Johnson & Johnson JNJ Shares,
fell 1.4% in Friday morning trading after reports that health officials decided the drug maker should throw away millions of doses of COVID-19 vaccine due to possible contamination. The New York Times reported on Friday, citing people familiar with the situation, that after weeks of inspection, the FDA has ordered J&J to abandon 60 million doses of vaccine produced at a federal-controlled Baltimore plant. control managed by Emergent BioSolutions. Inc. EBS,
due to possible contamination. The FDA said Friday it is authorizing the emergency use of two batches of vaccines produced at the Baltimore facility, even though it said it was “not ready yet” for the plant to be approved for vaccine production. The NYT report comes after the FDA approved an extension of the shelf life of a single dose of J&J vaccine from 3 months to 4 1/2 months as stocks build up. J&J shares are up 3.6% in the past three months, while SPDR Health Care Select Sector ETF XLV.
added 8.6%, and the Dow Jones Industrial Average DJIA,