In a significant development, Anglo-Swedish pharmaceutical giant AstraZeneca has announced the withdrawal of its COVID-19 vaccine, Vaxzevria, from global markets. According to a report by UK-based media outlet The Telegraph, the withdrawal comes as the company voluntarily surrendered its “marketing authorisation,” rendering the vaccine unusable within the European Union.

The withdrawal application was reportedly submitted by AstraZeneca on March 5 and took effect on May 7. The company intends to pursue similar actions in the UK and other nations where the vaccine had received approval in the following months. AstraZeneca cited commercial reasons for the decision, stating that the vaccine had been overtaken by updated versions better equipped to combat new variants of the virus.

The move comes amidst mounting legal challenges for the pharmaceutical behemoth, with a £100 million lawsuit looming in the UK over allegations linking the COVID jab to deaths and injuries. AstraZeneca had previously acknowledged in court documents in February that its vaccine, Covishield, could, in rare instances, lead to Thrombosis with Thrombocytopenia Syndrome (TTS), a condition associated with blood clots and low blood platelet counts.

The decision to withdraw Covishield, however, is asserted by AstraZeneca to be unrelated to ongoing legal proceedings. In a statement, the company defended its vaccine’s track record, noting that independent estimates credited it with saving over 6.5 million lives in its first year of use alone, with more than three billion doses supplied globally. AstraZeneca emphasized its contribution to the global fight against the pandemic but acknowledged the emergence of multiple updated vaccines, leading to a surplus in available options.

The pharmaceutical giant pledged to collaborate with regulators and partners to chart a clear path forward, signaling an end to its involvement in the COVID-19 vaccine landscape while reaffirming its commitment to addressing the ongoing global health crisis.