Biontech raises its forecasts – economy

This is almost no surprise after all the reports of other supply contracts in recent weeks, booster shots and vaccine approval for children between five and twelve. Mainz-based Biontech is now raising its forecast for the full year. For 2021, the Mainz-based company expects sales of its Covid Comirnaty vaccine to be between 16 and 17 billion euros based on a delivery volume of up to 2.5 billion doses, according to the third quarter report 2021.

The range is no longer as wide as in the semi-annual report Biontech released in August. The year is drawing to a close and the overall result becomes more predictable. As of Nov. 2, Biontech and its partner Pfizer have shipped more than two billion cans of BNT162b2, Comirnaty is the trade name, according to the quarterly report. Discussions about additional deliveries in 2022 are ongoing, according to reports. In 2021, the two companies want to produce between 2.7 and three billion cans. By 2022, production capacities are expected to reach up to four billion cans. In recent months, Biontech and Pfizer have continued to expand their network – also in Africa and South America.

Biontech promotes booster vaccinations

The vaccination rate is still too low, Biontech CEO Uğur Şahin said in a conference call with investors. He recommended a booster vaccination, that is to say a third dose, for the entire population. Data presented by Medicine Board Member Özlem Türeci at least shows that a third dose significantly reduces the risk of becoming seriously ill or even dying from Covid.

The small Mainz company with little turnover and high losses, which was Biontech in 2020, has become a profitable group. In the third quarter of 2021, thanks to the vaccine, Biontech increased its turnover to 6.1 billion euros; a year ago it was not even 70 million euros. Biontech and its partners Pfizer and Fosun have divided the world. Germany and Turkey, which Biontech serves directly, account for vaccine sales of nearly 1.4 billion euros. The group estimates the operating income for the third quarter of 2021 at 4.7 billion euros, against a loss over one year of nearly 190 million euros. Profit before tax for the third quarter of 2021 was 4.7 billion euros after a loss of 208 million euros in the same period of the previous year. In the third quarter of 2021 alone, around 1.5 billion euros in income taxes were paid, up from 2.5 million a year earlier.

Mainz, where Biontech is based, is delighted with the high income. The indebted city is expected to have a billion euros surplus this year, Mayor Michael Ebling (SPD) and CFO Günter Beck (Bündnis 90 / Die Grünen) said at a press conference on Tuesday, without, of course, specifying who the money came from. Biontech is expected to make a significant contribution. “Due to the success of Biontech, Mainz has become the world’s pharmacy during the pandemic,” Ebling said, according to the press release. The city now wants to lower the business valuation rate from 440 to 310 percentage points – and invest.

Over the next few years Mainz aims to become a biotechnology center with a focus on cancer research and aging. “The success of Biontech, but also of Ganymed or Tron, are wonderful examples of how basic university research can be translated into innovative products to improve people’s quality of life in the long term,” said enthused Ebling. The founders of Biontech, Uğur Şahin, Özlem Türeci and Christoph Huber, are behind the companies as well as the Tron research center. A biotechnology campus is to be built on 30 hectares in Mainz with a potential of around 5,000 new jobs over the next ten years. Politicians estimate the investment volume at one billion euros.

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