The British Pharma giant, AstraZeneca, reported last week, sales talking $275 Million for the opening financial quarter, despite facing legal action by the European Union over delivery shortfalls that are hampering innovation efforts in its largest market.
The firm has delivered nearly 70 million doses of vaccine which, it co-developed with Oxford University and, they have been instrumental in the rapid vaccination drives across the UK.
Defending AstraZeneca against the charges by the EU its CEO, Pascal Soriot stated, “I don’t think we ever overpromised…more than we thought we could deliver. What we communicated at the time was based on the capacity we had put together”, he was insistent that there were no regrets.
The EU has AstraZeneca as its second-largest vaccine supplier, right behind the US giant Pfizer, with AstraZeneca having $224 Million worth of Sales in its largest market.
The EU is undertaking legal action on the basis of, breach of an advanced purchase agreement. A charge that AstraZeneca outright dismissed and vowed to fight it out in the courts.
AstraZeneca had promised to deliver 50 Million doses to Europe by the end of April but, the EU contests that the amount is far lower than what should have been delivered.
