Court Rules In Favor Of AstraZeneca Over Delay In COVID-19 Shot Deliveries
benzinga2021-06-18
- AstraZeneca Plc claims victory in a court tussle with the European Union over allegations that the company was not producing shots fast enough, thus missing COVID-19 vaccine deliveries.
- The company had planned 120 million vaccine doses cumulatively by the end of June 2021 and 300 million doses by the end of September.
- AZN intends to deliver more than 70 million by the end of the month.
- A judge ordered delivery of 80.2M doses by the end of September.
- The judgment also acknowledged that the company experienced substantial difficulties in producing the vaccine, which explains the delay.
- Last month, the E.U.’s lawyer had asked the court to force AZN to pay €10 per dose for each day of delay as compensation for breaching the E.U. contract.
- Price Action: AZN shares are down 0.75% at $57.91 during the premarket trading session on the last check Friday.
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