BioNTech beat expectations in its first-quarter earnings, swinging to a €1.6bn profit and pledging to invest proceeds from its Covid-19 vaccine in becoming a “powerhouse” in cancer therapies.
The German biotech, which has developed its vaccine with Pfizer, forecasts current 2020 contracts to supply 1.8bn doses are worth about €12.4bn. But this could rise further as BioNTech expects to have manufacturing capacity for up to 3bn doses this year.
The company has already signed contracts for 2022 with Canada and Israel, and is in talks with other governments eager to prepare for waning immunity or new variants by buying up booster shots.
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