OAN’s Brooke Mallory
2:51 PM – Thursday, May 9, 2024
UK-based pharmaceutical company AstraZeneca announced on Wednesday that it would halt production of its coronavirus vaccine, citing “reduced demand.”
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According to Companiesmarketcap.com, AstraZeneca is currently the sixth largest pharmaceutical company in the world. report.
A statement from an AstraZeneca representative said demand for AstraZeneca’s Vaxebria vaccine began to decline as “new vaccines that address specific new coronavirus mutations” entered the market.
“Several mutant coronavirus vaccines have since been developed, resulting in a surplus of the latest vaccines available. ” said in a statement.
In a rather vague statement, AstraZeneca declared that the company will now work with partners and regulators to determine both the course of action and the “path forward.”
AstraZeneca voluntarily withdrew its marketing license in the European Union in March 2024 to stop promoting the vaccine.
Millions of people around the world have been vaccinated with the Vaxzevria vaccine, which was developed in conjunction with the University of Oxford. It was one of the first COVID-19 treatments released on the market during the pandemic.
The United Kingdom was the first to offer a vaccine in January 2021, nearly a year after the World Health Organization (WHO) first characterized the new coronavirus.
AstraZeneca’s product has raised questions about side effects after many people started developing problems related to the shot, including blood clots and “low platelet counts.”
Jamie Scott, an IT engineer and father of two, is one of the plaintiffs in the lawsuit brought by AstraZeneca. After receiving the vaccine in April 2021, he developed a blood clot that caused permanent brain damage.
“AstraZeneca initially denied any causal link between the vaccine and this particular side effect, but later acknowledged in court documents that the vaccine could cause TTS,” the report said. Business Insider India.
But on Wednesday, the drugmaker still expressed pride in its vaccine’s “contribution” to the pandemic.
“According to independent estimates, more than 6.5 million lives were saved in the first year of use alone, and more than 3 billion doses were distributed worldwide,” the statement said.
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