Business

BioNTech vaccine sales, profit triple in Q1

Company’s quarterly revenues reach €6.3B ($6.7B) in 3-month period that ended on March 31

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.

“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,” Jens Holstein,the CFO of BioNTech, said.

The company estimated lower vaccine revenue for the full year at €13-€17 billion, down from €19 billion in 2021.

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