter Loftus reports. According to the report, J&J terminated manufacturing agreements with companies that helped produce the shot during the pandemic such as Catalent (CTLT) and Sanofi (SNY), while the company is also engaged in arbitration with Merck (MRK) after their partnership to make the shots didn’t live up to expectations. J&J said it is making its Covid-19 vaccine available where needed, and it has hundreds of millions of doses available. Reference Link