AstraZeneca withdraws COVID-19 vaccine

By Steve Goldstein

AstraZeneca said it's withdrawing its COVID-19 vaccine worldwide, with the company saying there's a surplus of available vaccines that are available.

On Tuesday, the European Medicines Agency said the vaccine was no longer authorized for use after the voluntary withdrawal.

AstraZeneca (AZN) (UK:AZN) said its vaccine was a "critical component of ending the pandemic." It was developed with Oxford University and produced by the Serum Institute of India as Covishield.

Sales of what AstraZeneca called Vaxzevria were just $12 million last year, compared to $1.88 billion in 2022.

The drugmaker's vaccine - as well as the similar Johnson & Johnson vaccine - has been linked with blood clots, according to the European Medicines Agency. This could be fatal in some cases. AstraZeneca is facing a class-action lawsuit in the U.K., in which damages of up to GBP100 million are being sought, according to reports.

-Steve Goldstein

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05-08-24 0847ET

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