Quarterly figures: Covid vaccine: Biontech expects seasonal demand

Quarterly figures: Covid vaccine: Biontech expects seasonal demand

It will be a while until autumn, but vaccine manufacturer Biontech is already working on an advanced Covid 19 vaccine. What seasonal demand means for the company.

The vaccine manufacturer Biontech is preparing an advanced Covid 19 vaccine for the fall. Preparations were underway to provide a variant-adapted vaccine if necessary, announced CEO Ugur Sahin in Mainz. The next-generation active ingredient is also intended to protect against severe Covid 19 disease.

The Biontech co-founder expects seasonal demand for the Covid-19 vaccine in the future. As a result, the expected sales would shift significantly to the second half of the year. In the first three months of the year, Biontech recorded a significant decline in revenues and profits as a result of this development.

According to the company, sales in the first quarter were EUR 1.27 billion after EUR 6.37 billion in the same period last year. Net profit fell from 3.69 billion to 502 million euros. The financial development in the first quarter is in line with management’s expectations, said CFO Jens Holstein.

The vaccine manufacturer had already described this year as a kind of transition year when presenting its annual figures. At Biontech, the focus is on the development of new products, especially for therapies against cancer. Several clinical trials with approval potential are planned, which should start this year and next. The company also announced that it is working on setting up a sales organization for oncology products.

Source: Stern

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