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BioNTech announces $3.7B profit in Q3

Thanks to rapid rise in supply and sales of COVID-19 vaccine, total revenues of BioNTech hit €6.1 billion in July-September

BioNTech announced a €3.2 billion ($3.7 billion) net profit in the third quarter of this year, the immunotherapy company said on Tuesday.

Thanks to the rapid rise in the supply and sales of the COVID-19 vaccine worldwide, total BioNTech revenues stood at €6.1 billion in July-September, versus €67.5 million in the same period last year.

The company co-founded by the children of Turkish immigrants to Germany, who also developed the landmark vaccine expects revenue of €16-17 billion for the full 2021 fiscal year based on up to 2.5 billion doses of vaccine.

As of Nov. 2, BioNTech and Pfizer have delivered an aggregate of over 2 billion doses of COVID-19 vaccine to more than 152 countries and territories around the world.

Some 2.7-3 billion doses are expected to be manufactured by the end of this year while the two companies anticipate capacity to manufacture up to 4 billion doses in 2022.

Source
AA

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