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AstraZeneca plc (AZN) Welcomes European Green Light For Its Coronavirus Vaccine

Coronavirus vaccine developed by AstraZeneca plc (NASDAQ: AZN) and Oxford University have been approved by the European Medicines Agency for people aged 18 and over.

Particularly, the European Medicines Agency (EMA) suggests that the AstraZeneca vaccine against coronavirus has been evaluated as safe and effective, and unanimously recommends its conditional approval by the European Commission.

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Since the end of December, several vaccines have been approved and used in the United Kingdom, the most common of which is offered in conjunction with the Pfizer / BioNTech vaccination, which is approved for use in the European Union.

AstraZeneca’s vaccine approval comes at a particularly challenging time for the European Union, as delays in vaccine deliveries by pharmaceutical companies make it difficult for members of the EU to continue their vaccination programs.

This approval came when the EU and AstraZeneca have been at odds over a vaccine delivery agreement between the Anglo-Swedish pharmaceutical company and the EU based on production problems at one of its facilities.

Last August, an agreement was signed between the European Commission and AstraZeneca that covered 300 million doses of a new coronavirus vaccine, with a further option for 100 million doses.