• Johnson & Johnson (NYSE: JNJ) will miss its COVID-19 vaccine supply target to the European Union for the second quarter after millions of doses were found unfit for use, Reuters reported citing the E.U. Commission spokesman.

• The EMA last week said JNJ doses sent to Europe from a factory in the U.S. would not be used as a precaution after a case of contamination.

• In a statement to Reuters, EMA said that 17 million doses had been forbidden from being used in the bloc.

• “Following the non-release of these batches, the company will not be in a position to deliver 55 million doses by the end of this quarter,” the E.U. commission spokesman told Reuters.

• The E.U. has ordered a total of 200 million doses from J&J, of which 55 million were to be delivered by the end of June.

• The company has so far delivered around 12 million doses.

• Price Action: JNJ shares are up 0.26% at $164.91 during the market trading session on the last check Wednesday.

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