Shares of Emergent BioSolutions Inc.
EBS,
+2.89%
were down 6.8% in premarket trading on Thursday, the day after Johnson & Johnson
JNJ,
-0.40%
confirmed that a batch of its COVID-19 vaccines manufactured at an Emergent plant did not meet “quality standards.” The New York Times on Wednesday reported that 15 million doses of J&J’s vaccine had been ruined as the result of a production mistake at an Emergent facility. Emergent is the U.S. manufacturing partner to J&J; that deal, worth $135 million, was announced in April of last year. J&J said Wednesday in a statement that the “quality control process identified one batch of drug substance that did not meet quality standards at Emergent BioSolutions, a site not yet authorized to manufacture drug substance for our COVID-19 vaccine.” Emergent’s stock has gained 71.0% over the past year, while the broader S&P 500
SPX,
+0.36%
is up 53.7%.
