J&J Predicts Its COVID Vaccine Will Bring In Billions This Year

Johnson & Johnson estimates that its one-dose COVID-19 vaccine will bring in up to $3.5 billion in sales this year. It reported $93.77 billion in sales in 2021, nearly a 14% increase over the previous year.

The pharmaceutical company’s shares dropped around 2% in premarket trading Tuesday. Due to poor performances from some of its major sources of revenue such as cancer drug Imbruvica, its fourth-quarter report didn't reach market predictions.

Competitors also expect billions of dollars in revenue this year. Pfizer predicts $29 billion from vaccine sales in 2022, according to Reuters.

In a statement released on Dec. 16, 2021, the Centers for Disease Control and Prevention emphasized “a clinical preference for individuals to receive an mRNA COVID-19 vaccine [Pfizer or Moderna] over Johnson & Johnson’s COVID-19 vaccine.”

The guidance came after deliberations regarding up-to-date evidence on vaccine efficacy, safety and rare adverse events amid the outbreak of the Omicron variant.

Dr. Mike Ryan, executive director of the World Health Organization's Health Emergencies Program, described the Omicron variant as “a massive threat” for those who are unvaccinated. "People should really look at this in terms of really seriously considering getting out there and getting vaccinated,” he said.