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Valneva’s anti-covid vaccine: the European Commission is considering terminating its contract – Coronavirus

Valneva “has received from the European Commission a notice of intent to terminate the supply agreement,” said the group based in Saint-Herblain, near Nantes.

The contract signed between the European Commission and Valneva gave the Commission the right to terminate it if the vaccine developed, called VLA2001, had not received marketing authorization from the European Medicines Agency ( EMA) as of April 30, 2022, the group recalls.

But “under the terms of the contract, Valneva has 30 days from May 13, 2022 to obtain marketing authorization or propose a plan to remedy the situation in an acceptable manner”, specifies Valneva.

The group “will work together with the European Commission and the member states participating in the agreement to agree on such a plan and make VLA2001 available to member states that wish to obtain the vaccine”, he adds.

The announcement of the group caused a further tumble of the title on the Paris Stock Exchange: it lost 20.17% to 9.52 euros around 9:25 a.m. Since January 1, it has fallen by more than 60%.

A decision deemed “regrettable” by Valneva

At the end of April, Valneva had received a new list of questions from the EMA. In Monday’s statement, the group’s chief executive, Thomas Lingelbach, said he “answered these questions on May 2” and “believes that his submission provides sufficient answers to the remaining questions”. If the EMA “accepts these answers”, Valneva “could obtain a positive opinion no later than June 2022”.

Thomas Lingelbach describes the decision of the European Commission as “regrettable”, “especially as we continue to receive messages from Europeans who are looking for a more traditional vaccine solution”. “Valneva continues to believe that its vaccine candidate VLA2001 can still make an important contribution to the fight against covid-19 and complement existing vaccines,” he adds.

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Valneva’s vaccine is based on an inactivated virus. Compared to the anti-covid vaccines authorized in the EU, it is a more traditional technology than the Pfizer/BioNTech or Moderna vaccines, with messenger RNA, and, to a lesser extent than those of AstraZeneca and Johnson & Johnson, with viral vector, or that of Novavax, with recombinant protein.

Valneva’s vaccine received conditional marketing authorization in the United Kingdom in April 2022 as well as authorizations for emergency use of the vaccine from the United Arab Emirates Ministry of Health on May 13, and from the Kingdom of Bahrain on February 28, recalls the group.

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