Johnson & Johnson (JNJ.N) raised its 2021 revenue estimates on Wednesday and forecast it would sell $2.5 billion worth of its COVID-19 vaccine this year, as it strives to quell production and safety problems and catch up with rivals Pfizer and Moderna.
were cleared, its vaccine sales outlook still pales in comparison with its peers and reflects the widening gap in the global vaccine race.
The J&J vaccine, once touted as an important tool for vaccinations in hard-to-reach areas, has the least uptake in Europe among all the vaccines approved for use, and has also struggled in United States.J&J expects to produce 500 million to 600 million doses of the vaccine this year, Chief Financial Officer Joseph Wolk told CNBC on Wednesday.
Sales at the company's medical devices unit rose 62.7% to $6.98 billion, boosting its second-quarter numbers.
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