The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

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: 12,024.00
Bid: 12,024.00
Ask: 12,028.00
Change: 36.00 (0.30%)
Spread: 4.00 (0.033%)
Open: 12,254.00
High: 12,256.00
Low: 12,018.00
Prev. Close: 11,988.00
AZN Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 3-AstraZeneca contract, at heart of row, includes UK as 'best effort' base for output to EU

Fri, 29th Jan 2021 11:40

(Adds more on "best reasonable efforts")

By Philip Blenkinsop

BRUSSELS, Jan 29 (Reuters) - The European Commission's
contract with AstraZeneca to supply COVID-19 vaccines
includes Britain along with the EU as places where the
Anglo-Swedish drugmaker should make its best efforts to
manufacture vaccines for the EU.

The contract is at the heart of a dispute over access to
vaccines, after AstraZeneca announced last week it would fall
short of delivering promised vaccines to the EU by March because
of production problems in Belgium.

The EU, whose member states are far behind Israel, Britain
and the United States in rolling out vaccines, is standing its
ground, pressing the Anglo-Swedish drugmaker to deliver the
doses as promised in the contract.

AstraZeneca has been making large quantities of its vaccine
in Britain, but has said a contract it signed with the British
government requires it to fulfil Britain's order before it can
send doses manufactured there abroad, including to the EU.

The company agreed on Friday to publication of its advance
purchase agreement with the European Commission. The 41-page
contract was published https://bit.ly/2MBIaoU, although certain
parts were redacted.

The contract says that AstraZeneca must uses its "Best
Reasonable Efforts" to manufacture the EU doses, but the parties
disagree on what this means.

AstraZeneca's contention is that this is more of a
subjective assessment, but a commission official said on Friday
it was an objective legal standard.

The official pointed to a sentence in the contract by which
AstraZeneca says it is not under any obligation to others that
would impede complete fulfilment of the agreement's
requirements.

The commission also contends it does have the right to doses
made in Britain and refers to a section at the end of the
contract listing two British production sites.

"AstraZeneca shall use its Best Reasonable Efforts to
manufacture the vaccine at manufacturing sites located within
the EU (which for the purpose of this Section 5.4 only shall
include the United Kingdom)," the contract says in a section on
manufacturing sites.

At the time the contract was signed, Britain had left the EU
but was still subject to most EU rules in a transition period
which ended at the start of this year.

The contract goes on to say that AstraZeneca may manufacture
at facilities elsewhere to accelerate supply of the vaccine in
Europe, provided that it gives prior notification.

The contract does not say whether AstraZeneca is obliged to
send vaccines produced in Britain to the European Union.

Asked whether Britain would publish its own contract with
the company, a spokesman for Prime Minister Boris Johnson said
it was policy not to discuss contractual matters.

The commission official did recognise that a legal challenge
would not necessarily result in more vaccines being made
available, a view broadly shared by EU governments despite
Italy's request for legal action.

"The centre of gravity of opinion is more like: 'let's try
and thrash out something with these guys'," one senior EU
diplomat said.

The commission said it welcomed the company's commitment
towards more transparency.

AstraZeneca and the EU had signed a deal for up to 400
million doses of the vaccine. Last week, the firm unexpectedly
announced cuts of up to 60% in supplies to the bloc, citing
production problems at a Belgian factory, triggering a furious
response from the bloc.

The EU is now looking into a scheme to monitor and authorise
export of vaccines, potentially blocking them if its own supply
is not met.

(Reporting by Philip Blenkinsop, John Chalmers and Francesco
Guarascio in Brussels and Pushkala Aripaka in Bengaluru
Editing by John Chalmers and Nick Macfie)

More News
25 Mar 2024 07:59

LONDON BRIEFING: AstraZeneca wins US approval, Kingfisher profit down

(Alliance News) - London's FTSE 100 is set to open lower on Monday, giving back some of last week's progress, when equities were boosted by hope of interest rate cuts.

Read more
25 Mar 2024 07:23

AstraZeneca gets FDA approval for Ultomiris treatment

(Sharecast News) - AstraZeneca has announced that its autoimmune disease treatment Ultomiris has been given the green light by US regulators.

Read more
21 Mar 2024 16:43

AstraZeneca's Tagrisso successful in treating lung cancer

(Alliance News) - AstraZeneca PLC on Thursday reported positive findings following a phase III trial of its lung cancer Tagrisso treatment.

Read more
19 Mar 2024 08:56

TOP NEWS: AstraZeneca to buy Fusion in deal worth over USD2 billion

(Alliance News) - AstraZeneca PLC on Tuesday said it will buy Fusion Pharmaceuticals Inc, a Canada-based clinical-stage biopharmaceutical company developing "next-generation" radioconjugates.

Read more
19 Mar 2024 07:05

AstraZeneca to buy US-listed Fusion Phrama for $2bn

(Sharecast News) - AstraZeneca said it had agreed to buy biopharmaceutical company Fusion Pharmaceuticals for up to $2bn.

