The UK government has banned an agreement to buy at least 100 million COVID-19 vaccines from a pharmaceutical company in France after Valneva claimed the company had violated its rules.
Valneva shares resigned Monday in a report from the United Kingdom, the only country that has fully committed to buying the company’s vaccine. The stock was down 40% at 12.02 euros ($ 14) during the day trading in Europe, falling to 11 euros ($ 13).
The UK contributed to the start of the Valneva project, agreeing to set aside millions of pounds on production in Scotland as part of a joint venture announced last September.
The UK also agreed to buy 100 million vaccines, choosing another 90 million. The vaccine is being tested late and has not yet been approved by the testing authority.
The British government “claims the company is violating its terms of reference, but the company denies this,” Valneva said in a statement.
“Valneva has worked hard, and in doing everything possible, in partnership with (the government) including investing more and more in response. [the government’s] requests for various vaccines. ”
Prime Minister Max Blain’s spokesman has said he will not comment on the government because of business awareness. Health officials will respond later, he said.
Valneva began sending notifications of her vaccine, called VLA2001, to UK medical regulators last month. The company, which is based outside Nantes in western France, said it hopes to complete the fourth-quarter vaccine test, with its first approval later this year.
“Valneva remains committed to developing VLA2001 and will intensify its efforts with other potential customers to ensure that its unused vaccine can be used in the fight against the epidemic,” the company said.
Before earning $ 108 million in sales earlier this year, Valneva told investors that they had to rely on all the crops in Scotland and one in Sweden to meet the requirements of the UK agreement and any future agreement. As a result, any restrictions on sending vaccines to or from the European Union could impede the fulfillment of those promises.
The EU earlier this year threatened to ban the export of vaccines in a dispute with drug manufacturer AstraZeneca over the issue of providing COVID-19 shooting.
The Valneva vaccine has taken on a far more advanced technology than Western-approved vaccines and is the only vaccine used by currently inactive coronaviruses being tested in Europe.
The company said the technology could offer benefits based on “security, cost, ease of production and distribution,” and “flexibility to prevent the spread of the virus”.
Scottish Health Secretary Humza Yousaf said the announcement was “painful” for the Valneva factory in Livingston, which launched the vaccine in January. The UK government’s investment in investments is expected to create 100 new, high-paying jobs for the plant.
“We are committed to, and support the company, to secure and secure a future in Livingston; we hope this will be with Valneva,” Yousaf told the BBC. We hope to see you soon. “
Termination of the agreement is not expected to affect the immunization program in the UK. Even without the Valneva vaccine, the government has found an excessive amount of vaccines for the general public.
About 81 out of 16 people in the UK have already been vaccinated, according to recent government statistics.