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The corona vaccine manufacturer BioNTech was able to more than triple its sales and profit 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 in the books after around 1.13 billion euros in the same period last year, as the company announced 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 of between EUR 13 billion and EUR 17 billion for the current financial year.
The BioNTech share increased significantly in New York after the start of trading, at the end of trading the paper was 3.05 percent up at 140.32 US dollars. In this year alone, however, the price has still accumulated a minus of over 40 percent. The stock is still significantly further away from the record high of 464 dollars from last August.
According to BioNTech and its US partner Pfizer, they are still examining possible successor versions of the previous COVID-19 vaccine. Among other things, this involves a vaccine candidate based on the omicron variant and so-called bivalent vaccines that are directed against omicron and other Sars-CoV-2 strains. An update of the data from the clinical trials that started in January is “expected in the coming weeks and made available to the regulatory authorities,” the company said. The studies include both vaccinated and unvaccinated subjects.
The path to approval of a vaccine adapted to virus variants is not clearly defined, said company boss Ugur Sahin in a conference call with analysts. There have already been several meetings with the European Medicines Agency (EMA) and the US Food and Drug Administration (FDA) on this issue. According to Sahin, both authorities want to check the data of all tested vaccine candidates and then use the result as the basis for their decision. In his estimation, the EMA and FDA are targeting an approval decision between August and October.
According to CFO Jens Holstein, the strong sales and profit boost with which BioNTech started the new year stems from the high order volume that the company received at the end of last year due to the emerging Omicron variant. 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 “consistent implementation of the plans in the growth areas of infectious diseases and the fight against cancer”.
With the so-called CAR-T therapy – a form of immunotherapy against tumors – there is “encouraging data”, said Sahin. “We are convinced that, thanks to our innovative strength, we are well positioned to bring several products to market in the coming years.”
In the past fiscal year, BioNTech had generated a net profit of around 10.3 billion euros. Sales were almost 19 billion euros.
Editorial office finanzen.net / MAINZ (dpa-AFX)
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