BERLIN, Nov 7 — German vaccine maker BioNTech lowered its 2023 sales forecast for its Covid-19 vaccine yesterday to around €4 billion (RM19.94 billion). In spring, the company had still predicted €5 billion (RM24.92 billion) in sales.
"As a result of later-than-anticipated regulatory approvals and their effect on national vaccination campaign timelines, expected sales have shifted to future periods," it said in a statement.
In addition, charges of over €1 billion (RM4.98 billion) by US partner Pfizer would impact sales, reported Xinhua.
In the first nine months of the year, BioNTech's sales slumped by 82 per cent year-on-year to €2.34 billion (RM11.66 billion), according to the company.
Net profit even dropped by 93 per cent to just €472 million (RM2.35 billion).
The number of Covid-19 infections in Germany has been rising since the beginning of autumn, but only a small number of residents, less than 16 per cent, have received a booster shot with a vaccine adapted to virus variants, according to the latest figures by the Robert Koch Institute.
Even among the over-60s and other high-risk patients for whom a booster is recommended, "there is still room for improvement," Nicola Buhlinger-Goepfarth, chairwoman of the German General Practitioners' Association, said at the beginning of the month.
With up to €2 billion (RM9.97 billion), BioNTech is investing the bulk of this year's turnover in research and development. The company's focus is on the development of an mRNA-based cancer vaccine, whose research also formed the basis of the Covid-19 vaccine.
"Our strategy focuses on assembling a diverse toolbox of complementary technologies to deliver novel therapies, aiming to improve the standard of care for cancer patients," BioNTech Chief Executive Officer (CEO) Ugur Sahin said.
— Bernama
