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AstraZeneca has decided to withdraw its COVID-19 vaccine from the global market due to a previously acknowledged rare and hazardous side effect.

"As multiple, variant COVID-19 vaccines have since been developed, there is a surplus of available updated vaccines," the business stated, adding that this has resulted in a decrease in demand for Vaxzevria, which is no longer manufactured or provided.

AstraZeneca's COVID-19 Vaccine Linked to Rare Syndrome

In February, AstraZeneca acknowledged that the vaccine can, in extremely rare instances, lead to Thrombosis with Thrombocytopenia Syndrome.

This syndrome has been associated with over 80 fatalities in Britain, along with numerous severe injuries.

Daily Mail reported that over 50 individuals who claim to be victims and their bereaved family members are currently engaged in a legal battle against the company in a High Court case.

Nevertheless, AstraZeneca maintains that the vaccine's withdrawal is unrelated to the court case, asserting that it is instead being taken off the market for commercial purposes.

Based on court documents, the company stated that the vaccine is no longer in production or distribution. It has been replaced by newer vaccines that target more recent variants.

Company Pulls Vaxzevria Vaccine from Europe

The company expressed their pride in the contribution of Vaxzevria towards resolving the global pandemic in a statement to the Daily Telegraph.

The company has announced its decision to withdraw the marketing authorizations for the vaccine Vaxzevria within Europe.

As per reports from the media, the drugmaker from the UK and Sweden has acknowledged in legal documents that the vaccine can lead to side-effects like blood clots and low blood platelet counts.

AstraZeneca, a London-listed pharmaceutical company, diversified its portfolio by entering the market for respiratory syncytial virus vaccines and obesity drugs.

According to Reuters, this strategic move came after a decline in sales of COVID-19 medicine, which had previously been a major source of growth for the company.