According to a senior executive, AstraZeneca is exploring options for the future of its COVID-19 vaccine. The company anticipates greater clarity on the matter by the end of the year. The announcement came amid a series of setbacks in its race to produce a vaccine for the world.
Executives insisted it was too early to say what the decision on the vaccine’s future or the outcome of the review would be.
As we know, the drugmaker agreed to work with the University of Oxford on its COVID-19 vaccine last year. AstraZeneca had no prior vaccine experience. Moreover, it took on the project with a pledge not to make a profit during the COVID-19 pandemic.
The COVID-19 vaccine has quickly become the public face of the company’s efforts during the pandemic.
According to the head of the BioPharmaceuticals business, Ruud Dobber, it is under discussion whether the vaccine business is a sustainable business for AstraZeneca for the next 5 or 10 years.
Moreover, a small group of staff reporting to research chief Mene Pangalos and Dobber are looking into this. He announced that it is necessary to discuss with senior executive time and then with the board of AstraZeneca. He also added that it is far too early at this stage to conclude that process.
Moreover, he announced that they will have a better view of how to move forward in the next few years before the year ends.
AstraZeneca has delivered one billion doses across the world
As we know, production disruptions forced AstraZeneca to cut deliveries to the EU earlier in the year. It prompted the bloc to launch a legal challenge.
Moreover, the shot faced age restrictions due to being link to rare clots, and its application for U.S. approval is taking longer than expected.
Chief Executive Pascal Soriot announced he had no regrets over getting involved in COVID-19 vaccines as the firm has made an enormous difference.
Remarkably, the company has delivered one billion doses globally. It is celebrated by the U.K. government as a national success story of the COVID-19 pandemic.
Dobber announced that AstraZeneca would keep its pledge to deliver a broadly available and accessible vaccine. Meanwhile, Soriot has reported that its shot will always be kept affordable for low-income countries, even when it moves away from a no-profit model.
On Thursday, the results showed sales of the vaccine in Q2 more than tripled to $894 million from the first three months of 2021. This made AstraZeneca’s vaccine one of its top-selling products.