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Pin to quick picksAstrazeneca Share News (AZN)

Share Price Information for Astrazeneca (AZN)

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RPT-AstraZeneca further cuts target for supply to EU in Q1 to 30 mln vaccines -document

Thu, 11th Mar 2021 23:59

(Repeats earlier story, no changes to text)

By Francesco Guarascio

BRUSSELS, March 12 (Reuters) - AstraZeneca cut its
supply forecast of COVID-19 vaccines to the European Union in
the first quarter to about 30 million doses, a third of its
contractual obligations and a 25% drop from pledges made last
month, a document seen by Reuters shows.

The shortfall will represent a further blow to the EU's
vaccination plans, which have been hampered by repeated delays
in vaccine supplies and by a slow rollout in some nations.

The document, shared with EU officials and dated March 10,
shows that the company now expects to deliver 30.1 million doses
by the end of March, and another 20 million in April.

On Feb. 25, AstraZeneca boss Pascal Soriot told the European
Parliament that the company would try to deliver 40 million
doses by the end of March..

The document shows that on Feb. 24, the Anglo-Swedish
company already estimated a supply of only 34 million doses to
the EU for the January to March period, well below its
contracted target of 90 million doses.

A spokesman for AstraZeneca declined to comment on Friday.

A person familiar with the situation said that the uplift
the company had expected for the first quarter did not
materialise because of the difficulties of moving vaccines
around global supply chains.

The United States, from where AstraZeneca expected to partly
supply the EU market, told the EU that it would not export
AstraZeneca shots in the near future, Reuters reported on
Thursday, citing EU officials.

The company had said its initial supply cuts were caused by
production problems in the EU.

"I see efforts, but not "best efforts". That's not good
enough yet for AstraZeneca to meet its Q1 obligations," EU
industry commissioner Thierry Breton said on Twitter late on
Thursday.
"It's time for AstraZeneca's Board to exercise its fiduciary
responsibility and now do what it takes to fulfil AZ's
commitments," Breton added.

The AstraZeneca document also shows that the company expects
to deliver about 20 million doses to the EU in April. It
includes no forecasts for May and June.

Under the contract, AstraZeneca committed to supplying the
27-nation bloc with 180 million doses in the April to June
quarter, for a total of 300 million shots from December.
(Reporting by Francesco Guarascio @fraguarascio, Editing by
Rosalba O'Brien)

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