Slowing vaccine demand to weigh on BioNTech profits

German vaccine-maker BioNTech stated Monday its earnings would take successful as demand for its coronavirus jab slowed.

BioNTech, which developed and marketed the primary coronavirus vaccine along with the US pharma firm Pfizer, stated in a press release it could doubtless write off as much as 900 million euros ($948 million) within the third quarter.

BioNTech stated it had been knowledgeable by its companion Pfizer that almost all of the losses associated to extra raw materials utilized in vaccine manufacture, which have been bought throughout the pandemic.

The write-offs additionally associated to unused doses of the vaccine that have been tailored for coronavirus variants different Omicron than XBB.1.5, which unfold quickly earlier this yr.

The losses didn’t have an effect on the XBB.1.5-specific jab which has been accredited by regulators in the USA, Canada and Europe, BioNTech stated.

BioNTech will unveil its third quarter outcomes on November 6.

Its companion Pfizer final week minimize its earnings outlook for 2023, blaming lower-than-expected gross sales of medicine used to deal with coronavirus.

The so-called Comirnaty jab by the 2 teams was the primary COVID-19 shot to be accredited within the West and has grow to be one of the crucial broadly used around the globe.

The success of the vaccine noticed earnings at each BioNTech and Pfizer soar, because the pair delivered billions of doses to sufferers worldwide.

However a waning sense of urgency across the virus has seen the anticipated demand for the vaccine fail to materialize.

The World Well being Group in Might stated it not thought of COVID-19 a worldwide well being emergency, though the virus continues to be circulating.

© 2023 AFP