Mitsubishi Chemical Group has resolved to shut down Medicagoinc, a COVID-19 vaccine manufacturer with headquarters in Quebec City.
In a statement, the group said there have been “significant changes” to the vaccine market and after a thorough analysis of the current world demand, they have decided to discontinue marketing their vaccine, Covifenz.
It said: “Dissolution proceedings will take place in due course in accordance with local laws and regulations.”
The plant-based vaccine of the firm, Covifenz, was approved by Health Canada (GovCanHealth) and it was recognized as a homegrown shot against SARS-CoV-2.
The World Health Organization (WHO) later decided not to accept Medicago’s COVID vaccine for emergency use, citing the company’s connection to a major tobacco manufacturer.
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