Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

EU proposes production investment to remedy vaccine shortages

EconomyFeb 02, 2021 02:35PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: European Commission President Von Der Leyen meets Moldova's President Sandu in Brussels

BRUSSELS (Reuters) - The European Commission is proposing to speed up the production of COVID-19 vaccines by helping to upgrade existing pharmaceutical plants or build new ones, according to a letter seen by Reuters on Tuesday.

The letter, from European Commission President Ursula von der Leyen and Portuguese Prime Minister Antonio Costa, whose country holds the rotating EU presidency, comes as the bloc struggles with a shortage of vaccines largely arising from production issues.

"The Commission should deploy all means necessary to meet Europe's needs, be it through additional investing in upgrading or repurposing existing plants or building new ones," the joint letter to EU leaders said.

It added that the newly agreed EU budget, which together with a recovery fund totals 1.8 trillion euros ($2.2 trillion), should be used to best effect.

The Commission, the letter said, should talk with industry not only to address the supply of vaccines but also other products such as tests and treatments.

The Commission is also proposing to create a programme involving high tech companies and manufacturers to detect and respond to future pathogens faster.

Von der Leyen faced hours of questions on Tuesday from lawmakers over the Commission's vaccine strategy, with criticism of the slow rollout and export control plan that dismayed Britain and Ireland.

EU countries have so far given first doses to about 3% of their populations, compared with 9% for the United States and 14% for Britain, according to Our World in Data.

($1 = 0.8319 euros)

EU proposes production investment to remedy vaccine shortages
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Murray McIntosh
Murray McIntosh Feb 02, 2021 6:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
still proposing. this is time for action they had plenty time to propose and act mid Last year as the UK did. As the rest of the world was searching around for PPE the UK was also ensuring they had adequate production and storage capacity in place.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email