Health

EU plans to scrap Valneva’s COVID vaccine deal

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The European Commission intends to end the contract to buy French-Austrian drug manufacturer Valneva COVID while the shot has not yet been approved for sale, the company said on Monday.

The European Union (EU) has signed a memorandum of understanding (MoU) for the purchase of 60 million doses of VLA2001 vaccine – which uses traditional non-activated vaccine technology – in 2022 and 2023.

But the contract has a clause that allows Brussels to cancel it pact if the vaccine is not available green light from the European Medicines Agency to April 30.

The company has 30 days from May 13 to get permission to advertise or recommend a “acceptable repair system”, Valneva said in a statement.

“The Company will work with EC (European Commission) and EC member states to approve the reform plan and provide VLA2001 to member states that are still interested in adopting it,” the statement said.

Valneva shares collapsed in the Paris stock market after its announcement.

Valneva chief executive Thomas Lingelbach said: “The EC decision is particularly disappointing as we continue to receive messages from Europeans seeking more traditional immunizations.”

Valneva received further inquiries from the pharmaceutical board last month and the company said it had submitted a response on May 2 that it “answered” correctly.

The company She said she would expect a positive response from the commission by June if she agreed with her response.

Under the contract, Valneva said it would not have to repay the money paid by the agency if the deal expired.

The UK’s drug authorities approved the vaccine last month. Bahrain also agreed.


Valneva has received the first COVID-19 vaccine approval


© 2022 AFP

hintThe EU plans to repeal Valneva’s COVID vaccine (2022, May 16), which was revoked on 16 May 2022 from https://medicalxpress.com/news/2022-05-eu-scrap-valneva-covid-vaccine. html

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EU plans to scrap Valneva’s COVID vaccine deal Source link EU plans to scrap Valneva’s COVID vaccine deal

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