Biontech slid in the loss zone in the development of cancer medication. Now the company, known for its Corona vaccine, wants to reduce positions. 950 to 1350 Fully equivalents in Europe and North America are being hit.
The jobs must be canceled by the end of 2027. The location in Marburg, for example, is influenced by the low demand for COVID vaccine, where 250 to 350 of 670 full-time equivalents must be eliminated. There is 150 dismissal in Idar-Oberstein. At the end of 2024, the German company still had around 7,200 employees worldwide.
In the previous year, the loss was around 700 million euros. According to Biontech, the reason for the red numbers is the high investments in expensive clinical studies, for example in the development of cancer medication.
The biotechnology company relies on an active ingredient candidate called BNT327 in the treatment of cancer in late stages. This should, among other things, prevent the effects of tumors that suppress the body’s immune system. The company had protected the worldwide rights to the candidate for active ingredients with the acquisition of the Chinese company Biotheus. Biontech wants to receive a first market registration in 2026. The development of preparations for bladder cancer and colon cancer is relatively far, it said.
Klapping things since 2022
In 2022, the profit of the former Corona overflower still had around 9.4 billion euros, in 2023 it was only around 930 million euros. The sale also went down. For the current year, the revenue is expected from 1.7 to 2.2 billion euros. On the other hand, there are costs for research and development for an amount of 2.6 to 2.8 billion euros.
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.
