EU sues vaccine developer while USA donates excess supplies

As anticipated, the European Union launched a legal action against AstraZeneca (LSE: AZN) in the Belgian courts on Friday, alleging the British firm failed to live up to its contractual obligations on vaccine supplies.

With initial hearings due to take place as early as Wednesday, AstraZeneca said the litigation was without merit, and that it would “strongly defend itself in court.”

European leaders have been frustrated by a slow vaccine rollout, leading to pressure from EU member states and questions over the trading bloc’s vaccine strategy.