AstraZeneca Admits Its COVID-19 Vaccine May Cause Blood Clotting Side Effect In Very Rare Case, But Causal Mechanism Unknown
Portfolio Pulse from Vandana Singh
AstraZeneca Plc (NASDAQ:AZN) faces a class action lawsuit over its COVID-19 vaccine, developed with the University of Oxford, alleging it caused death and serious injury in rare cases. The company admitted in court that its vaccine could cause Thrombosis with Thrombocytopenia Syndrome (TTS) in very rare instances, but the causal mechanism remains unknown. Despite this, AstraZeneca disputes claims that the vaccine is defective and has overstated efficacy. The vaccine is no longer used in the UK for under-40s due to safety concerns. Victims seek £100 million in compensation. AZN shares are up 0.44% at $75.50.
April 29, 2024 | 6:38 pm
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AstraZeneca is involved in a class action lawsuit due to its COVID-19 vaccine causing rare but serious side effects, including TTS. The company admitted the vaccine's potential to cause TTS in court, amidst ongoing legal battles and compensation claims.
The admission by AstraZeneca of the vaccine's potential to cause TTS, despite being a rare occurrence, could have a mixed impact on its stock. On one hand, the legal challenges and potential compensation payouts could be seen as negative. On the other hand, the company's transparency and the rarity of the condition, coupled with the slight increase in stock price, suggest that the market may have already absorbed the news without significant negative impact in the short term.
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