J&J Slips As Adverse Reactions Force FDA To Put Pause On Its Covid Jabs

imageStock Markets54 minutes ago (Apr 13, 2021 07:59AM ET)

(C) Reuters

By Dhirendra Tripathi – Johnson & Johnson (NYSE:JNJ) stock was trading weaker in Tuesday’s premarket, after cases of adverse reaction in patients who had been administered the company’s Covid-19 jab emerged, forcing the U.S. authorities to pause the vaccination at various sites.

A joint statement issued Tuesday by the Centers for Disease Control and Prevention and the FDA said they were reviewing data of a rare and severe type of blood clot in six women days after they were vaccinated. One of the six died, while another is in hospital in a critical condition.

“We are recommending a pause in the use of this vaccine out of an abundance of caution,” the Food and Drug Administration said in a tweet.

J&J stock was down 2.6% by 8 AM ET in response.

It’s a big setback for the company and a troubling one for the country’s vaccination campaign. The fact that J&J’s vaccine only needs a single shot, rather than the two required by Pfizer ‘s (NYSE:PFE) and Moderna’s, means that it’s a faster way to immunize more people.

As of Monday, more than 6.8 million doses of the J&J vaccine had been administered in the U.S.

J&J Slips As Adverse Reactions Force FDA To Put Pause On Its Covid Jabs

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.