AstraZeneca settles vaccines dispute with EU

AstraZeneca and the EU have patched up their differences over vaccines.

The drugmaker has reached agreement with the European Commission on delivering remaining doses.

It has committed to delivering 60 million shots by the end of the third quarter, and 75 million by the end of the following quarter.

Now the agreement also ends pending litigation by Brussels.

The European Commission launched the legal action in April.

It said the firm hadn't honoured commitments on vaccine supplies, and had no reliable plan to ensure deliveries.

The new agreement allows for rebates in the event of delays.

And it lifts a cloud that had hung over AstraZeneca.

Its cheap and easy-to-use vaccine has been dogged by problems, including the legal dispute and concerns over side-effects.

Shares in the drugmaker eked out gains on Friday (September 3) morning, beating a flat start for the broader market.

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