AstraZeneca has announced its decision to stop marketing its Covid-19 vaccine, Vaxzevria, in the European Union starting tomorrow. The British-Swedish company made this move due to a lack of demand and an oversupply of vaccines in the market. The European Commission confirmed that they will withdraw the marketing authorization for the drug at AstraZeneca’s request.
AstraZeneca stated that with numerous updated vaccines available for Covid-19 variants, there is now a surplus of vaccines on the market, leading to a decrease in demand for Vaxzevria. The company submitted the withdrawal request on March 5 and emphasized the important role Vaxzevria played in combatting the pandemic, saving over 6.5 million lives and supplying more than 3 billion doses globally in its first year of use.
This decision by AstraZeneca is a strategic move in response to the changing landscape of the vaccine market. With other vaccines available and a surplus of doses, the demand for Vaxzevria has decreased, prompting the company to take this step. Despite this decision, AstraZeneca acknowledges the impact that Vaxzevria has had in saving lives and supplying vaccines worldwide.
