focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.

Less Ads, More Data, More Tools Register for FREE
Stephen Yiu, FM at WS Blue Whale, discusses Nvidia, Visa/Mastercard, Lam Research & Allied Materials
Stephen Yiu, FM at WS Blue Whale, discusses Nvidia, Visa/Mastercard, Lam Research & Allied MaterialsView Video
Ben Turney, CEO at Kavango Resources, explains the company's progress from exploration to mining
Ben Turney, CEO at Kavango Resources, explains the company's progress from exploration to miningView Video

Latest Share Chat

Pin to quick picksAstrazeneca Share News (AZN)

Share Price Information for Astrazeneca (AZN)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 12,310.00
Bid: 12,308.00
Ask: 12,312.00
Change: -54.00 (-0.44%)
Spread: 4.00 (0.032%)
Open: 12,358.00
High: 12,376.00
Low: 12,256.00
Prev. Close: 12,364.00
AZN Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

"Didn't even try": EU lawyer accuses AstraZeneca of contract breach

Wed, 26th May 2021 10:25

By Francesco Guarascio

BRUSSELS, May 26 (Reuters) - A lawyer for the European Union
accused AstraZeneca on Wednesday of not having even
tried to respect its contract with the 27-nation bloc for the
supply of COVID-19 vaccines and of failing to warn it in time of
large cuts to deliveries.

The EU took the Anglo-Swedish firm to court in April after
the drugmaker said it would aim to deliver only 100 million
doses of its vaccine by the end of June, instead of the 300
million foreseen in the supply contract.

The EU wants the company to deliver at least 120 million
vaccines by the end of June.

"AstraZeneca did not even try to respect the contract," the
EU's lawyer, Rafael Jafferali, told a Brussels court in the
first hearing on the substance of the legal case.

AstraZeneca's lawyer was due to address the court later on
Wednesday. The company has repeatedly said the contract was not
binding as it only committed to make "best reasonable efforts"
in delivering doses.

Jafferali said that principle had not been respected because
the drugmaker had not delivered to the bloc the 50 million doses
produced in factories that are listed in the contract as
suppliers to the EU, including 39 million doses manufactured in
Britain.

The company has said that doses produced in Britain were
reserved under a contract the British government signed with the
University of Oxford, which developed the vaccine.

Jafferali said AstraZeneca had pledged in the EU contract
not to have other engagements that would prevent it from abiding
by the terms of the deal.

The lawyer also said AstraZeneca had failed to communicate
to the EU in a timely manner the magnitude of its supply
problems because it repeatedly sent messages, including
publicly, that it was able to meet its targets, before finally
admitting there were large shortfalls in March.

The company had warned the EU in December of production
problems, but communicated only at the end of January, just
before the start of deliveries, a much larger cut than initially
expected for the first-quarter.

(Reporting by Francesco Guarascio @fraguarascio
Editing by John Chalmers, Kirsten Donovan)

More News
6 Mar 2024 14:40

UK BUDGET: Some tax cuts but vapes, tobacco and non-doms targeted

(Alliance News) - A cut to national insurance, stamp duty relief as well as a freeze on fuel and alcohol duties were among the marquee tax measures that UK Chancellor Jeremy Hunt announced in his budget on Wednesday.

Read more
5 Mar 2024 14:24

AstraZeneca's breast cancer treatment blocked for NHS use in England

(Alliance News) - A treatment that extends the life of people with advanced breast cancer has been blocked for NHS use in England in a move that potentially impacts thousands of patients.

Read more
4 Mar 2024 09:31

AstraZeneca and Daiichi Sankyo get EU approval for cancer treatment

(Alliance News) - AstraZeneca PLC and Daiichi Sankyo Co Ltd on Monday said that the European Medicines Agency has approved two marketing authorisation applications for their datopotamab deruxtecan in two types of cancer.

Read more
4 Mar 2024 07:18

AstraZeneca's chemo replacement treatment moves closer to EU approval

(Sharecast News) - European regulators have validated two marketing authorisation applications (MMAs) for AstraZeneca, as the biopharma giant's datopotamab deruxtecan chemotherapy replacement treatment comes one step closer to receiving the green light to treat two types of cancer.

Read more
26 Feb 2024 08:51

AstraZeneca's Voydeya treatment recommended for EU approval

(Alliance News) - AstraZeneca on Monday announced further support from regulators for its first-in-class blood disease treatment.

Read more
26 Feb 2024 07:22

AstraZeneca's blood-disorder drug recommended for EU approval

(Sharecast News) - European regulators has given the green light to AstraZeneca's blood-disorder drug Voydeya, the biopharma giant announced on Monday.

Read more
22 Feb 2024 17:36

EARNINGS AND TRADING: Astra closes Gracell buy, Amicorp "on track"

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and Thursday and not separately reported by Alliance News:

Read more
20 Feb 2024 10:29

AstraZeneca acquires US-based biopharmaceutical company

(Sharecast News) - Drugmaker AstraZeneca revealed late on Monday afternoon that it had successfully completed its acquisition of US-based biopharmaceutical company Icosavax.

Read more
20 Feb 2024 09:40

LONDON BROKER RATINGS: JPMorgan cuts Airtel Africa price target by 28%

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

Read more
19 Feb 2024 16:51

LONDON MARKET CLOSE: Europe lacks direction on quiet Monday

(Alliance News) - European markets lacked direction on Monday, after a quiet day as the US markets celebrated George Washington's birthday.

Read more
19 Feb 2024 15:59

London close: Stocks manage gains on globally quiet day

(Sharecast News) - London's financial markets finished in positive territory on Monday, with stocks closing in the green after overcoming minor losses earlier in the session.

Read more
19 Feb 2024 15:39

UPDATE: AstraZeneca completes USD1.1 billion acquisition of Icosavax

(Alliance News) - AstraZeneca PLC on Monday said it has completed the acquisition of Icosavax Inc.

Read more
19 Feb 2024 11:51

LONDON MARKET MIDDAY: Stocks lack direction amid quiet start to week

(Alliance News) - Stock prices in London lacked direction at midday Monday, amid a quiet start to the week.

Read more
19 Feb 2024 08:44

LONDON MARKET OPEN: Stocks drift; Currys surges on takeover interest

(Alliance News) - Stock prices in London were looking for direction early Monday, as investors weighed possible trajectories for US interest rate cuts and a China's economic recovery.

Read more
19 Feb 2024 08:36

TOP NEWS: AstraZeneca celebrates Tagrisso approval and new data

(Alliance News) - AstraZeneca PLC on Monday announced new study data and a new approval for its cancer medication Tagrisso.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.