Astrazeneca Share Discussion Threads

[beckers2008] 01/6/2021 16:42

Monte your back, what took you so long.
Still standing by your '6200, nailed on'!
Lol, just Lol!

[montyhedge] 01/6/2021 14:54

Lol, Astra best short in the FTSE 100 along with GSK.

[smcni1968] 27/5/2021 20:19

Monty forced to close out his short ?

[mac15] 27/5/2021 19:26

Why the big spike at the close.

[beckers2008] 26/5/2021 17:50

When AZN are aquited of all charges in the EU based Brussels court, I hope they go after the EU in the civil court for compensation on the grounds of deflammination or similar.

[beckers2008] 26/5/2021 15:10

EU Lawyer - 'Best effort means flexibility!' Does it! - Where does it state that in law?

AZ Lawyer - 'This may be what the commission wants, but it is not provided for in the contract' - Sums it up really.

[nick100] 26/5/2021 13:59

(Alliance News) - The EU accused AstraZeneca PLC of a "flagrant violation" of its contract to rapidly build-up coronavirus production capacity in the bloc, as it began legal action against the drugs giant Wednesday. Â

The EU member states and their executive, the European Commission, brought the case before a court in Brussels, the union having signed its supply agreement with the British and Swedish firm under Belgian law.

The EU is suing the group in a bid to force it to deliver 90 million more doses of its Covid-19 vaccine before July – arguing that it failed in its contractual duty by handing over only a quarter of the doses it promised for the first quarter of 2021.

The deadline for the contract was set for mid-June, according to the Commission, and the EU says the company will face financial penalties if it does not meet this deadline.

AstraZeneca delivered only 30 million doses in the first quarter out of the 120 million it was contracted to supply. For the current quarter which runs until June 30, it plans to deliver only 70 million of the 180 million initially promised.

A Commission official close to the case told AFP this month that AstraZeneca was currently delivering doses at a rate of only 10 million per month, well below the planned pace.

The company's defence – articulated ahead of the case in a series of media interviews by AstraZeneca's French-Australian boss Pascal Soriot – has been that the contract only stipulates that it make "best reasonable efforts" and that production was hit by unavoidable delays.

But, opening the attack for the EU, lawyer Rafael Jeffareli argued that the firm had privileged supplies to Britain and beyond, while failing to make the best effort to step up production at its EU site in the Netherlands, operated by its sub-contractor Halix.

In court, Jeffareli alleged that for several weeks after the EU signed its contract with the firm in September last year, the Dutch plant had continued to supply markets other than the EU.Â

"Best effort means flexibility! Why did the switchover of the Halix site (to EU supply) only start on October 13?" he demanded.Â

"AstraZeneca did not even use all the tools at its disposal," he said, claiming that the group could at the time mobilise "six production sites to meet the set schedule."Â

The Halix plant in Leiden, the Netherlands, had sent supplies to Japan at the end of last year, he said. In total, "50 million doses were diverted to third countries in flagrant violation of the contract".

The group denies having failed in its obligations and at the end of April denounced the lawsuit as "unfounded".Â

One lawyer for AstraZeneca – which worked with Oxford University in the development of its vaccine – has claimed that the EU had been warned "as early as February" of the delays and expressed surprise that the bloc had waited at least two months to take the matter to court.

But the European Commission says the contract proves AstraZeneca is legally responsible, and EU diplomats and lawmakers have pointed out that the company has largely delivered promised doses to Britain, where it is headquartered.

The commission, which has been responsible for procuring vaccines for all of the bloc, initially intended to use the AstraZeneca jab as the main workhorse to power the EU's inoculation drive.

It has now switched to the more expensive vaccine from Pfizer Inc and BioNTech SE as its mainstay.

Ahead of the hearing Hakim Boularbah, AstraZeneca's lawyer, said the contracts contained "no obligation to use [production] sites".

"This may be what the commission wants, but it is not provided for in the contract," he said.

The row has eroded public confidence in the AstraZeneca jab, which also took a blow over worries of links to very rare blood clots in people who had received it. Â

In the EU, Denmark, as early as April, and later Norway and Austria, stopped using AstraZeneca in their vaccination campaigns.Â

Most other countries have restricted its administration to older adults. This is the case in France, where it is reserved for those aged 55 and over.

