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Name | Symbol | Market | Type |
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AstraZeneca PLC | NASDAQ:AZN | NASDAQ | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.75 | 0.99% | 76.55 | 55.00 | 77.24 | 76.49 | 75.43 | 76.47 | 9,026,349 | 05:00:07 |
By Cecilia Butini and Ian Walker
The European Commission said Friday that the Court of First Instance in Brussels has ordered AstraZeneca PLC to urgently deliver Covid-19 vaccine doses to member states, deciding on interim measures for the company amid a lawsuit brought against it by the commission and the 27 EU member states.
The court has ordered AstraZeneca to deliver 50 million vaccine doses by Sept. 27, adding to 30.2 million that the company said it has delivered in the first quarter of the year.
In the event of non-compliance with the deadline, the company will have to pay a penalty of 10 euros ($11.91) per non-delivered vaccine dose, the Commission said, reporting the court's decision.
The European Commission had originally requested 120 million vaccine doses cumulatively by the end of June, and a total of 300 million doses by the end of September. It decided on April 26 to bring legal proceedings against the company on behalf of EU member states as it sought to ensure vaccine deliveries to the bloc.
AstraZeneca said that it welcomed the court's decision on Friday, adding that it has supplied more than 70 million doses of the vaccine to the EU and expects to "substantially exceed" the required amount by the end of June.
The Commission said that the judge's decision on the interim measures--which means that the case is still open--is based on the fact that the company committed a serious breach of its contractual obligations with the EU.
AstraZeneca's general counsel Jeffrey Pott said the company has fully complied with its agreement with the European Commission.
Write to Cecilia Butini at cecilia.butini@wsj.com and Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
June 18, 2021 10:01 ET (14:01 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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