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How does the Curevac defeat affect the financial world?
According to a report from www.morgenpost.de, Curevac suffered a legal defeat this week in a dispute over a vaccine patent. In response, the FDP is considering calling for the federal government to exit the pharmaceutical company Curevac. After the outbreak of the COVID-19 pandemic, the German state invested in Curevac, but the company has not yet produced a commercially approved corona vaccine and is in the red. The federal government's share in Curevac is currently around 12 percent. Curevac recently suffered a severe defeat in court when the Federal Patent Court declared the company's basic corona vaccine patent invalid. This was in response to a…
How does the Curevac defeat affect the financial world?
According to a report by www.morgenpost.de, Curevac suffered a legal defeat this week in a dispute over a vaccine patent. In response, the FDP is considering calling for the federal government to exit the pharmaceutical company Curevac. After the outbreak of the COVID-19 pandemic, the German state invested in Curevac, but the company has not yet produced a commercially approved corona vaccine and is in the red. The federal government's share in Curevac is currently around 12 percent.
Curevac recently suffered a severe defeat in court when the Federal Patent Court declared the company's basic corona vaccine patent invalid. This came in response to a lawsuit filed by competitor Biontech against Curevac. The company's shares then lost a good third of their value.
The federal government bought into Curevac in June 2020 for around 300 million euros and thus acquired around 16 percent of the shares. During the race to develop vaccines against the coronavirus, Curevac shares were temporarily trading at a price of just under 100 euros, which made the federal government's shareholding worth billions. However, after the recent price decline, the government shares have lost a good half of their original value.
These developments could have significant implications for both the federal government and the pharmaceutical and biotech industries. The federal government could suffer financial losses if it divests itself of its stake in Curevac. In addition, the question of Curevac's success in vaccine development calls into question the company's position in the industry and could affect investor confidence.
It remains to be seen how the situation surrounding Curevac will develop and what measures the federal government will take to mitigate the potential impact on the market and the industry. The decision to divest from a federal stake would increase pressure on Curevac to correct course and restore investor confidence.
Read the source article at www.morgenpost.de