Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

EU, Sanofi Talks on Covid-19 Vaccine Aim for Supply Next Year

Published 07/17/2020, 10:21 AM
Updated 07/17/2020, 10:45 AM
© Bloomberg. A technician prepares a sample inside a laboratory in Hong Kong.
SNY
-
AZN
-
MRNA
-
BNTX
-

(Bloomberg) -- European Union negotiations with Sanofi (NASDAQ:SNY) to secure a coronavirus vaccine aim for 300 million doses in the second half of 2021, according to a person familiar with the situation.

The deliberations are part of a European Commission outreach campaign to several drug companies -- Johnson & Johnson, Moderna (NASDAQ:MRNA) Inc., CureVac GmbH and BioNTech SE (NASDAQ:BNTX) are others -- seeking agreements on the advance purchase of any successful Covid-19 vaccines, according to the person, asking not to be indentified because the talks are confidential.

A Sanofi representative confirmed the number of doses being discussed. BioNTech declined to comment. CureVac didn’t immediately respond to an email request for comment. Johnson & Johnson and Moderna couldn’t immediately be reached.

The commission, the EU’s executive arm in Brussels, has also taken charge of a deal reached last month between four member countries and AstraZeneca (NYSE:AZN) Plc to distribute a possible Covid-19 vaccine. That accord was to provide 300 million to 400 million doses in stages starting from the end of 2020.

Europe is keen to avoid falling behind the U.S. or China in obtaining supplies of any immunization shot. The EU is seeking to mimic the U.S. Biomedical Advanced Research and Development Authority, which has entered into partnerships with vaccine companies in a bid to ensure quick availability for Americans of any successful candidates.

Reuters reported earlier on Friday that the EU is in negotiations for advance purchase deals of potential coronavirus vaccines with Moderna, Sanofi, Johnson & Johnson, BioNtech and CureVac. The report, citing two unidentified people in the EU, said any pact with Johnson & Johnson would be for the supply of 200 million doses.

A possible EU accord with Johnson & Johnson would also include options for two further batches, the official told Bloomberg News.

©2020 Bloomberg L.P.

© Bloomberg. A technician prepares a sample inside a laboratory in Hong Kong.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.