Even if the profit and sales of the corona vaccine manufacturer BioNTech are no longer growing as quickly as before, the company is expecting good business this year. BioNTech raised the sales forecast for its corona vaccine for the current financial year on Monday and now narrowed it down to a range of 16 to 17 billion euros at the upper end (previously 13 to 17 billion euros). The reason for the optimism are the new vaccines adapted to the omicron subvariants BA.1 and BA.4/5.
According to their own statements, BioNTech and its US partner Pfizer invoiced around 300 million doses by mid-October. The vaccines have already been approved in more than 45 countries and regions worldwide, said CEO Ugur Sahin in front of financial experts. This also includes the important markets USA and EU.
Pfizer also raised its revenue targets a few days ago thanks to good business with the Corona boosters. In mid-September, the EU Commission approved the Corona vaccine from BioNTech/Pfizer, which has been adapted to the currently prevailing subvariants BA.4/5. The BA.1 vaccine had previously received approval. However, this subvariant no longer plays a major role in the pandemic.
Business in the third quarter ended September 30 was comparatively sluggish for BioNTech. During this period, the Mainz-based company generated a net profit of around 1.8 billion euros. In the same period last year it was 3.2 billion. Sales fell from almost 6.1 billion euros in the third quarter of 2021 to just under 3.5 billion euros.
If you compare the business figures for the months of January to September with those of the previous year, the fluctuations are less pronounced. All in all, BioNTech earned around 7.16 billion euros in the first three quarters of 2022, compared to 7.13 billion in the previous year. Sales of 13.03 billion euros this year compared to 13.44 billion in the same period last year.
The business went as expected, said CFO Jens Holstein. BioNTech expects that up to 2.1 billion doses of the corona vaccine will be billed worldwide this year together with Pfizer. Some deliveries have been postponed to next year “due to the developing demand dynamics”.
BioNTech continues to place great hopes in the development of new therapies for the treatment of cancer. The pipeline currently includes a total of 19 product candidates in 24 ongoing clinical studies, the company said. According to BioNTech, it expects to be able to present new data from up to ten clinical studies in this area next year.
In NASDAQ trading, BioNTech shares rose 4.15 percent to $160.72 by the close.
Editorial office finanzen.net / dpa-AFX
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