
Please try another search
By Dhirendra Tripathi
Investing.com – AstraZeneca (NASDAQ:AZN) shares fell more than 1% Friday after a Brussels judge’s ordered it to deliver millions of doses of its Covid-19 shots to the European Union, with a penalty if it is unable to do so.
According to an AP report, the European Commission said that the judge had ordered the company to respect a delivery schedule of 15 million doses by July 26, 20 million doses by August 23 and 15 million doses by September 27.
European Commission President Ursula von der Leyen told AP the decision confirms the company had failed to honor its commitments.
The judge also ordered a fine of 10 euros ($12) for every dose not delivered.
The company also claimed victory. “All other measures sought by the European Commission have been dismissed, and in particular the Court found that the European Commission has no exclusivity or right of priority over all other contracting parties,” AstraZeneca said in a note.
The vaccine-maker said the company has supplied more than 70 million doses to the EU and will substantially exceed 80.2 million by the end of this month.
AstraZeneca was seen as the backbone of the EU’s vaccine rollout. Its contract with the European Commission foresaw 300 million doses being distributed initially, with an option for another 100 million, but the speed of deliveries was far slower than the company originally thought.
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.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
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.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.