BioNTech announces Q2 losses, launches covid-19 vaccine in September

 

BERLIN – German vaccine manufacturer BioNTech expects to launch its adapted Covid-19 vaccine in September, the company announced today as it presented its financial figures for the second quarter.

Subject to approval, delivery of the vaccine adapted to the coronavirus variant XBB.1.5, a sub-variant of Omicron, should begin next month.

The significantly reduced business in Covid-19 vaccines is having a strong impact on the balance sheet of the Mainz-based company. This is affecting its US partner Pfizer too.

BioNTech’s sales of Covid-19 vaccines fell to €1.4 billion ($1.1 billion) in the first half of the year from €9.57 billion in the same period last year. Profits slumped from €5.37 billion to €311.8 million.

For the second quarter, which ended at the end of June, the bottom line was a loss of €190.4 million, compared to a profit of €1.67 billion in the same quarter of the previous year.

Quarterly revenues were €167.7 million after €3.2 billion in the same period last year. BioNTech maintained its forecast for the full year and continues to expect Covid-19 vaccine sales of around €5 billion.

The company pointed out that several payments had been received after the end of the second quarter, including a compensation payment from Pfizer of around €1.06 billion for BioNTech’s share of gross profit for the first quarter of 2023.