BioNTech Profits Soar to €2.8 Billion As COVID Vaccine Demand Surges

Published August 10th, 2021 - 08:00 GMT
BioNTech Profits Soar to €2.8 Billion As COVID Vaccine Demand Surges
BioNTech shares at last check soared 12% to $437, and the stock is trading around its 52-week high. (Shutterstock)

The German biotech group BioNTech posted a surge is in sales and profits on Monday and as result its shares (BNTX) soar as well.

The Mainz-based firm stated that Q2 net profit increased more than the analysts' forecast (€2.03 billion), to almost €2.8 billion ($3.3 billion), compared with a loss of €88.3 million in the same period last year.

Overall sales in Q2 were estimated at about €5.3 billion, while Analysts' forecast for this period's sales was at €3.4 billion. And total sales for the first half of the year hit nearly €7.4 billion.

BioNTech shares at last check soared 12% to $437, and the stock is trading around its 52-week high. 

The BioNTech/Pfizer vaccine is one of the most-trusted COVID vaccine globally, and its only competitor that uses messenger RNA technology is its rival the US group, Moderna. The vaccine was authorized for use in the United States, European Union, the Middle East and elsewhere.

Today, after distributing about 1 billion  doses of its vaccine, BioNTech said that offering a third dose of its established two-shot vaccine might be necessary as a response to the highly contagious Delta variant.


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