economy vaccine manufacturers
Biontech reports loss of millions – new corona vaccine from September
Status: 2:21 p.m. | Reading time: 2 minutes
Vaccine manufacturer Biontech presented quarterly figures on Monday
What: REUTERS
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During the pandemic, the Mainz-based vaccine manufacturer Biontech earned billions. But the demand for corona vaccines dropped significantly. The company is now presenting bad numbers for the second quarter.
Vaccine manufacturer Biontech presented its business figures for the second quarter on Monday. The Mainz-based company also announced that it would probably launch its adapted Covid-19 vaccine in September.
As with the US partner company Pfizer, the significantly lower business with Covid 19 vaccines is having a strong impact. Biontech’s sales of corona vaccines fell to 1.4 billion euros in the first half of the year. In the same period of the previous year, the turnover was still a multiple, namely 9.57 billion. The profit collapsed from 5.37 billion euros to 311.8 million euros.
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For the second quarter, which ended at the end of June, the bottom line was even a loss of 190.4 million euros, in the same quarter of the previous year Biontech had still made a profit of 1.67 billion euros. At EUR 167.7 million, quarterly revenues were well below expectations after EUR 3.2 billion in the same period of the previous year.
Payments from Pfizer should improve annual results
Biontech stuck to its forecast for the year as a whole and continues to expect sales of around five billion euros from Covid-19 vaccines. The company noted that it received several payments after the end of the second quarter, including an approximately $1.06 billion compensation payment from US partner Pfizer for Biontech’s share of gross profit for the first quarter of 2023.
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Subject to approval, the delivery of a vaccine adapted to the corona variant XBB.1.5 should begin as early as September.
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