Why Emergent BioSolutions Stock Dropped 30% in April

Shares of Emergent BioSolutions (NYSE: EBS) fell 30% in April, according to data from S&P Global Market Intelligence, after quality-control errors at one of the company's facilities ruined millions of doses of Johnson & Johnson's COVID-19 vaccine. The purge was required after ingredients of another vaccine had contaminated the production area of J&J's shot. CEO Robert Kramer chalked the errors up to the complexity of manufacturing two biologic products in the same facility -- which he says the government directed -- and trying to produce tens of millions more doses than the facility was built for.