The EU Commission and AstraZeneca plc (AZN) Ceased Talks Over Coronavirus Vaccine – Invest Chronicle

The EU Commission and AstraZeneca plc (AZN) Ceased Talks Over Coronavirus Vaccine

Pharma giant AstraZeneca plc (NASDAQ: AZN) pulled out of talks in Brussels in response to delays in the coronavirus vaccine delivery, a development that represents another escalation between the company and the European Union, as reported by Bloomberg.

European Union officials have been pressuring the company to rethink its decision to leave because they want to know about what has happened to vaccine deliveries, an official said. However, AstraZeneca has not confirmed its departure. 

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An online interview with AstraZeneca plc (AZN) CEO Pascal Soriot was published in the Italian La Repubblica in response to his company’s defense against the criticism leveled by the European Union on Tuesday. AstraZeneca CEO calls on the European Union to accept responsibility for the vaccine campaign’s delays, pointing out that the EU signed a deal with AstraZeneca three months later than the United Kingdom.

Since the EU insisted on receiving vaccine doses at precisely the same time as Britain, despite signing an agreement a three-months behind London, Astra has entered a “best-effort” agreement with the EU, which does not provide the exact amount of vaccine doses.

European Union claims to have advanced the company €336 million and is seeking explanations for the delay appearing to take place.

AstraZeneca plc (AZN) CEO, Soriot explained that the company plans to deliver the 3 million doses for the AstraZeneca and Oxford University vaccines within days of the EU’s regulatory approval, to reach 17 million doses in February.

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