Germany’s BioNTech raises vaccine sales outlook to €12.4bn
Pfizer and BioNTech have also bumped up their production goals
Mainz — BioNTech boosted its Covid-19 vaccine sales forecast to €12.4bn for 2021, issuing a new target for the shot it sells with Pfizer as countries increase orders to spur their inoculation campaigns.
The partners have contracted for about 1.8-billion doses in 2021 and started clinching deals for 2022 and beyond, the Mainz, Germany-based company said on Monday. BioNTech had previously predicted €9.8bn in 2021 revenue from the shot, its first marketed product.
As demand soars for their messenger RNA vaccines, Pfizer and BioNTech have bumped up their production goals, raising the potential revenue the two partners stand to get as well. Pfizer last week said supply agreements will yield $26bn in sales this year — a total that’s split between the drugmakers. BioNTech also gets revenue from direct sales.
BioNTech’s depository receipts rose as much as 10% in US trading.
CEO Ugur Sahin said he sees no need to adjust the shot to new variants, though that time may come.
“At the moment we don’t see any reason to adapt our vaccine, but we are working to establish a process and a regulatory framework,” Sahin said on a conference call. The changes would only impact the template used for the vaccine without affecting or delaying the manufacturing process, he said.
BioNTech and Pfizer said last week that they would be able to make as many as 3-billion doses this year and more than that in 2022. Though the partners’ messenger RNA technology was unproven until 2020, it has quickly become a mainstay of the Covid-19 inoculation drive, thanks in part to manufacturing struggles and safety concerns for competitors AstraZeneca and Johnson & Johnson.
Orders are already flowing in for 2022, including as many as 1.8-billion doses reserved for 2022 and 2023 by the EU alone. BioNTech also said it will build a production facility in Singapore that could be operational by early 2023 and establish a joint venture with a unit of Shanghai Fosun Pharmaceutical to set up local manufacturing.
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