EU seeks to prevent U.S. takeovers of coronavirus research firms - (This is Money via NewsPoints Desk)

  • According to an unnamed diplomat, EU leaders will on Tuesday will discuss how to prevent hostile US takeovers of EU-based research firms that are working on drugs and vaccines against COVID-19, as reported in This is Money.

  • The talks come a day after the European Commission pledged financial support to Germany-based CureVac amid reports the Trump administration was trying to persuade it to move its research to the US.

  • Specifically, the Commission promised €80 million to CureVac, which the EU executive said had developed new technology that could slash costs for vaccines and provide a rapid response to COVID-19.

  • "This is not just about CureVac. Many other companies are concerned," an EU official said, adding "there is very intense contact between companies and member states. We are looking at a way forward together."

  • Meanwhile, CureVac said late on Monday it had not received a takeover offer from the US.

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