German biotechnology firm BioNTech announced better revenue expected on strong sales of vaccines adapted to the Covid-19 variant in the third quarter of the year.
According to BioNTech’s financial results for the third quarter, the company’s sales in the July-September period were 1 billion 244 million, three times above expectations.
While its profit was 160.6 million Euros in the third quarter of last year, the company’s sales increased by 23 percent to 198.1 million Euros in the same period of this year, and its sales were recorded as 895.3 million Euros in the third quarter of last year.
The company, which rose to prominence during the Covid-19 pandemic, expects this year’s revenues to be at the lower end of its full-year revenue range of €2.5-3.1 billion, depending on regulatory developments.
BioNTech had launched its vaccines adapted to the Covid-19 variant earlier than last year due to official approvals in the EU, UK and USA. This contributed to sales in the third quarter.
Despite sales of approximately 1.56 billion Euros, the company’s loss of approximately 925 million Euros in the January-September period of the year also attracted attention.
Uğur Şahin: The reason for success…
BioNTech CEO and Founding Partner Prof. Dr. Ugur Sahin, “BioNTech’s achievements during this period were the successful launch of their vaccine adapted to the Covid-19 variant and progress in our oncology pipeline.”He used the expression.
Stating that progress has been made in the development of cancer drugs, Şahin said, “We continue to focus on advancing our late-stage oncology product candidates toward potential registration.” made his assessment.
The company, which shifted its focus to cancer drug development after the Covid-19 outbreak, plans to launch its first cancer drug in 2026.
Source: www.dunya.com