Read more
18 Mar 2024 16:09

UK dividends calendar - next 7 days

Tuesday 19 March 
Jarvis Securities PLCdividend payment date
Wednesday 20 March 
Virgin Money UK PLCdividend payment date
Thursday 21 March 
abrdn Asia Focus PLCdividend payment date
abrdn Private Equity Opportunities Trust PLCex-dividend payment date
AIB Group PLCex-dividend payment date
Beazley PLCex-dividend payment date
BlackRock World Mining Trust PLCex-dividend payment date
British American Tobacco PLCex-dividend payment date
Chemring Group PLCex-dividend payment date
CLS Holdings PLCex-dividend payment date
Conduit Holdings Ltdex-dividend payment date
Craneware PLCex-dividend payment date
Crest Nicholson Holdings PLCex-dividend payment date
Diverse Income Trust PLCex-dividend payment date
Fonix Mobile PLCex-dividend payment date
FW Thorpe PLCex-dividend payment date
Glanbia PLCex-dividend payment date
GlobalData PLCex-dividend payment date
Globalworth Real Estate Investments Ltdex-dividend payment date
Goodwin PLCex-dividend payment date
Gore Street Energy Storage Fund PLCex-dividend payment date
Hargreaves Services PLCex-dividend payment date
HgCapital Trust PLCex-dividend payment date
Hikma Pharmaceuticals PLCex-dividend payment date
Jardine Matheson Holdings LDex-dividend payment date
London Finance & Investment Group PLCex-dividend payment date
Maven Income & Growth VCT 3 PLCex-dividend payment date
Maven Income & Growth VCT 5 PLCex-dividend payment date
MTI Wireless Edge Ltdex-dividend payment date
Nichols PLCex-dividend payment date
NWF Group PLCex-dividend payment date
Palace Capital PLCex-dividend payment date
Pearson PLCex-dividend payment date
Pembroke VCT B PLCex-dividend payment date
Primorus Investments PLCex-dividend payment date
Schroders PLCex-dividend payment date
Triple Point Energy Transition PLCex-dividend payment date
Tristel PLCex-dividend payment date
VPC Specialty Lending Investments PLCdividend payment date
Friday 22 March 
easyJet PLCdividend payment date
FRP Advisory Group PLCdividend payment date
Gulf Investment Fund PLCdividend payment date
Henderson Opportunities Trust PLCdividend payment date
Hercules Site Services PLCdividend payment date
Impax Asset Management Group PLCdividend payment date
JLEN Environmental Assets Group Ltddividend payment date
JPMorgan Multi-Asset Growth & Income PLCdividend payment date
Mattioli Woods PLCdividend payment date
Mobeus Income & Growth 2 VCT PLCdividend payment date
Mobeus Income & Growth 4 VCT PLCdividend payment date
Ramsdens Holdings PLCdividend payment date
Riverstone Credit Opportunities Income PLCdividend payment date
Ruffer Investment Co Ltddividend payment date
Samuel Heath & Sons PLCdividend payment date
Troy Income & Growth Trust PLCdividend payment date
Unilever PLCdividend payment date
Monday 25 March 
AstraZeneca PLCdividend payment date
Endeavour Mining PLCdividend payment date
Mountview Estates PLCdividend payment date
Shell PLCdividend payment date
  
Comments and questions to newsroom@alliancenews.com
  
A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
18 Mar 2024 14:08

AstraZenca hails Imfinzi and Lynparza results on endometrial cancer

(Alliance News) - AstraZeneca PLC on Monday reported positive findings following the analysis of results from a phase III probe of its Imfinzi and Lynparza cancer treatments.

Read more
14 Mar 2024 10:01

TOP NEWS: AstraZeneca buys France's Amolyt Pharma for USD1 billion

(Alliance News) - AstraZeneca PLC on Thursday said it has struck a deal to acquire Amolyt Pharma SAS, strengthening its late-stage rare disease pipeline.

Read more
14 Mar 2024 07:52

LONDON BRIEFING: Astra makes USD1.05 billion buy; Halma backs outlook

(Alliance News) - London's FTSE 100 is set to tread water after the opening bell sounds on Thursday, as investors look to a batch of US data to come in the early afternoon.

Read more
14 Mar 2024 07:16

AstraZeneca snaps up rare disease specialist Amolyt for $1.05bn

(Sharecast News) - Biopharma giant AstraZeneca has announced the acquisition of French biotech firm Amolyt Pharma for up to $1.05bn to beef up its late-stage rare disease pipeline.

Read more
8 Mar 2024 06:00

Astra, Sanofi's antibody 90% effective against RSV in infants - CDC

(Alliance News) - A new treatment for infant respiratory syncytial virus, RSV, – a leading cause of severe illness in US babies – is 90% effective in preventing hospitalization, health authorities said Thursday.

Read more
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

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.