Johnson & Johnson (NYSE:JNJ) has notified Emergent BioSolutions (NYSE:EBS) it is terminating its supply deal with the contract manufacturer, with the pharma giant accusing Emergent of breaching a contract, The Wall Street Journal reported.
Earlier on Monday, Emergent (EBS) accused J&J of breaching the contract in a SEC filing by saying, among other things, that subsidiary Janssen intends to not purchase the minimum quantity of the product pursuant to the agreement.
J&J told the newspaper Emergent's breaches include "failure to supply Covid-19 vaccine drug substance." J&J also called the Emergent (EBS) filing "false and misleading."