Emergent BioSolutions under scrutiny following quality control issues with COVID-19 vaccines.
•A member of the Vaccine Education Center at the Children's Hospital of Philadelphia, Dr. Paul Offit, joins"GMA" to discuss the latest on J&J vaccines.For Emergent BioSolutions, Feb. 8 was a day to revel in their success -- at least as far as the public was concerned.
The disconnect between Kramer's public confidence and the firm's private woes may have landed Emergent in a crisis of its own making. The company now faces an investor lawsuit, threats of additional class-action suits, a congressional investigation, and calls for the Securities and Exchange Commission to probe Kramer's stock activities.
But the deal has been under public scrutiny since early April, when the company first acknowledged that it discarded a batch of Johnson & Johnson vaccines because they"did not meet specifications and our rigorous quality standards." The New York Times later reported that Emergent had, since October 2020, thrown out millions of doses' worth of AstraZeneca's vaccine as a result of similar issues.
At least three other law firms have separately begun soliciting investors to join a prospective class-action lawsuit against the company. An Emergent spokesperson said these efforts were also without merit.Outside of the courts, lawmakers have taken notice of public reporting on Emergent. Rep. Carolyn Maloney, D-N.Y., the chairwoman of the House Oversight and Reform Committee, and Rep.
An Emergent spokesperson explained that Kramer's transactions were scheduled in November, long before they were executed -- a practice frequently used by corporate executives to avoid suspicion of trading on insider information, which is illegal.
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