BRUSSELS (Reuters) – The European Commission and vaccine maker Valneva have reached a deal which greatly reduces the supply to the EU of COVID-19 vaccines produced by the French biotech company, the EU executive said in a statement on Wednesday.
The EU and Valneva signed a deal in November for the supply of up to 60 million doses, of which about 27 million is for this year, but delays in the approval process and a fall in demand caused by excess supply and a slowdown in vaccinations led EU states to seek amendments to the original contract.
Under the revised deal, Valneva commits to supplying 1.25 million doses to EU countries, which will be delivered in August and September, the Commission said.
An EU official said the revision of the contract includes an option for the purchase of another 1.25 million vaccines before the end of the year.
Valneva’s vaccine, which is based on an inactivated virus similar to most flu shots, was granted approval by the EU drugs regulator last month.
Britain cancelled its Valneva vaccine contract in 2021, although the company has secured approvals in Bahrain and the United Arab Emirates.
(Reporting by Francesco Guarascio @fraguarascio; editing by Foo Yun Chee)
