BERLIN (AP) — BioNTech, which partnered with Pfizer to develop the COVID-19 vaccine, reported rising revenue and net profit for the first half of the year and expects demand to grow as it launches updated vaccines targeting new strains of the omicron variant.
The German drugmaker on Monday reported revenue of 9.57 billion euros ($9.76 billion) in the first six months of 2022, compared with nearly 7.36 billion euros in the same period last year. But revenue fell to about €3.2bn in the second quarter, from €5.31bn in April to June last year.
BioNTech noted that the dynamic nature of the pandemic has caused changes in orders and revenue, but it expects a strong end to the year. The company indicated that it plans to launch renewed vaccines against the newest omicron variants beginning in October.
“With our initiatives around variant-adapted COVID-19 vaccine candidates, we expect increased demand in our key markets in Q4 2022, subject to regulatory approval,” said Jens Holstein, CFO. of BioNTech, in a press release.
Moderna, another major COVID-19 vaccine maker, is also working on updated versions of its vaccines to launch this fall.
BioNTech expects to report revenue of €13 billion to €17 billion this year from COVID-19 vaccines.
The German company’s net profit in the first half of 2022 was 5.37 billion euros, compared to 3.92 billion euros last year. In the second quarter of the year it had net profits of 1,670 million euros compared to 2,790 million euros, last year.
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