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Share Price: 12,510.00
Bid: 12,524.00
Ask: 12,526.00
Change: 118.00 (0.95%)
Spread: 2.00 (0.016%)
Open: 12,468.00
High: 12,556.00
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UPDATE 1-EU seeks access to U.S. produced AstraZeneca vaccines -FT report

Sat, 06th Mar 2021 10:11

(Adds background)

March 6 (Reuters) - The European Union will urge the United
States to permit the export of millions of doses of
AstraZeneca's COVID-19 vaccine as it scrambles to bridge
supply shortfalls, the Financial Times reported.

The 27-nation EU also wants Washington to ensure the free
flow of shipments of crucial vaccine ingredients needed in
European production, the FT report on Saturday said.

"We trust that we can work together with the U.S. to ensure
that vaccines produced or bottled in the U.S. for the fulfilment
of vaccine producers' contractual obligations with the EU will
be fully honoured,” the FT quoted the European Commission as
saying. https://www.ft.com/content/e4aaf7a8-3ccb-4223-b8e9-4cd069a9dbf2

EU countries started inoculations at the end of December,
but are moving at a far slower pace than other rich nations,
including former member Britain and the United States.

Officials blame the slow progress in part on supply problems
with manufacturers.

The European Commission and Italy this week blocked a
shipment of AstraZeneca's coronavirus vaccine destined for
Australia after the drug manufacturer failed to meet its EU
contract commitments.

The Anglo-Swedish drugmaker has been under fire in the EU
for its delayed supplies of shots to the 27-nation bloc, which
ordered 300 million doses by the end of June.

"We are working 24/7 to improve delivery and hopefully catch
up to the expectations for Q2," AstraZeneca's CEO Pascal Soriot
told EU lawmakers in a public hearing in February.

The EU is also planning to extend its export authorisation
scheme for COVID-19 vaccines to the end of June, two EU sources
told Reuters on Thursday.

Under the scheme, companies must get an authorisation before
exporting COVID-19 shots, and may have export requests denied if
they do not respect their EU supply commitments.

The European Commission and AstraZeneca were not immediately
available for comment.
(Reporting by Ann Maria Shibu and Sabahatjahan Contractor in
Bengaluru; Editing by Mark Heinrich and Alexander Smith)

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