Weeks after admitting that its Covid vaccine can cause rare side effects, AstraZeneca on Tuesday announced that it is withdrawing the Oxford-AstraZeneca novel coronavirus shot worldwide.

In a statement, AstraZeneca said the decision was made because there is now a variety of newer vaccines available that have been adapted to target Covid-19 variants. This had led to a decline in demand for the AstraZeneca vaccine, which is no longer being manufactured or supplied.

“According to independent estimates, over 6.5 million lives were saved in the first year of use alone and over 3bn doses were supplied globally,” the statement said; according to The Guardian.

“Our efforts have been recognised by governments around the world and are widely regarded as being a critical component of ending the global pandemic. 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,” it added.

On 7 May, the European Medicines Agency issued a notice that the vaccine is no longer authorised for use.

AstraZeneca, in collaboration with The University of Oxford, had developed AZD1222 vaccine after the outbreak of the coronavirus in 2020. In India, it was manufactured and supplied under the name “Covishield” by Serum Institute of India (SII) through a licence from the university and the Swedish-British drugmaker.