Vaccine maker BioNTech expects second-quarter profits to skyrocket


German pharmaceutical giant BioNTech, which developed the first COVID-19 vaccine to be granted an emergency use authorization by US regulators in collaboration with Pfizer, surged in profits in the second quarter of 2021.

and Revenue report The Mainz-based company was announced Monday and said it made nearly $ 3.3 billion in net profit between April and June. This resulted in a net loss of approximately $ 167 million in the first half of 2020, while a net profit of more than $ 4.6 billion in the first half of 2021.

According to the company, the plunge in mRNA-based coronavirus vaccines will help develop drugs for cancer and other illnesses.

“We and our partner Pfizer have received more than a billion doses of COVID-19 vaccine shipped worldwide,” said Dr. Ugur Sahin, CEO and co-founder of BioNTech, in a statement. “We are proud to reach this amazing milestone in just six months and make a difference with our unique mRNA technology.”

Pfizer, BioNTech’s vaccine development partner, Quarterly financial report In late July, sales for the second quarter of 2021 totaled $ 19 billion, an increase of $ 9.1 billion, or 92%, compared to the second quarter of 2020. This growth was driven primarily by the COVID-19 vaccine, Pfizer said. Direct sales and revenue of $ 7.8 billion. At the same time, Pfizer raised its 2021 sales forecast for vaccines from $ 26 billion to $ 33.5 billion.

However, while Pfizer and BioNTech are enjoying the plunge in the COVID-19 vaccine, competitor AstraZeneca, who promised to offer the COVID-19 vaccine futilely during the pandemic, recently said in the first half of this year. The loss reduced the vaccine’s profit per share by 4 cents.

Sales of AstraZeneca’s COVID-19 vaccine, Vaxzevria, generated $ 1.17 billion in revenue in the first half of this year, including $ 894 million in the second quarter. AstraZeneca Revenue Report, Released on July 29th.

However, while these revenues narrowed AstraZeneca’s blow to the useless provision of the COVID-19 vaccine, the company reduced its reported gross profit, which fell to 73.5% in the first half of the year, by 7 percentage points. Said that it was the main factor. Year.

“Achievements primarily reflect the significant impact of a fair supply of the pandemic COVID-19 vaccine that does not benefit AstraZeneca and the increased impact of profit-sharing arrangements,” AstraZeneca said in a report. Stated.

AstraZeneca said the loss on Vaxzevria reduced earnings per share by 3 cents in the first quarter and 1 cent in the second quarter.

The Associated Press contributed to this report.

Tom Ojimek

Tom has a broad background in journalism, deposit insurance, marketing and communication, and adult education. The best writing advice he has ever heard is from Roy Peter Clarke.