BioNTech Quarterly Profits Rise in Demand for Covid-19 Vaccine

BioNTech reported another quarter of strong revenue growth

BERLIN – Bioentech, the German pharmaceutical company that partnered with Pfizer to develop the first widely used COVID-19 vaccine, reported strong quarterly earnings growth on Wednesday on epidemic-fuel demand.

The company posted a net profit of about 3.2 billion euros ($ 3.6 billion) in the last three months of 2021, up from 367 million euros in the same period last year. Earnings per share rose to 12.18 euros from 1.43 euros a year ago.

Quarterly revenue rose to 5.5 billion euros from the previous 345.4 million euros.

“Our 2021 Covid-19 vaccine revenue has been significantly affected by the ongoing epidemic,” Chief Financial Officer Jens Holstein said in a press release.

Vaccination with the Pfizer-BioNTech vaccine, marketed as Comirnaty, began in December 2020. BioNTech, based in Mainz, near Frankfurt, said about 2.6 billion doses of the vaccine were distributed last year.

The massive demand for the vaccine helped Pfizer report healthy quarterly earnings last month.

Bioentech says it has signed 2.4 billion more dose orders so far this year, which the company expects to generate between বিল 13 billion and বিল 17 billion in revenue.

Bioentech said it was offering a special cash dividend of 2 2 per share and would buy up to $ 1.5 billion worth of shares because “we want to share our success with shareholders.”

For the full year, the company posted a net profit of 10.3 billion euros on revenue of 19 billion.

Leave a Comment