The pharmaceutical giant AstraZeneca on Tuesday said it is withdrawing its COVID-19 vaccine worldwide citing low demand and a “surplus of available updated vaccines” since the pandemic.
The vaccine — called Vaxzevria — was one of a number of shots released onto the market by pharmaceutical companies aimed at preventing people from catching COVID-19.
The company said it would proceed to withdraw Vaxzevria’s marketing authorizations within Europe.
AstraZeneca said that more than 3 billion doses were supplied globally and that “over 6.5 million lives were saved in the first year of use alone.”
“We will now work with regulators and our partners to align on a clear path forward to conclude this chapter and significant contribution to the COVID-19 pandemic.”
VACCINE MAKERS SEE STOCK PRICE BOOST ON BIDEN ADMIN COVID SHOT PUSH According to the Telegraph, AstraZeneca admitted for the first time in court documents that its COVID-19 vaccine can cause rare side effects such as blood clots and low blood platelet counts.
The admission came via a U.K. class action lawsuit that sought $125 million for almost 50 victims of AstraZeneca vaccine side effects.
London-listed AstraZeneca began moving into respiratory syncytial virus vaccines and obesity drugs through several deals last year after a slowdown in growth as COVID-19 medicine sales declined.
Due to a “surplus of available updated vaccines” since the pandemic and low demand, the pharmaceutical giant AstraZeneca announced on Tuesday that it is withdrawing its COVID-19 vaccine globally.
The vaccination, known as Vaxzevria, was one of several shots that pharmaceutical companies put on the market with the goal of shielding people from COVID-19.
The business declared that it would go ahead and remove Vaxzevria’s European marketing authorizations. In the United States, the vaccine was never approved. s. through the FDA.
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Vaxzevria, which is no longer produced or supplied, is in lower demand as a result of the company’s statement that “many, variant COVID-19 vaccines have since been developed there is a surplus of available updated vaccines.”.
According to AstraZeneca, over 3 billion doses were distributed worldwide, and “more than 6.5 million lives were saved in the first year of use alone.”. “.
The statement said, as reported by the Guardian, “Our efforts have been recognized by governments around the world and are widely regarded as being a critical component of ending the global pandemic.”. “We will now collaborate with partners and regulators to establish a clear course of action to close this chapter and make a major contribution to the COVID-19 pandemic. “.
A BIDEN ADMIN COVID SHOT PUSH HAS VACCINE MAKERS SEE A STOCK PRICE BOOST.
The COVID-19 vaccine may have infrequent adverse effects like blood clots and low blood platelet counts, which AstraZeneca has finally acknowledged in court documents, according to the Telegraph. Admission was made through a U. G. class action suit that sought $125 million for nearly 50 people who suffered adverse effects from an AstraZeneca vaccine.
In 2021, the European Medicines Agency added a warning to the product information regarding Guillain-Barré syndrome, listing it as an extremely rare side effect of Vaxzevria.
The Telegraph, which broke the story first, stated that the company filed its application to withdraw the vaccine on March 5 and that it went into effect on Tuesday.
Prior to Tuesday’s announcement, a number of nations had already ceased providing the vaccine. The Guardian reports that although its use was already being phased out starting in June 2021 due to the widespread availability of newer vaccines, it has not been available for use in Australia since March 2023.
AstraZeneca, a London-listed company, saw a slowdown in growth as sales of COVID-19 medications decreased, so it started to diversify into respiratory syncytial virus vaccines and obesity medications through a number of acquisitions last year.
