AstraZeneca, Novavax, Pfizer, Others Lobby EU For Legal Protection Against COVID-19 Vaccine Liabilities: FT

AstraZeneca, Novavax, Pfizer, Others Lobby EU For Legal Protection Against COVID-19 Vaccine Liabilities: FT

COVID-19 vaccine makers are lobbying the European Union for protection against lawsuits, should problems arise with new therapies, the Financial Times reported Tuesday.

What Happened: Vaccines Europe, a division of the European Federation of Pharmaceutical Industries and Associations, which represents companies such as AstraZeneca plc AZN, GlaxoSmithKline plc GSK, Novavax, Inc NVAX, and Pfizer Inc PFE are warning of “inevitable” risks, according to a circulated memo from the body, FT noted.

“The speed and scale of development and rollout do mean that it is impossible to generate the same amount of underlying evidence that normally would be available through extensive clinical trials and healthcare providers building experience,” the memo stated.

Vaccine Europe’s memo called for a “comprehensive no-fault and non-adversarial compensation system,” and also wants to be exempted from civil liability.

The EU denied that it was negotiating contracts with drugmakers where its Product Liability Directive rules would not be applicable, FT reported.

The regional bloc reportedly said it was making a provision for its member states to indemnify the vaccine makers for “certain liabilities” through advance purchase deals in light of “high risks taken by manufacturers.”

Why It Matters: Several vaccine candidates are already in late-stage human testing or nearing such tests, including those from Inovio Pharmaceuticals Inc INO, Moderna Inc MRNA, Pfizer, and Johnson and Johnson JNJ.

The memo issued by the group of vaccine makers says some people are likely to suffer “adverse events” post-vaccination and the scale of the vaccination may lead to “numerous damage claims,” FT reported.

In the United States, the liability of vaccine makers may be limited in case of products developed to control the public-health crisis due to the 2005 Public Readiness and Emergency Preparedness Act, according to Reuters. 

AstraZeneca has reportedly already secured liability protection in most countries, although the company hasn't discloses any names.

The British drugmaker’s COVID-19 vaccine could be fast-tracked for approval in the United States ahead of the presidential elections in November.

Posted In: CoronavirusCoronavirus VaccineCovid-19European UnionBiotechNewsHealth CareGlobalGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.