Berlin Aug 8 (BUS) : BioNTech, which has teamed up with Pfizer Inc. to develop a potent COVID-19 vaccine, reported an increase in revenue and net profit in the first half of the year and expects demand to grow with the release of updated vaccines to target. New Omicron strains.
The German pharmaceutical company said, on Monday, that revenues amounted to about 9.57 billion euros ($ 9.76 billion) in the first six months of 2022, up from about 7.36 billion euros in the same period a year ago.
But revenue fell to about 3.2 billion euros in the second quarter from 5.31 billion euros in April through June of last year, according to the Associated Press.
BioNTech said the dynamic nature of the pandemic has led to changes in orders and revenue, but it expects a strong end to the year.
It said it plans to release revamped vaccines designed for the latest Omicron as early as October, which could lead to a booster drop campaign.
Moderna, another major producer of COVID-19 vaccines, is working on updated versions of its screenshots for release this fall.
BioNTech expects to generate €13 billion to €17 billion in revenue from COVID-19 vaccines this year.
The German company’s net profit was also higher in the first half of the year than in the same period in 2021 – 5.37 billion euros from 3.92 billion euros – and lower in the second quarter – 1.67 billion euros from 2.79 billion euros.
For partner Pfizer, sales of a COVID-19 vaccine and treatment in the second quarter drove the drug giant to post its largest quarterly sales in its history. It said last month it earned $9.9 billion from April through June.
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