Anglo-Swedish drugmaker AstraZeneca on Wednesday said it was withdrawing Covid vaccine Vaxzevria, one of the first produced in the deadly pandemic, citing "commercial reasons" following a slump in demand.
"As multiple, variant Covid-19 vaccines have since been developed there is a surplus of available updated vaccines. This has led to a decline in demand for Vaxzevria, which is no longer being manufactured or supplied," an AstraZeneca spokesperson added in a statement.
"We will now work with regulators and our partners to align on a clear path forward to conclude this chapter and significant contribution to the Covid-19 pandemic."
AstraZeneca rapidly developed the successful Covid-19 jab during the coronavirus pandemic which erupted in the first half of 2020.
Vaxzevria, developed alongside Oxford University, was at first offered at cost but Astra decided in late 2021 to sell it for profit.
But the world pivoted towards mRNA vaccines, particularly the one produced by US drugs giant Pfizer and German peer BioNTech, after rare blood-clot problems with Astra's jab increased public hesitancy about taking it.
Sales collapsed further as global Covid restrictions were fully lifted worldwide and the world emerged from the global health crisis.
The AstraZeneca spokesperson said the group had begun the process from taking it off the market in the Europe, Middle East and Africa (EMA) region.
The company will work with other regulators globally to start market authorisation withdrawals for the Vaxzevria "where no future commercial demand for the vaccine is expected".
The spokesperson said that, according to independent estimates, "over 6.5 million lives were saved in the first year of use alone" and more than three billion doses were supplied globally.
"We are incredibly proud of the role Vaxzevria played in ending the global pandemic," the spokesperson said.
"Our efforts have been recognised by governments around the world and are widely regarded as being a critical component of ending the global pandemic. "