It is of the view that they have misled governments to stockpile vaccines.
Paul Flynn, Vice Chairman at the Council of Europe Health Committee, said that European countries, including Britain, have bought billions of dollars worth of medicines from Baxter, GlaxoSmithKline, and Sanofi-Pasteur. Some of the agreements do not allow governments to get out of buying vaccines.
Now, the governments are saddled with excess vaccines, and they are planning to sell them to other countries. Excess supply over demand will push down the prices as well.
The Council is likely to probe the pharmaceutical companies based on some evidence. It is in the process of gathering arguments along with the legal standards organisation.