Global pharmaceutical company AstraZeneca has withdrawn its COVID-19 vaccine, Vaxzevria, citing a surplus of updated vaccines and a decreased demand. The decision comes as multiple variant-specific vaccines have been developed, leading to a shift in vaccine preferences.
Reports suggest that AstraZeneca had previously acknowledged, in court documents, the vaccine’s potential side effects, including blood clots and low blood platelet counts. The company’s application to withdraw the vaccine was submitted on March 5 and came into effect on May 7.
London-listed AstraZeneca, responding to the decline in COVID-19 medicine sales, has been diversifying its portfolio by venturing into respiratory syncytial virus vaccines and obesity drugs through various strategic deals over the past year. This move reflects the company’s efforts to adapt to changing market dynamics and explore new avenues for growth.
