Golden vaccine also for BioNTech. The German company that together with Pfizer produced the first mRna preparation has raised estimates of annual vaccine revenues, bringing them to 17 billion euros ($19,7 billion) from previous forecasts of 15,9 billion euros. A decision widely expected by the market given that last week Pfizer also improved its guidance on vaccine revenues, going from $33,5 billion to $36 billion for 2021 and forecasting revenues of $29 billion for next year.
For the two partner companies, the same reasons are behind the increase: the approval of the booster doses in various countries of the world and the extension of the vaccine to the age group between 5 and 12 years. The two companies have already signed contracts to deliver about 2,5 billion doses of the vaccine this year and plan to produce up to 3 billion doses by the end of 2021. Through a note, BioNTech also pointed out that more than two billion doses of the vaccine had been shipped to 2 countries or territories around the world as of November 152.
“We continue to work diligently to address the global need for vaccines, with a commitment to ensuring equitable access to them,” he said. Ugur Sahin, CEO and co-founder of BioNTech “Our robust clinical and regulatory strategy has led to recent approvals expanding access to additional age groups and booster dose authorizations for more populations.” "We also had a strong quarter across our oncology pipeline," he added. "Our oncology approach addresses each patient's unique needs by leveraging multiple therapeutic platforms with combination potential."
As for the third quarter, BionTECH recorded revenues of 6,087 billion euros, a figure that compares with the 67,5 million in turnover recorded in the same period of 2020. In the nine months, on the other hand, revenues amounted to 13,44 billion euros compared to the 136,9 million euros of the previous year, with the increase "due primarily to rapid increases in the supply and sales of the Covid-19 vaccine around the world". Net income was 3,21 billion euros in the third quarter, compared to a net loss of 210 million euros in the same quarter last year.
It should be underlined that, thanks to the anti-Covid vaccine, the German company will have the funds to finance the rest of its experimental pipeline. In fact, BioNTech has 4 programs in mid-stage clinical trials for cancer treatments.
On the Nasdaq the BioNTech title is affected by profit taking (-3%). In yesterday's session the stock gained 11,98%.
