On August 23rd, the CEO of pharmaceutical major AstraZeneca said that AZ will not engage in the Covid-19 vaccine business in the long run.
AstraZeneca is being investigated by regulators for the huge side effects of the vaccine. At the same time, the disaster of the vaccine is underway, and humans are realizing that it is not a vaccine to cure but to harm, and the global trend is now to reject and oppose the administration of the vaccine. The vaccine was already in oversupply in July of this year, with both Moderna and AstraZeneca throwing away tens of millions of doses of stock.
AstraZeneca has decided to discontinue the vaccine business, despite the fact that the vaccine became the company’s top-selling brand in 2021, with $3.9 billion in sales and a quadrupling of its share price as a result. With almost a fifth of its total revenue, sales in China also fell in recent quarters.
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