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Pin to quick picksAstrazeneca Share News (AZN)

Share Price Information for Astrazeneca (AZN)

London Stock Exchange
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Share Price: 12,516.00
Bid: 12,554.00
Ask: 12,556.00
Change: 112.00 (0.90%)
Spread: 2.00 (0.016%)
Open: 12,500.00
High: 12,586.00
Low: 12,444.00
Prev. Close: 12,404.00
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UPDATE 1-EU sues AstraZeneca over delayed deliveries of COVID-19 vaccine

Mon, 26th Apr 2021 12:52

(adds quotes)

BRUSSELS, April 26 (Reuters) - The European Commission said
on Monday it had launched legal action against AstraZeneca
for not respecting its contract for the supply of
COVID-19 vaccines and for not having a "reliable" plan to ensure
timely deliveries.

Under the contract, the company had committed to making its
"best reasonable efforts" to deliver 180 million vaccine doses
to the EU in the second quarter of this year, for a total of 300
million in the period from December to June.

But the company said in a statement on March 12 it would aim
to deliver only one-third of that. A week after that, the EU
Commission sent a legal letter to the company in the first step
of a formal procedure to resolve disputes.

"The Commission has started last Friday a legal action
against AstraZeneca," the EU spokesman told a news conference,
noting all 27 EU states backed the move.

"Some terms of the contract have not been respected and the
company has not been in a position to come up with a reliable
strategy to ensure timely delivery of doses," the spokesman
said, explaining what triggered the move.

"We want to make sure there is a speedy delivery of a
sufficient number of doses that European citizens are entitled
to and which have been promised on the basis of the contract,"
he said.
(Reporting by Francesco Guarascio; Editing by Alex Richardson
and Bernadette Baum)

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