Anglo-Swedish pharmaceutical company AstraZeneca is withdrawing its Covid-19 vaccine from the market. The decision comes as an abundance of newer vaccines targeting emerging variants has reduced demand for the company's original jab.
AstraZeneca expressed pride in the vaccine's (Vaxzevria) contribution to curbing the global pandemic but confirmed it was halting production due to the wide availability of updated vaccines. This marks a significant shift for a vaccine that was developed in record time with Oxford University scientists and played a crucial role in the early fight against the pandemic, with over 3 billion doses administered.
Unlike competitors Pfizer/BioNTech and Moderna, AstraZeneca's vaccine was initially offered on a non-profit, "at cost" basis. While praised for its impact, its rollout was also marked by controversy surrounding rare blood clotting incidents and supply disagreements with the European Union.
AstraZeneca estimates the vaccine saved over 6.5 million lives in its first year of use. However, the company's sales figures reflect the growing preference for mRNA-based vaccines from Pfizer/BioNTech and Moderna. In 2023, AstraZeneca's vaccine revenue declined drastically to just $12 million.
The company's EU marketing authorisation for Vaxzevria was withdrawn in March 2023, followed by this broader production halt. AstraZeneca began transitioning to for-profit vaccine deals in late 2021 as the pandemic shifted to an endemic phase.
Despite setbacks, including lack of US approval and safety concerns, AstraZeneca's commitment to combating the pandemic remains evident. The company is now working with regulators to conclude this chapter of its Covid-19 response.
