BioNTech reports strong first half, expects demand to grow

BioNTech, which teamed with Pfizer to develop a strong COVID-19 vaccine, has reported larger income and internet revenue within the first half of the year

BERLIN — BioNTech, which teamed with Pfizer to develop a strong COVID-19 vaccine, has reported larger income and internet revenue within the first half of the year and expects demand to grow because it releases up to date vaccines to goal new omicron strains.

The German pharmaceutical company mentioned Monday that income hit about 9.57 billion euros ($9.76 billion) within the first six months of 2022, up from practically 7.36 billion euros in the identical interval a year earlier. But income dropped to about 3.2 billion euros within the second quarter from 5.31 billion euros in April by June of final year.

BioNTech mentioned the dynamic nature of the pandemic has led to modifications in orders and income however that it expects a strong finish to the year. It mentioned it plans to launch revamped vaccines tailor-made to the most recent omicron variants as early as October, which could lead on to a fall booster marketing campaign.

“With our initiatives round variant-adapted COVID-19 vaccine candidates, we count on an uptake in demand in our key markets within the fourth quarter of 2022, topic to regulatory approval,” Jens Holstein, chief financial officer of BioNTech, said in a press release.

Moderna, another major COVID-19 vaccine producer, also is working on updated versions of its shots to release this fall.

BioNTech expects to report revenue of 13 billion to 17 billion euros from COVID-19 vaccines this year.

The German company’s net profit also was higher for the first half of the year compared with the same period of 2021 — 5.37 billion euros vs. 3.92 billion euros — and lower for the second quarter — 1.67 billion euros vs. 2.79 billion euros.

For companion Pfizer, gross sales of COVID-19 vaccine and therapy within the second quarter propelled the pharmaceutical large to the largest quarterly gross sales in its historical past. It mentioned final month that it earned $9.9 billion from April by June.

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