AstraZeneca withdraws COVID-19 vaccine Vaxzevria
James Spargo | May 9, 2024 | News story | Sales and Marketing | AstraZeneca, COVID-19, Immunology, thrombosis with thrombocytopenia syndrome
UK-based pharmaceutical company AstraZeneca has announced that is it voluntarily withdrawing its COVID-19 vaccine Vaxzevria due to a drop in global demand. The withdrawal also comes after AstraZeneca admitted in court documents that the vaccine can cause thrombosis with thrombocytopenia syndrome (TTS). TTS is a rare side effect, characterised by the presence of blood clots with a low platelet count.
AstraZeneca is currently facing around 50 cases of TTS in the UK after initially contesting the claim that Vaxzevria causes TTS, however the company has since admitted that in “very rare cases” the side effect can occur.
AstraZeneca told The Telegraph in a statement: “We are incredibly proud of the role Vaxzevria played in ending the global pandemic. According to independent estimates, over 6.5 million lives were saved in the first year of use alone and over three billion doses were supplied globally. Our efforts have been recognised by governments around the world and are widely regarded as being a critical component of ending the global pandemic.”
Other major companies in the pharma sector have also reported loss relating to COVID-19 products. Pfizer reported a 20% year-over-year drop in revenue, attributing this to the slowdown of COVID-19 product demand. Similarly, BioNTech reported a revenue of $202m for the first quarter of 2024 – down from nearly $1.4bn during the same period in 2023 ‒ stating the decline was due to “lower commercial revenues” from its COVID-19 vaccine due to “endemic-level demand”.
James Spargo
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