2023-08-09 08:32:32
Baptiste Morin / Photo credit: Andreas Arnold / DPA / dpa Picture-Alliance via AFP
After a prosperous period, the German laboratory BioNtech is experiencing difficult times. The company’s profits collapsed in the second quarter of 2023, posting a net loss of 190 million euros. In question, the sales of the anti-covid vaccine, at half mast.
Their name had become essential during the Covid-19 epidemic. The pharmaceutical company BioNtech, which had joined forces with Pfizer to produce a messenger RNA vaccine, is doing poorly. While the vaccine from two companies was the most widely used in the world, three years later the game has changed for BioNtech.
Thus, in the second quarter of 2022, the German biotech had recorded more than one and a half billion euros in profits. But the change of atmosphere is total this year since in the second quarter of 2023, BioNtech shows a net loss of 190 million euros. In one year, the company plunged into the red.
The budget is looking for a hard cut
The reason is simple: the anti-covid vaccine is no longer successful. So, to find its second wind, Biotech is betting on a new anti-covid vaccine that would be adapted to new variants. The company still hopes for 5 billion euros in revenue. It must be said that she doesn’t really have a choice because her original specialty, cancer research, has so far not yielded concrete results and its financial losses will not help.
Expenditure on research by BioNtech should be cut by several hundred million euros.
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