Johnson & Johnson Pulls Application For Accelerated Approval Of COVID-19 Shot In India: Report

Johnson & Johnson (NYSE: JNJ) has withdrawn its accelerated approval application for its COVID-19 vaccine, the Indian Drug Controller General of India said.
The reason for the withdrawal of the application is still unclear.
JNJ announced in April that it would seek approval to conduct a bridging clinical trial of its Janssen COVID-19 vaccine candidate in India. Studies in the United States were suspended at the time due to reports of rare blood clots.
The withdrawal comes as India addresses legal challenges with manufacturers regarding liability issues.
Related: Pfizer reaches an impasse with India over vaccine compensation issue.
Previously, it was reported that obstacles in importing the cans delayed the availability of the JNJ COVID-19 vaccine.
So far, four vaccines have received Emergency Authorization (EUA) in India - Covishield from AstraZeneca plc (NASDAQ: AZN), Indigenous Covaxin, Sputnik V from Russia, and Moderna Inc (NASDAQ: MRNA).
Price Action: JNJ shares closed at $ 172.20 on Friday.
Photo by Johaehn from Pixabay
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