AstraZeneca announces global withdrawal of Covid-19 vaccine

Covid-19 vaccine withdrawal: AstraZeneca announced on Tuesday its decision to globally withdraw its COVID-19 vaccine, citing an abundance of available updated vaccines amid the ongoing pandemic.

The pharmaceutical company stated its intention to revoke the marketing authorisations of the vaccine Vaxzevria within Europe.

"With the development of multiple variant COVID-19 vaccines, there is now an excess supply of updated alternatives," remarked the company, noting a consequent decrease in demand for Vaxzevria, which is currently no longer in production or distribution.

Media reports have highlighted AstraZeneca's acknowledgement, documented in court filings, of side effects associated with the vaccine, including blood clots and reduced blood platelet counts.

The application for withdrawal was submitted on March 5 and officially took effect on May 7, as reported by the Telegraph, which broke the story.

Following a slowdown in COVID-19 medication sales, London-listed AstraZeneca diversified its focus towards respiratory syncytial virus vaccines and obesity treatments through various acquisitions last year.

(With Reuters inputs)