The German pharma firm BioNTech on Monday said its vaccine sales were more than tripled, with a €6.3 billion ($6.7 billion) revenue in the three-month period that ended on March 31.
In the first quarter of 2021, the figure was €2.05 billion, according to the company’s financial results.
Its net profit also jumped to €3.7 billion from this January to March, up from €1.1 billion a year ago.
“During the first quarter, we demonstrated continued execution across our growth pillars in addressing infectious diseases and oncology,” said Ugur Sahin, M.D., CEO and Co-Founder of BioNTech.
“We have enhanced our COVID-19 vaccine leadership and reported encouraging data for our first-in-human CAR-T therapy in solid tumors. Driven by our execution in innovation, we believe we are well positioned to achieve multiple product launches in the coming years, which would facilitate significant long-term growth.”
“We believe the global deployment of our vaccine has likely saved millions of lives and had a significant impact on humanity. As a result of an increased order volume initially placed in late 2021 following the then emerging Omicron variant, we began the year 2022 with strong revenues and earnings, leaving us well-positioned to achieve the 2022 financial guidance we issued a few months ago,” said Jens Holstein, CFO of BioNTech.
“This notable financial performance also helps us to invest heavily in research and development in the years to come fueling the potential to drive future waves of innovation and growth.”
The company estimated lower vaccine revenue for the full year at €13-€17 billion, down from €19 billion in 2021.
This revenue estimate reflects expected revenues related to BioNTech’s share of gross profit from COVID-19 vaccine sales in the collaboration partners’ territories, from direct COVID-19 vaccine sales to customers in BioNTech’s territory and expected revenues generated from products manufactured by BioNTech and sold to collaboration partners.
COVID-19 Vaccine Program – BNT162
BNT162b2, the first ever approved mRNA-based product, has paved the way for a new class of medicines. BioNTech and Pfizer continue to execute on plans for global COVID-19 vaccine leadership with multiple new product launches, including label expansions, pediatric dosage forms, and development of follow-on and next generation vaccine candidates.
Source: AA
