J&J Slips as CDC Tells People to Pick Pfizer or Moderna For Covid Shots

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J&J Slips as CDC Tells People to Pick Pfizer or Moderna For Covid Shots
Credit: © Reuters.

By Dhirendra Tripathi

Investing.com – Johnson & Johnson stock (NYSE: JNJ ) traded 1.4% lower in premarket a day after cases of blood clotting associated with the company’s Covid-19 vaccine prompted the CDC to recommend Americans to choose between mRNA shots made by Pfizer (NYSE: PFE ) and Moderna (NASDAQ: MRNA ).

The CDC's move came on the advice of the Advisory Committee on Immunization.

With only around 16 million of the 200 million fully-vaccinated American receiving J&J's vaccine and the company selling it at a not-for-profit price, the revenue impact on the company's accounts so far has been negligible. The CDC advice deals a blow to the chances of it contributing more to cash flow in future.

In more adverse news for the company, members of the panel also said that J&J's vaccine is less effective in stopping the virus than the other two vaccines.

J&J said in a statement that the safety and well-being of those who use its vaccine is its top priority and it looks forward to working with the CDC on the next steps.

Blood clots accompanied by low levels of platelets have previously been reported in recipients of the J&J vaccine.

The updated CDC recommendation follows similar recommendations from other countries, including Canada and the U.K.

The ACIP and the CDC reaffirmed that receiving any vaccine is better than being unvaccinated. Individuals who are unable or unwilling to receive an mRNA shot will continue to have access to J&J’s vaccine, the CDC said.

J&J’s is the only single-shot vaccine available in the U.S. while the other two are double-dose.

Last month, the company revealed its plan to split its consumer health business into a separate listed entity, a process expected to take 18 to 24 months.

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