The German pharmaceutical company BioNTech reported a net profit of 1.1 billion euros (28.1 billion CZK) in the first quarter, which is three times compared to the fourth quarter of last year. The company, which has developed one of the covid-19 vaccines in collaboration with the American drug manufacturer Pfizer and is the main supplier of this vaccine for EU countries, stated this in its results report today.
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Sales recorded an even steeper increase than the profit. These climbed to 2.05 billion euros in the first three months, and were more than 70 times higher year-on-year. The economic results are mainly related to the supply of anti-cancer vaccines, which BioNTech together with Pfizer exported more than 450 million to 91 countries as of May 6, the DPA agency reported.
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Back in the first quarter of last year, the company had a net loss of 53 million euros due to high costs for science and research.
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BioNTech was founded in 2008 in Mainz and has long been engaged in cancer treatment research with a focus on biological treatment. Following the outbreak of the pandemic, she focused on developing a vaccine against covid-19. Its vaccine, like that of its rival Moderna, uses mRNA technology – it differs from traditional ones in that it does not contain any dead or weakened pathogens, but the genetic information of the virus. This method is compared to a guide for the body to make its own antibodies.
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BioNTech also announced today that it plans to set up a regional center and a new vaccine plant in Singapore. It will strengthen its presence in Asia as pressure increases on vaccine manufacturers to increase production. According to the report, the shares of BioNTech strengthened by about nine percent on the stock exchange in Frankfurt am Main.
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