UK govt scraps COVID-19 vaccine supply deal with Valneva

13 September 2021

French vaccines developer Valneva’s (Euronext: VLA) shares slumped 39% to 12.14 euros this morning, after it announced that it has received a termination notice from the UK government (HMG) in relation to the supply agreement for its COVID-19 vaccine candidate, VLA2001.

The contract, which was worth up to £1.4 billion ($1.66 bilion), provides the HMG with the right to terminate. The government has alleged that the company is in breach of its obligations under the supply agreement, but Valneva strenuously denies this.

The UK had about 100 million doses on order, after it increased its request by 40 million in February.

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