Valneva: potential termination of Covid contract by Brussels
(CercleFinance.com) - Valneva has announced that it has received a notice of intent from the European Commission to terminate the supply agreement for its Covid-19 vaccine candidate, VLA2001, as it was entitled to do in the absence of a marketing authorisation (MA) at the end of April.
The company has 30 days from 13 May to obtain a marketing authorisation or propose a plan to remedy the situation in an acceptable manner and make VLA2001 available to those Member States that still want the vaccine.
Following such discussions with the Commission and Member States concerned, Valneva will reconsider its financial forecasts for 2022. In the event of an effective termination, the company would not be obliged to return the advance payments received.
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The company has 30 days from 13 May to obtain a marketing authorisation or propose a plan to remedy the situation in an acceptable manner and make VLA2001 available to those Member States that still want the vaccine.
Following such discussions with the Commission and Member States concerned, Valneva will reconsider its financial forecasts for 2022. In the event of an effective termination, the company would not be obliged to return the advance payments received.
Copyright (c) 2022 CercleFinance.com. All rights reserved.