(Berlin) BioNTech, which has partnered with Pfizer to develop a COVID-19 vaccine during the pandemic, reported positive financial results for the first half of the year and expects demand for its products is increasing with the arrival on the market of its new bivalent vaccine, which should be more effective in combating new variants of the virus.
Posted at 9:54 a.m.
The German pharmaceutical company announced on Monday that its revenues reached 9.57 billion euros (approximately CA12.5 billion) in the first six months of 2022. For the same period in 2021, the company’s revenues had was 7.36 billion euros.
The second quarter was more difficult, however, as its revenue of 3.2 billion euros was down from the 5.31 billion euros generated for the same period from April to June, in 2021.
BioNTech explains these fluctuations by the variation in demand for vaccines caused by the evolution of the pandemic.
However, the company believes that the arrival on the market of its bivalent vaccine, which could be deployed as early as October, will ensure that its second half of the year will be just as positive financially.
According to BioNTech, the arrival of a more effective vaccine against variants, including Omicron and its sub-variants, will breathe new life into the fall vaccination campaign.
“With our candidate vaccines tailored to the variants of COVID-19, we expect demand to increase in our key markets in the fourth quarter of 2022, subject to these vaccines receiving the necessary authorizations”, underlined in a press release the director. BioNTech’s financier, Jens Holstein.
Moderna, another company that massively produces vaccines against COVID-19, is also working on updating its vaccine to make it more effective against new variants. The American manufacturer also hopes to launch its new vaccine this fall.
BioNTech expects its COVID-19 vaccine revenue to be between €13 billion and €17 billion for the full year.
The German company’s net profits also increased for the first half of the year compared to the same period in 2021 – 5.37 billion euros against 3.92 billion euros – but fell during the second quarter — 1.67 billion euros versus 2.79 billion euros.