(Reuters) – Johnson & Johnson, whose COVID-19 vaccine was put on pause last week to review reports of rare blood clots, reported $100 million in first-quarter sales of the shot on Tuesday and tightened its forecast for profits this year.
The company has previously said the vaccine will be available on a not-for-profit basis until the end of the pandemic.
The company now expects full-year adjusted profit of $9.42 to $9.57 per share from its prior forecast of $9.40 to $9.60 per share, after sales of its cancer drugs helped quarterly profit rise nearly 7%.
Net earnings rose to $6.20 billion, or $2.32 per share, in the first quarter from $5.80 billion, or $2.17 per share, a year earlier.
The company’s COVID-19 vaccine use was paused by U.S. regulators last week as they review reports of rare but serious blood clots in recipients.
(Reporting by Manas Mishra and Manojna Maddipatla in Bengaluru; Editing by Anil D’Silva)