[nick100] 26/5/2021 13:09

its an update

[beckers2008] 26/5/2021 13:02

N100,

You have sent the same message twice?

AZ are going to make fools of the EU, imo they already are!

[beckers2008] 26/5/2021 12:49

A,

It's already gone to court!
But it should be heard in an independent country so AZN get a fair trial as it looks like a witch hunt to me, the EU have no case and much egg will be on their faces.

[gregb] 26/5/2021 10:10

Remember, it's the EU that have brought this case and we know how daft they can be at times :-)

[alphorn] 26/5/2021 09:51

It would not go to court if as simple as that.

[beckers2008] 26/5/2021 09:49

N100,

More like, AZN will confront and prove that the contract the EU signed was 'best efforts' as AZN were contractually committed to the UK.
Now it has gone to court, AZN can show what a shambles the EU procurement process is.
The EU will not come out of this in a good light, that is assured!

[nick100] 26/5/2021 07:55

(Alliance News) - The European Commission will confront drugs giant AstraZeneca PLC in a Belgian court on Wednesday over coronavirus vaccine delivery shortfalls that hampered efforts to kickstart inoculations across the bloc.Â

Lawyers for both sides are due to appear before a judge in the French-speaking court in Brussels from 09:00 am (0700 GMT). Another hearing is scheduled for Friday, the court said.

The EU is suing the British-Swedish pharmaceutical group in a bid to force it to deliver 90 million more doses of its Covid-19 vaccine before July.

The deadline for the contract was set for mid-June, according to the Commission, and the EU says the company will face financial penalties if it does not meet this deadline.

AstraZeneca delivered only 30 million doses in the first quarter out of the 120 million it was contracted to supply. For the current quarter which runs until June 30, it plans to deliver only 70 million of the 180 million initially promised.

A Commission official close to the case told AFP this month that AstraZeneca was currently delivering doses at a rate of only 10 million per month, well below the planned pace.

The group denies having failed in its obligations and at the end of April denounced the lawsuit as "unfounded".Â

One lawyer for AstraZeneca claimed that the EU had been warned "as early as February" of the delays and expressed surprise that the bloc had waited at least two months to take the matter to court.

The EU is also accusing the pharmaceutical giant – which worked with Oxford University in the development of its vaccine – of having favoured the UK in its deliveries, even for jabs made by subcontractors on the continent.

AstraZeneca's French-Australian boss Pascal Soriot has argued that his company's contract with the EU binds it only to a "best reasonable efforts" clause.Â

But the European Commission says the rest of the contract shows greater legal responsibility than that, and EU diplomats and lawmakers have pointed out that the company has largely delivered promised doses to Britain, where it is headquartered.

The commission, which has been responsible for procuring vaccines for all of the bloc, initially intended to use the AstraZeneca jab as the main workhorse to power the EU's inoculation drive.

It has now switched to the more expensive BioNTech SE/Pfizer Inc vaccine as its mainstay.

In a hearing, Rafael Jafferali, one of the commission's lawyers, accused AstraZeneca of having "breached numerous obligations under the pre-order contract".Â

"This affects both the production and delivery of the vaccines," he said.

But Hakim Boularbah, AstraZeneca's lawyer, said the contracts contained "no obligation to use (production) sites".

"This may be what the commission wants, but it is not provided for in the contract," he said.

The row has eroded public confidence in the AstraZeneca jab, which also took a blow over worries of links to very rare blood clots in people who had received it. Â

In the EU, Denmark, as early as April, and later Norway and Austria, stopped using AstraZeneca in their vaccination campaigns.Â

Most other countries have restricted its administration to older adults. This is the case in France, where it is reserved for those aged 55 and over.

source: AFP

[gregb] 25/5/2021 21:35

Why? More likely the pizza she ate!

[johncasey] 25/5/2021 17:06

shareprice crash tomoro!

[philanderer] 25/5/2021 15:28

maybe this..


Moderate House Democrats are crafting alternatives to their party’s signature drug pricing legislation because they’re skeptical a bill to empower the government to negotiate with drugmakers can become law.

Two Democrats say they’re preparing drug pricing bills aimed at garnering more support than one pushed by House leaders (H.R. 3) that would peg drug prices in the U.S. to those in foreign countries.