Here’s how the German Biontech toasts on the stock market for vaccinated accounts
Biontech grows on the stock market thanks to the increase in revenues in the first quarter due to anti Covid vaccines
Exploit Biontech on the Frankfurt Stock Exchange after the first quarter accounts and the EU vaccine order for 1.8 billion doses announced last Saturday.
Revenues rose sharply from € 27.78 million to € 2.08 billion, with a net profit of € 1.12 billion.
The increase is mainly due to the rapid increase in the supply of Covid-19 vaccine around the world.
In addition to the quarterly results, on Monday 10 May the group announced that it was expanding into Asia with a new regional office in Singapore.
The stock rose by 10.04% to € 164.4. The shares have come under pressure – down more than 12% since the beginning of last week – due to US President Biden's plan to temporarily give up patent rights for Covid vaccines.
All the details on the results of the German company founded by the pair of scientists Sahin and Tureci.
THE ACCOUNTS OF BIONTECH
The German pharmaceutical company reported earnings of 1.13 billion euros in the quarter, or 4.39 euros per share, compared to a net loss of 53.4 million in the same period in 2020.
INCREASE IN REVENUES THANKS TO PFIZER SALES FOR THE VACCINE
Turnover stands at € 2.05 billion, up from € 27.7 million in 2020 and exceeding analysts' expectations by € 1.7 billion, according to the FactSet consensus.
The Mainz-based company said its revenues included more than 1.75 billion in gross profits from vaccine sales in Pfizer's territories and nearly 200 million from sales to customers in its region.
THE DEVELOPMENT OF THE ANTI-COVID VACCINE
Earlier last year, at the start of the pandemic, BioNTech moved from researching cancer treatments to developing a Covid-19 vaccine. Like rival American company Moderna, the company's vaccine uses mRNA technology to trigger the body's immune system to attack the virus.
SHIP 450 MILLION DOSES WORLDWIDE
BioNTech added that as of May 6, Pfizer has shipped approximately 450 million doses of the vaccine to countries around the world. Going forward, the company expects Covid-19 vaccine revenues to reach approximately 12.4 billion upon delivery of supply contracts for approximately 1.8 billion doses.
ON THE PRODUCTION OF THE ANTI-COVID VACCINE
BioNTech expects the vaccine production capacity to reach 3 billion doses by the end of 2021 and will exceed 3 billion doses in 2022.
On Friday, BioNTech and Pfizer said they have begun the process of seeking full U.S. approval for their COVID-19 vaccine in individuals aged 16 and over.
EFFECTIVENESS AGAINST VARIATIONS
German laboratory BioNTech said it is counting on the effectiveness of its Covid vaccine against coronavirus variants, considering that no study supports the need for a new formula at this stage. "To date, there is no indication that an adaptation of BioNTech's current vaccine against the major emerging variants identified is required," reads a statement. The company added that it is however developing "a comprehensive strategy to address these variants if needed in the future."
THE NEW ORDER FROM THE EU
If for the moment the European Commission has not renewed its contract for the vaccines developed by AstraZeneca beyond the expiry of the current agreement, scheduled for the end of June, the EU executive has nevertheless announced a new contract with BioNTech -Pfizer.
On Friday, the Commission reported that the EU has signed a new contract with Pfizer-BioNTech to receive 1.8 billion doses of Covid-19 vaccines for 2021-2023.
NEW HEADQUARTERS IN SINGAPORE FOR BIONTECH
Finally, again today the German pharmaceutical company announced in a note its intention to install a whey production facility in Singapore. Factory in Southeast Asia could produce hundreds of millions of doses per year Construction of the manufacturing facility and regional headquarters in Singapore will begin this year and could be operational by 2023.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/sanita/ecco-come-la-tedesca-biontech-brinda-in-borsa-per-i-conti-vaccinati/ on Mon, 10 May 2021 13:47:05 +0000.