U.S. to Ship Unused AstraZeneca Doses Abroad

The U.S. said its stockpile of AstraZeneca COVID-19 vaccine doses won't be used, as the vaccine isn't approved for use in the country.
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Shares of vaccine maker AstraZeneca (AZN) - Get Report rebounded Monday after the U.S. government said it planned to share its unused batch of COVID-19 vaccine with foreign countries. 

The U.S. has an inventory of 60 million doses of the AstraZeneca vaccine. 

"Given AstraZeneca is not authorized for use in the United States, we do not need to use AstraZeneca in our fight against COVID over the next few months," White House Press Secretary Jen Psaki said. 

The Food and Drug Administration will make sure the doses pass safety inspections before they are shipped abroad.

U.S. President Joe Biden spoke with India Prime Minister Narendra Modi and pledged "steadfast support" for the country of 1.4 billion as it is currently experiencing the worst COVID-19 outbreak in the world. 

AstraZeneca shares at last check were up 0.4% to $52.45 after spending much of the trading day in the red.

The European Commission said that it had sued AstraZeneca for not having a "reliable" supply plan under terms of the contract the company signed with the European Union.

AstraZeneca was supposed to make its "best reasonable efforts" to deliver 300 million doses of the vaccine to the EU by the end of June, including 180 million in the second quarter. 

But the company said in a statement in March that it would aim to deliver 100 million doses by June, with about 70 million delivered in the second quarter. 

Earlier this month, the EU's European Medicines Agency said the U.K.-based company's COVID vaccine was probably causing deadly blood clots in a small number of vaccinated people. 

But the agency said recently that the benefits of the vaccine outweigh the risks "in adults of all age groups."

Read More: AstraZeneca COVID Shot Suspended by More Countries on Clot Concerns