The German laboratory BioNTech reported on Tuesday that its revenue increased by more than 12 times in the fourth quarter of 2020 thanks to the covid-19 vaccine developed in cooperation with the US pharmaceutical giant Pfizer.
In the last three months of last year, BioNTech’s revenue was 345.4 million euros. The amount for the same period last year was 28 million euros.
For the whole of last year, his income almost doubled to 482.3 million euros.
In the laboratory, they pointed out that they had developed a covid-19 vaccine in cooperation with Pfizer, which enabled them to “get commercial income from vaccine sales.”
R&D costs in the last three months of last year were almost four times that of the same period last year, reaching 257 million euros. Last year, this figure almost tripled to 645 million euros.
The largest item of R&D expenses is the development of vaccines. BioNTech also chose to purchase a new branch in the United States in May.
The laboratory’s net profit at the end of the fourth quarter of last year was 367 million euros, more than six times that of the same period last year.
Throughout 2020, the total will reach 15.2 million euros. Last year, BioNTech’s net loss was 179.2 million euros.
BioNTech founder and CEO Ugur Sahin pointed out: “Due to the development and approval of the first mRNA (technology)-based therapy in history, 2020 is a year of tremendous changes for BioNTech.”
“By March 2021, we have provided more than 200 million doses of vaccines in more than 65 countries and regions with our partners, and have witnessed a reduction in covid-19-related cases and the first signs of death in multiple countries. Sahin added.
The laboratory announced today that it plans to produce 2.5 billion doses of vaccine this year, an increase of a quarter from the number originally announced.
The company explained in a statement that due to “optimization of the production process”, “expansion of the production network” and approval of the production of six doses of vaccine from one bottle, production capacity should be increased.
The laboratory also estimates that, based on the currently signed contract for delivery of approximately 1.4 billion doses of vaccine, this year will generate approximately 9.8 billion euros in revenue, and they expect this amount to be even higher after the signing of the new contract.