BioNTech Sees Vaccine Drop, Underlining Shift Toward Cancer

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BioNTech Sees Vaccine Drop, Underlining Shift Toward Cancer

Bloomberg2023-03-27

Covid 2023 sales set to fall to €5 billion from €17 billionGerman pharma company is renegotiating EU Covid contractBioNTech SE’s Covid-19 vaccine sales are set to fall by more than two-thirds this ...

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The company is renegotiating its supply contract with the European Union’s executive body, which may see deliveries spread across multiple years and a possible reduction in volume, BioNTech said.BioNTech shot to fame during the pandemic, when it teamed up with Pfizer Inc. to create one of the first vaccines to become available globally using a new technology — messenger RNA — that had never made it to market before. The company is now plowing the Covid product’s revenue into its drug pipeline to show that its mRNA technology can be a broader platform to treat cancer as well as other infectious diseases.“Our mid-term goal is to seek approval for multiple oncology products in cancer indications with high unmet medical need,” Chief Executive Officer Ugur Sahin said in the statement.The company sold about 2 billion doses of its Covid shot in 2022, 550 million of which were the adapted bivalent vaccines against the omicron strain.BioNTech said it may invest in more tie-ups and collaborations to create future growth. Earlier this month, it agreed to pay OncoC4 Inc. $200 million for an experimental cancer antibody due to start a late-stage trial this year.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":6,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}