In asignificant development, AstraZeneca (AZN.L) has declared the worldwide withdrawal of its COVID-19 vaccine, Vaxzevria, citing an abundance of alternative vaccine options available amidst the ongoing pandemic. This decision also encompasses the withdrawal of marketing authorizations for Vaxzevria within the European region.
The pharmaceutical giant disclosed that the emergence of multiple variant COVID-19 vaccines has led to a surplus of updated options, consequently reducing the demand for Vaxze
vria. This move comes amidst previous reports acknowledging side effects such as blood clots and low blood platelet counts associated with the vaccine, as revealed in court documents.
The application for withdrawal was submitted on March 5 and officially took effect on May 7, as confirmed by sources. The decision marks a strategic shift for AstraZeneca, which has been actively diversifying its focus following a slowdown in COVID-19 medicine sales. Last year, the London-listed company ventured into respiratory syncytial virus vaccines and obesity drugs through strategic deals.
Stay tuned for further updates on this developing story.
