Shot in the arm for AstraZeneca

Shot in the arm for AstraZenica

ASTRAZENICA: Covid-19 vaccine withdrawn worldwide Photo credit: CC/Rwendland

AstraZeneca added more than £3 billion (€3.48 billion) to its value as it began withdrawing its Covid-19 vaccine worldwide on May 7.

Shares in the Anglo-Swedish pharmaceuticals company immediately rose by 1.6 per cent and the knock-on effect also helped the FTSE 100 index in London to reach another all-time high with a 0.4 per cent increase to 8,344.75.

The vaccine was being removed from markets for commercial reasons AstraZeneca said.  It was no longer manufactured or supplied after demand had declined once it was overtaken by newer vaccines which had been updated to tackle Covid-19 variants.

Developed in collaboration with Oxford University and one of the first to be produced and made available, the vaccine, which was later renamed Vaxzevria, was at first offered at cost.  AstraZeneca decided towards the end of 2021 to begin selling it at a profit.

Rare but dangerous blood-clot problems associated with the AstraZeneca vaccine intensified hesitancy on the part of the public while health authorities turned increasingly towards other types, especially the jab developed by Pfizer and German company BioNTech.

AstraZeneca sales collapsed still further as global Covid restrictions were fully lifted and countries throughout the world gradually recovered from the pandemic.

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Written by

Linda Hall

Originally from the UK, Linda is based in Valenca and is a reporter for The Euro Weekly News covering local news. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com.

Comments


    • Bob Scratchit

      09 May 2024 • 12:38

      Astra Zeneca is being sued in the UK, via a class action lawsuit, because its jabs cause blood clots.
      Pfizer has been fined by the UK watchdog for misleading claims on the effectiveness of its jabs.

      These are facts.

      • Quint

        12 May 2024 • 23:35

        Bob is correct! No amount of spin can hide the fact that these vaxes are dangerous. Saying “commercial reasons” for removal is disingenous, it is not commercially viable because it damaged/killed so many people. It did not save lives, it did not stop transmission. All lies.

    Comments are closed.