Vexing vaccine delays hit drug firms

AstraZeneca and Pfizer are being attacked by the EU over what it claims are delays in delivering the Covid vaccine.

Drug companies AstraZeneca and Pfizer are being attacked by the EU over vaccine delivery delays that could slow the EU’s recovery from Covid-19, says Julia Horowitz on CNN. Pfizer’s problems look likely to be resolved soon, however, while AstraZeneca says “considerably fewer” doses will be supplied for some time. With AstraZeneca’s jab due to be approved by Europe’s regulator shortly, “mounting” anger means that Brussels and several countries are “threatening to take legal action and introduce export controls on doses produced in the bloc” (see page 8).

AstaZeneca’s announcement will prolong the “misery and pain” of Covid-19, says Aimee Donnellan on Breakingviews. Still, problems were “inevitable” as the vaccine, developed by the University of Oxford, is made “through a complicated biological process, requiring constant fine-tuning and vast 4,000-litre fermenters, which are in short supply”.

AstraZeneca’s problems are good news for the jab produced by Janssen, Johnson & Johnson’s European vaccine division, which the EU has pre-ordered in large amounts, says the Irish Times. Like the AstraZeneca jab, it doesn’t require “ultra-cold storage temperatures”; but unlike all its major competitors, it also involves a single injection, “greatly simplifying... a national vaccine rollout”. With trial data expected in the next few days, the vaccine is set to receive approval from the US Food and Drug Administration sometime in February, with the nod from the European Medicines Agency expected not long afterwards. 

Recommended

What is Rihanna's net worth?
Entrepreneurs

What is Rihanna's net worth?

Rihanna became the youngest self-made billionaire in 2022. Here’s how she made her money.
2 Jun 2023
Best savings accounts – June 2023
Savings

Best savings accounts – June 2023

Interest rates have been creeping up - we look at the best savings accounts on the market right now.
2 Jun 2023
Share tips of the week – 2 June
Investments

Share tips of the week – 2 June

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
2 Jun 2023
The best one-year fixed savings accounts - June 2023
Savings

The best one-year fixed savings accounts - June 2023

You can now earn 5% on 1 year fixed savings accounts - the best rate seen in 14 years. We have all the latest rates available now.
2 Jun 2023

Most Popular

June’s NS&I Premium Bond prize draw - are you this month’s millionaire?
Savings

June’s NS&I Premium Bond prize draw - are you this month’s millionaire?

Two fortunate NS&I Premium Bond winners are now millionaires. Find out here if you’re one of them.
1 Jun 2023
3 renewable energy stocks to buy
Investments

3 renewable energy stocks to buy

These stocks look poised to benefit as the world transitions to a net zero economy.
31 May 2023
Housing slowdown ‘deeper than anticipated’ as property sales slump
House prices

Housing slowdown ‘deeper than anticipated’ as property sales slump

New data from HMRC shows a fall in property sales - now experts predict a delay to the housing recovery
1 Jun 2023