(Valneva) Specialty vaccine maker Valneva SE suffered a blow after the UK exercised a provision allowing it to terminate a supply deal for Covid-19 vaccines.
The UK government cites a breach of obligations under the supply agreement by Valneva in the contract termination.
Valneva has denied the breach of obligations. The agreement allows the UK government to terminate the supply for Valneva’s vaccine candidate VLA2001.
The termination of contract happens when Valneva just announced its Phase 3 results for its vaccine candidate which will be available in the fourth quarter.
Valneva projects an initial approval of VLA2001 to occur in late 2021. The company expects to seek other potential customers for its vaccine candidate.
VLA: EPA is down -31.53%.
