The European Union (EU) and pharmaceutical company AstraZeneca have reached an agreement after a dispute on Covid-19 vaccine delivery schedules, announced a spokesperson here on Friday.
The settlement will ensure the delivery of the remaining vaccine doses still due to EU member states, and put an end to a lawsuit that the EU had launched against the pharmaceutical company before the Brussels Court, explained European Commission Spokesperson for Health Stefan De Keersmaecker, Xinhua reported.
By the end of the third quarter, 60 million doses will be delivered, and 75 million more by the end of the fourth quarter. Another delivery of 65 million doses is scheduled before the end of March 2022.
The company had already delivered 100 million doses to EU member states by the end of the second quarter of 2021.
The settlement provides a “firm commitment” by the company to honour the delivery schedule, and includes a capped rebate system in case it falls behind once again.
The rebate will be 10 per cent for a one-month delay, 25 per cent for two months, and 40 per cent for three months or more, De Keersmaecker said.
The agreement comes as the EU has reached a milestone in its COVID-19 vaccination campaign, with 70 percent of its adult population fully vaccinated as of August 31.