The European Union will make pharmaceutical companies respect contracts they have signed for the supply of Covid-19 vaccines, according to European Council President Charles Michel.
European Council President Chrles Michel said on Sunday that the European Union will 'make' comapanies respect the contracts for coronavirus vaccine supply. His comments have come amid statements from vaccine providers that suggest that there will be a delays in supply of the vaccines.Pfizer said last week that it was temporarily slowing supplies to Europe to make manufacturing changes that would boost output. On Friday, AstraZeneca also said that initial deliveries to the region will fall short because of a production glitch
European stocks sapped by economic data
Reuters
European stocks ended lower on Friday, closing out another lackluster week as business activity in the eurozone shrank this month after stringent lockdowns to control the COVID-19 pandemic shuttered many businesses.
The pan-European STOXX 600 fell 0.6 percent, but clung to a small 0.2 percent rise for a week, dominated by hopes for massive US stimulus under US President Joe Biden.
Travel and leisure stocks fell 2.5 percent, leading declines among sectors amid concerns over fresh travel restrictions in Europe. Other economically sensitive sectors like banks, oil and gas, and mining shed more than 1 percent.
IHS Markit’s flash composite purchasing mangers’ index (PMI) for the eurozone fell further below the 50 mark separating growth from contraction, hitting 47.5 this month, from last month’s 49.1.
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MILAN Italian Prime Minister Giuseppe Conte lashed out at suppliers of COVID-19 vaccines on Saturday, saying delays in deliveries amounted to a serious breach of contractual obligations.
Italy will have to rethink its whole vaccination program if supply problems persist, a senior health official warned on Saturday, after Rome was forced to cut its daily rollout of COVID-19 shots by more than two thirds.
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Pfizer Inc last week said it was temporarily slowing supplies to Europe to make manufacturing changes that would boost output.