7/29, 11:37 AM (Source: TeleTrader)
more TeleTrader news

AstraZeneca, EU to settle legal spat in weeks - firm exec

AstraZeneca plc is hopeful that it can reach an agreement that would end its legal dispute with the European Union over COVID-19 vaccines in the coming weeks, the company's official, Ruud Dobber, who co-leads its BioPharmaceticals branch, said on Thursday.

"We're hopeful, in the next few weeks, we will have a settlement," he said during a press conference, without elaborating further.

A court in Belgium previously said that AstraZeneca committed a "serious breach" of its contract with the European Commission and ruled that the vaccine maker needs to deliver 80.2 million doses to the bloc by September 27. Despite the decision, the pharmaceutical company described the ruling as a success, as it now has to hand over almost 10 million doses fewer than initially planned.

Breaking the News / BU