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Corona vaccine maker BioNTech was able to more than triple its sales and profits in the first quarter compared to the same period last year. In the quarter that ended at the end of March, there was a net profit of around 3.70 billion euros on the books after around 1.13 billion euros in the same period last year, as the company announced this on Monday in Mainz. Sales increased from 2.05 billion euros to 6.37 billion euros. When presenting the new figures, BioNTech confirmed its sales forecast for its corona vaccine between 13 billion euros and 17 billion euros for the current financial year.
BioNTech’s share rose significantly in New York after trading began, most recently the paper was up 5.1% at US$143.05. In this year alone, however, the price has still accumulated a minus of over 40%. The title is still much further from the record of 464 dollars last August.
According to BioNTech and its US partner Pfizer, they are still examining possible successor versions of the previous COVID-19 vaccine. These include a candidate vaccine based on the omicron variant and so-called bivalent vaccines which are directed against omicron and other Sars-CoV-2 strains. An update of data from clinical trials that began in January is “expected in the coming weeks and made available to regulatory authorities,” the company said. The studies include both vaccinated and unvaccinated subjects.
The path to approval of a vaccine suitable for the variants of the virus is unclear, company boss Ugur Sahin said in a conference call with analysts. Several meetings have already taken place with the European Medicines Agency (EMA) and the US Food and Drug Administration (FDA) on this issue. According to Sahin, the two authorities want to verify the data of all candidate vaccines tested and then use the result as the basis for their decision. According to him, the EMA and the FDA are aiming for an approval decision between August and October.
According to CFO Jens Holstein, the strong increase in sales and profits with which BioNTech started the new year stems from the high order volume the company received late last year due to the emerging variant of ‘Omicron. BioNTech intends to invest the profits in a share buyback program, a special dividend for its shareholders and in further research and development. In this context, Sahin spoke of a “coherent implementation of plans in the buoyant areas of infectious diseases and the fight against cancer”.
With so-called CAR-T therapy — a form of tumor immunotherapy — there are “encouraging data,” Sahin said. “We are convinced that, thanks to our strength in innovation, we are well positioned to market several products in the years to come.”
During the past financial year, BioNTech had generated a net profit of approximately 10.3 billion euros. Sales reached nearly 19 billion euros.
>br> Editing finanzen.net / MAINZ (dpa-AFX)
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