Home News Covid-19

BioNTech sinks as Covid vaccine sales and profit disappoint

Bloomberg
Bloomberg8/8/2022 09:28 PM GMT+08  • 2 min read
BioNTech sinks as Covid vaccine sales and profit disappoint
Sales fell to 3.2 billion euros, almost 20% short of the average estimate.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

BioNTech SE dropped the most in more than three months as lagging Covid-19 vaccine orders held sales and profit short of analysts’ expectations.

Revenue in the second quarter dropped by about 40%, BioNTech said on Monday. Diluted earnings per share were 6.45 euros, below the 7.44-euro average estimate of analysts surveyed by Bloomberg.

BioNTech and partner Pfizer Inc. are counting on an omicron-adapted vaccine to reinvigorate sales for the rest of the year. The first doses of a shot tailored for both the original coronavirus and the fast-spreading omicron BA.4/5 variant should be ready in October, in time for fall booster campaigns, BioNTech said. The companies will begin a clinical trial this month and manufacturing has already started.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.