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The E.U. may seek billions in penalties if AstraZeneca’s vaccine deliveries fall short

Lawyers representing the European Union said on Wednesday that they would seek penalties from AstraZeneca that could run into the billions of euros if the pharmaceutical company fails to deliver tens of millions of doses of Covid-19 vaccine that it is contractually required to supply.

In the first hearing in a lawsuit that the E.U. has brought against AstraZeneca, lawyers representing the bloc told the judges in a Brussels courtroom that they would seek €10 (about $12) a dose for each day that delivery is delayed, along with €10 million a day for each of four alleged breaches of contract.

The bloc is demanding 90 million doses from the company by the end of June, and another 180 million by the end of September. The proposed penalties, if accepted by the judge, would begin on July 1 and could quickly balloon into billions of euros.

The proposed penalty is much higher than the purchase price of the vaccine. The European Union has paid a little over €2 a dose, which AstraZeneca sold at cost when it was first introduced.

May 26,2021

https://www.nytimes.com/

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