Biontech Wants to Increase Production to 2.5 Billion Vaccine Doses
Biontech and its partner Pfizer want to produce more Covid-19 vaccine in 2021 than previously planned. The EU could thus compensate for part of the Astrazeneca failures. In addition, Biontech reports business figures – the share rises significantly.
Biontech and Pfizer want to produce more Covid-19 vaccine in 2021 than previously planned. Biontech is now assuming a production capacity of up to 2.5 billion vaccine doses, announced the Mainz biotech company on Tuesday. Most recently, the two partners had raised their production target to 2.3 to 2.4 from the previous two billion cans. So far, Biontech has signed supply contracts for 1.4 billion cans and expects them to generate sales of around 9.8 billion euros in 2021.
“Up to and including March 2021, together with our partners, we were able to deliver more than 200 million vaccine doses to over 65 countries and regions,” said Biontech boss Ugur Sahin. He announced that he would drive the development of new formulations and vaccines against virus variants. Biontech is investigating the use of its vaccine, which has so far been approved for people aged 16 and over, in other groups. A study recently started on the use of the Covid-19 vaccine in children between the ages of six months and twelve years. In addition, Biontech and Pfizer are planning further studies to evaluate the vaccine in people with compromised immune systems.
The expansion of production was mainly made possible by improved manufacturing processes, the new Biontech production facility in Marburg, the approval of the withdrawal of a sixth vaccine dose and the expansion of the manufacturer and supplier network, the company said. Biontech is holding further discussions with potential partners.
Thanks to the vaccine, Biontech was able to more than quadruple its sales last year to 482.3 (previous year: 108.6) million euros. The bottom line was that the company earned € 15.2 million after a loss of € 179.2 million in 2019.
The presentation of the business figures encouraged investors to get started: The shares of the biotech company rose at times by seven percent to 85.85 euros.
According to preliminary calculations, sales in the fourth quarter of 2020 rose to EUR 345.4 million from EUR 28 million in the same period of the previous year. The profit is 366.9 million euros, after a loss of 58.2 million euros in the final quarter of 2019.
Biontech Wants to Increase Production to 2.5 Billion Vaccine Doses - /10