As demand declines, AstraZeneca will discontinue the COVID vaccination internationally

Due to a "surplus of available updated vaccines" since the pandemic, AstraZeneca said on Tuesday that it has started the global withdrawal of its COVID-19 vaccine.

Additionally, the business said that it will remove the marketing authorizations for the vaccine Vaxzevria in Europe.

The business stated that there is an abundance of updated COVID-19 vaccines accessible due to the development of many variants. As a result, there is less need for Vaxzevria, which is no longer produced or provided.

The Anglo-Swedish pharmaceutical company reportedly acknowledged in court filings that the vaccination had adverse effects, including low blood platelet counts and blood clots.

The Telegraph, which broke the story first, stated that the company applied on March 5 to remove the vaccine, and it took effect on May 7.

After slowing down its expansion as sales of COVID-19 medications decreased, AstraZeneca started stepping into the obesity treatment market and respiratory syncytial virus vaccines through several acquisitions last year.

(Sources: investing.com, reuters.com)