Biotech
Wednesday, May 8th, 2024 5:13 pm EDT
Key Points
- AstraZeneca plans to withdraw its Covid-19 vaccine, Vaxzevria, due to declining demand, as newer vaccines targeting specific Covid variants have become available.
- Developed with the University of Oxford, Vaxzevria was one of the earliest Covid-19 vaccines globally, with the U.K. initiating its rollout in January 2021.
- Despite being deemed safe and effective, concerns about rare side effects, such as blood clots, have been raised. AstraZeneca voluntarily withdrew its marketing authorization in the EU in March 2024, and it plans to collaborate with regulators and partners to determine its next steps.
AstraZeneca announced its decision to withdraw its Covid-19 vaccine, Vaxzevria, citing a decline in demand as new vaccines targeting specific Covid variants have emerged. Developed in collaboration with the University of Oxford, Vaxzevria was among the first Covid-19 vaccines available globally, with the U.K. initiating its rollout in January 2021. However, the emergence of multiple variant-specific vaccines has led to a surplus of updated options, resulting in decreased demand for Vaxzevria. Despite its effectiveness, concerns regarding side effects, particularly rare cases of blood clots, have been raised. AstraZeneca voluntarily withdrew its marketing authorization in the European Union in March 2024. The company expressed pride in the vaccine’s contribution to saving lives, with estimates suggesting over 6.5 million lives saved and three billion doses supplied globally in its first year of use. Alongside its Covid-19 efforts, AstraZeneca continues to focus on developing treatments for various illnesses, including cancer, as demonstrated by its recent acquisition of Fusion Pharmaceuticals Inc, specializing in cancer treatments.
For the full original article on CNBC, please click here:https://www.cnbc.com/2024/05/08/astrazeneca-to-withdraw-covid-vaccine-worldwide-citing-drop-in-demand.html
