BERLIN (AP) — BioNTech, which teamed with Pfizer to develop a powerful COVID-19 vaccine, has reported higher revenue and net profit in the first half of the year and expects demand to grow as it releases updated vaccines to target new omicron strains .
FILE - The headquarters of the German biotechnology company "BioNTech" is pictured in Mainz, Germany, March 30, 2022. BioNTech, which teamed with Pfizer to develop the first widely used COVID-19 vaccine, has reported higher revenue and net profit in the first half of the year. The German pharmaceutical company said Monday Aug. 8, 2022, that it expects demand to grow as it releases updated vaccines to target new omicron strains.
FILE - The headquarters of the German biotechnology company "BioNTech" is pictured in Mainz, Germany, March 30, 2022. BioNTech, which teamed with Pfizer to develop the first widely used COVID-19 vaccine, has reported higher revenue and net profit in the first half of the year. The German pharmaceutical company said Monday Aug. 8, 2022, that it expects demand to grow as it releases updated vaccines to target new omicron strains.
BERLIN — BioNTech, which teamed with Pfizer to develop a powerful COVID-19 vaccine, has reported higher revenue and net profit in the first half of the year and expects demand to grow as it releasesThe German pharmaceutical company said Monday that revenue hit about 9.57 billion euros in the first six months of 2022, up from nearly 7.36 billion euros in the same period a year earlier. But revenue dropped to about 3.2 billion euros in the second quarter from 5.
BioNTech said the dynamic nature of the pandemic has led to changes in orders and revenue but that it expects a strong end to the year. It said it plans to release revamped vaccines tailored to the latest omicron variants as early as October, which could lead to a fall booster campaign. “With our initiatives around variant-adapted COVID-19 vaccine candidates, we expect an uptake in demand in our key markets in the fourth quarter of 2022, subject to regulatory approval,” Jens Holstein, chief financial officer of BioNTech, said in a press release.
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