The European Union failed in its attempt to force AstraZeneca (AZN) to speed deliveries of its Covid-19 vaccine or face huge fines, the latest round in a high-profile battle between the 27-member bloc and the drug maker.
In its 67-page ruling, a court in Brussels refused to require AstraZeneca to supply 120 million doses by the end of June, which the EU had demanded. However, the court set a schedule for 80 million doses to be delivered by Sept. 27 and will require AstraZeneca to pay $11.80 for every dose not delivered by that deadline. The court also criticized the drug maker for a “serious breach” of its contract with the EU after repeatedly failing to meet delivery terms.
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