J&J exec on coronavirus vaccine study pause: Will let science dictate how we proceed
Johnson & Johnson CFO and Executive Vice President Joe Wolk on the coronavirus vaccine study being paused due to an adverse reaction by a participant, earnings, and the supply chain.
Johnson & Johnson reported a strong third-quarter performance on Tuesday following an announcement that it is pausing its coronavirus vaccine research study.
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While the stock fell Tuesday on the news that the 60,000-patient clinical trial was temporarily halted, the drug maker’s worldwide sales from July to September jumped 1.7% to $21.1 billion. Its adjusted earnings per share rose 3.8% to $2.20.
JOHNSON & JOHNSON COVID-19 VACCINE STUDY PAUSED DUE TO ILLNESS
Johnson & Johnson CFO Joe Wolk told FOX Business’ Maria Bartiromo on “Mornings with Maria” on Tuesday that “all three segments performed extremely well especially considering the pandemic dynamics.”
The company’s consumer health sales rose 1.3% to $3.5 billion, while pharmaceutical sales jumped 5% to $11.4 billion.