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The pharmaceutical company AstraZeneca has announced that it will withdraw its successful coronavirus vaccine, Vaxzevria, from the market due to a decline in demand. The vaccine, developed in partnership with the University of Oxford, has been widely used worldwide with over 3 billion doses administered since January 4, 2021. Despite its success, the vaccine has not generated revenue for AstraZeneca since April 2023.
The decline in demand for Vaxzevria led AstraZeneca to initiate the withdrawal of its marketing authorizations within Europe. The European Medicines Agency also announced the withdrawal, meaning the vaccine is no longer authorized to be marketed or sold in EU countries. AstraZeneca will work with regulators in other countries to align on the next steps, including withdrawing marketing authorizations where there is no future commercial demand expected.
AstraZeneca expressed pride in the role Vaxzevria played in combating the global pandemic, mentioning that their efforts have been recognized by governments worldwide as a critical component in ending the pandemic. This is a developing story and will be updated as more information becomes available.
