At the German biotech company Biontech, the billion-dollar business with corona vaccines is losing momentum. Turnover fell in the first quarter from 6.37 billion euros (in the fourth quarter of 2022) to 1.27 billion euros. The reason for this is the reduced demand for initial and booster vaccinations.
However, company representatives suspect that demand could increase if the vaccines are modified. The employees are currently preparing for a possible adjustment for the fall season and developing next-generation vaccines. The expected annual turnover should therefore shift significantly to the second half of the year. Biontech expects sales of corona vaccines to be around five billion euros this year. In the previous year, EUR 17.3 billion was realised.
Not surprising
This development comes as no surprise. The American partner Pfizer also recently reported a significant drop in turnover and profit and assumes a significantly lower demand for the Comirnaty vaccine. Biontech has been focusing more and more on its cancer research for some time now. Before the end of this year, a decisive phase 3 trial with a drug against lung cancer will start. A phase 2 trial of candidate vaccines in pancreatic cancer patients is also planned.
In the second phase, a drug or vaccine is tested on patients for the first time to collect data on its effectiveness. In the third phase, more detailed information on effectiveness and tolerability is provided. These are usually comparative studies. The German company has its roots in cancer research.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
