Quebec-based COVID-19 vaccine maker Medicago to shut down – CBC

Owner Mitsubishi Chemical Group blames decision on ‘significant changes’ to vaccine market

Feb 02, 2023

Mitsubishi Chemical Group is shutting down Medicago Inc., a COVID-19 vaccine manufacturer with headquarters in Quebec City.

A year ago, Medicago’s plant-based COVID-19 vaccine, Covifenz, was approved by Health Canada, and it was touted as a homegrown shot against SARS-CoV-2.

Then in March, the World Health Organization decided not to accept Medicago’s COVID-19 vaccine for emergency use, citing the company’s ties to big tobacco. Marlboro cigarette manufacturer Philip Morris International was once a shareholder of Medicago, but divested all of its shares in late 2022.

Medicago Inc., which was founded in 1997, is now 100 per cent owned by Mitsubishi Tanabe Pharma Corporation.

On Thursday, Medicago owner Mitsubishi Chemical Group issued a statement saying there have been “significant changes” to the vaccine market and, following a comprehensive analysis of the current global demand, the group decided to discontinue marketing Covifenz.

Read more: https://www.cbc.ca/news/canada/montreal/covid-vaccine-maker-medicago-shuts-down-1.6735521