AstraZeneca Halts Marketing of Covid-19 Vaccine in EU Due to Oversupply and Decreased Demand

AstraZeneca has announced its decision to halt the marketing of its Covid-19 vaccine, Vaxzevria, in the European Union starting tomorrow. The British-Swedish company made this announcement in a statement. According to the European Commission, they will withdraw the marketing authorization for the drug at AstraZeneca’s request, citing a lack of demand and an oversupply of vaccines in the market.

The company stated that with the availability of numerous updated vaccines for Covid-19 variants, there is now a surplus of vaccines on the market, leading to a decrease in demand for Vaxzevria, which is no longer being produced or supplied. AstraZeneca submitted the withdrawal request in Brussels 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.

It is clear that 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, demand for Vaxzevria has decreased prompting them to take this step. However, despite this decision, AstraZeneca acknowledges the impact that Vaxzevria has had in saving lives and supplying vaccines worldwide.