AstraZeneca has been granted protection from future product liability claims related to its COVID-19 vaccine hopeful by most of the countries with which it has struck supply agreements, a senior executive told Reuters.
FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the New York Stock Exchange in New York, U.S., April 8, 2019. REUTERS/Brendan McDermid/File Photo
“This is a unique situation where we as a company simply cannot take the risk if in ... four years the vaccine is showing side effects,” Ruud Dobber, a member of Astra’s senior executive team, told Reuters. The United States, however, already has a law to exclude tort claims from products that help control a public-health crises in the form of the 2005 Public Readiness and Emergency Preparedness, or PREP Act.
Astra’s deals differ from most rivals because it has secured government backing for production and development efforts, while competitors such as GlaxoSmithKline are looking to negotiate a price for a finished product, contingent on approval.
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