Court Rules In Favor Of AstraZeneca Over Delay In COVID-19 Shot Deliveries

AstraZeneca Plc (NASDAQ:AZN) claims victory in a court tussle with the European Union over allegations that the company was not producing shots fast enough, thus missing COVID-19 vaccine deliveries.
The company had planned 120 million vaccine doses cumulatively by the end of June 2021 and 300 million doses by the end of September.
AZN intends to deliver more than 70 million by the end of the month.
A judge ordered delivery of 80.2M doses by the end of September.
The judgment also acknowledged that the company experienced substantial difficulties in producing the vaccine, which explains the delay.
Last month, the E.U.’s lawyer had asked the court to force AZN to pay €10 per dose for each day of delay as compensation for breaching the E.U. contract.
Price Action: AZN shares are down 0.75% at $57.91 during the premarket trading session on the last check Friday.