Johnson & Johnson suspends sales forecast for COVID-19 vaccine

Johnson & Johnson on Tuesday suspended the sales forecast for its COVID-19 vaccine due to global supply surplus and demand uncertainty, sending its shares down 2.6% in premarket trading.

The company had previously forecast as much as $3.5 billion in sales of the shot, which has fared poorly compared to rivals due to low demand in the United States and safety concerns. Sales of the vaccine last year underperformed rival mRNA shots due to manufacturing bottlenecks, safety concerns and an uneven vaccine demand.