Emergent BioSolutions, filed three complaints to the Securities and Exchange Commission June 6, including the allegation that J&J didn’t deliver “forecasts of the required quantity of product to be purchased” and didn’t meet minimum requirements in the two-year agreement.
Emergent said a terminated contract will cost J&J $125 million to $420 million.
In response, J&J handed Emergent a “formal notice of termination” and said the filing “is false and misleading” the same day, according to the Wall Street Journal. J&J said Emergent failed “to supply the COVID-19 vaccine drug substance” after ingredients for about 400 million doses were contaminated in May.
Read the full story here.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
