Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. India
  4. Bombay Stock Exchange
  5. AstraZeneca Pharma India Limited
  6. News
  7. Summary
    506820   INE203A01020


SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Key EU countries rebuff Biden on sharing COVID vaccine patents

05/07/2021 | 04:54pm EDT
European Social Summit in Porto

BRUSSELS (Reuters) - European countries distanced themselves on Friday from a proposal backed by U.S. President Joe Biden to waive patent rights on coronavirus vaccines, arguing that key to ending the COVID-19 pandemic was making and sharing vaccines more quickly.

French President Emmanuel Macron said the question of sharing patents was not the issue of the day, and called out Britain and the United States for blocking the export of vaccines and their ingredients to the wider world.

Leaders of the 27-nation bloc were due to discuss the suggestion to share vaccine intellectual property at a two-day summit that opened in the Portuguese city of Porto on Friday, but they were divided on its usefulness.

Experts say waivers could take years to negotiate, and would not address the immediate need to manufacture more doses fast.

"What is the current issue? It is not really about intellectual property. Can you give intellectual property to laboratories that do not know how to produce and will not produce tomorrow?" Macron said as he went into the summit.

"The main issue for solidarity is the distribution of doses," he said, adding that France was working hand in hand with Germany on the issue. Berlin expressed its opposition to the idea on Thursday.

The EU, which is among the biggest producers of vaccines in the world, is also the main exporter, with 200 million doses already shipped outside the bloc. The United States and Britain have not exported any of the vaccines they have made.

Macron lashed out at both.

"In order for the vaccine to circulate, the ingredients and the vaccines themselves cannot be blocked. Today the Anglo- Saxons block many of these ingredients and vaccines," he said.

European Commission President Ursula von der Leyen echoed that, telling a news conference after the first day of the Porto summit that the EU should be open to a discussion on the patents but sharing the technology was no quick remedy for the pandemic.

"In the short and medium term, the IP waiver will not solve the problems, it will not bring a single dose of vaccine in the short and medium term," she told a news conference.

Biden on Wednesday backed a call from India and South Africa to waive patent protection for COVID-19 vaccines, responding to pressure from Democratic lawmakers and more than 100 other countries, but angering pharmaceutical companies.

Some EU officials argue that it could take two years to agree on the waivers in the World Trade Organization (WTO), most likely making it irrelevant to the current pandemic.


EU leaders are likely to hear advice from the bloc's executive, the European Commission, that a waiver would not help boost production, especially in poorer countries, as the manufacturing process requires advanced technologies and facilities, officials said.

The U.S. firm Moderna waived patent rights in October on its vaccine, which uses using the latest mRNA technology, but no other firm has yet announced that it will try to copy the shot.

Germany, home to BioNTech, which owns a patent on another mRNA vaccine developed jointly with Pfizer of the United States, opposes waivers, while Italy supports them, EU officials said.

While the pandemic rages, the chances are high that even more dangerous new variants of the coronavirus will emerge.

The pharmaceutical industry argues that the most expedient approach is to overcome existing production bottlenecks, and sell or donate vaccines to countries around the world. Several EU countries and institutions share that view.

"No one we will be safe until we all are. If vaccination takes place only in developed countries, our victory over COVID-19 will only be short-lived. We are seeing how quickly the virus is mutating, creating new variants that entail new challenges," the leaders of Belgium, Sweden, France, Denmark and Spain said in a joint letter to the Commission.

"Vaccines have become security policy and the EU cannot afford to lag behind; to this end, an increased European production capacity will be a key priority," they said.

(Additional reporting by Marine Strauss and Sabine Siebold, Editing by William Maclean)

By Jan Strupczewski and John Chalmers

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PHARMA INDIA LIMITED 0.05% 3778.35 End-of-day quote.-18.24%
ASTRAZENECA PLC 0.70% 8340 Delayed Quote.13.87%
BIONTECH SE -0.53% 238.55 Delayed Quote.192.63%
DOW JONES AFRICA TITANS 50 INDEX -0.45% 548.97 Delayed Quote.3.92%
DOW JONES SOUTH AFRICA(ZAR) -0.31% 1956.37 Delayed Quote.11.27%
MODERNA, INC. 0.85% 218.85 Delayed Quote.109.49%
PFIZER, INC. -1.30% 40.15 Delayed Quote.9.07%
S&P AFRICA 40 INDEX -0.52% 179.6 Delayed Quote.4.35%
05/26ASTRAZENECA PHARMA INDIA  : Net Profit Soars in Fiscal Q4
05/07Key EU countries rebuff Biden on sharing COVID vaccine patents
04/20ASTRAZENECA PHARMA INDIA  : Launches Asthma Treatment Drug in India
03/11ASTRAZENECA PHARMA INDIA  : Astrazenca Pharma India Receives DGCI Import and Mar..
01/03India's approval of homegrown vaccine criticised over lack of data
01/03India gives final urgent-use approval to AstraZeneca, local COVID vaccines
01/02TIMELINE : India's coronavirus vaccine approved by drugs experts
01/02India's drugs experts approve AstraZeneca, local COVID vaccines
01/02TIMELINE-India's coronavirus vaccine approved by drugs experts
01/02ASTRAZENECA PHARMA INDIA  : India likely to approve two-dose regimen for COVID v..
More news
Sales 2021 8 136 M 111 M 111 M
Net income 2021 933 M 12,7 M 12,7 M
Net cash 2021 3 402 M 46,5 M 46,5 M
P/E ratio 2021 80,7x
Yield 2021 0,07%
Capitalization 94 459 M 1 290 M 1 290 M
EV / Sales 2020 6,90x
EV / Sales 2021 8,83x
Nbr of Employees -
Free-Float 16,4%
Duration : Period :
AstraZeneca Pharma India Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus -
Number of Analysts
Average target price
Last Close Price 3 778,35 
Spread / Highest target -
Spread / Average Target -
Spread / Lowest Target -
Managers and Directors
Gagan Singh Bedi Managing Director & Executive Director
Rajesh Marwaha Chief Financial Officer & Executive Director
Narayan Keelveedhi Seshadri Non-Executive Chairman
Pratap Rudra Secretary, Compliance Officer & Legal Counsel
Revathy Ashok Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
JOHNSON & JOHNSON4.82%434 405
ROCHE HOLDING AG10.68%328 612
PFIZER, INC.9.07%224 747
NOVARTIS AG-0.39%208 035
ABBVIE INC.7.72%203 857