Big plans of BioNTech with billions earned
With its corona vaccine, BioNTech has risen to the very top of the world's pharmaceutical industry - both scientifically and financially.Source: Deutsche Welle
However, the company is already considering the time after this pandemic and is preparing a huge investment in Singapore.
In the first quarter of last year, BioNTech still recorded a loss of about fifty million euros, but all the costs of research and investment paid off. It is currently working to increase production. BioNTech from Mainz increased its turnover in the first quarter of 2021 compared to the same period in 2020 - by over 70 times to about 2 billion euros. Revenues have tripled - to about 1.1 billion euros.
In the first place, it happened thanks to the manufactured shot: "I am extremely happy with the uniqueness of our team and cooperation with our partner Pfizer. The vaccine was, far and away, Pfizer’s biggest source of revenue. To date, we have delivered over 450 million doses to 91 countries," said one of BioNTech's founders, Uğur Şahin.
BioNTech is ready to take on the role of a global concern that will have business even after the coronavirus pandemic. Their specialty will continue to be vaccines against infectious diseases - genetically modified preparations that are predicted to play a major role in medicine, all the way to the fight against cancer.
Plans for after the coronavirus pandemic
When it comes to the vaccine, BioNTech is planning a headquarters for Southeast Asia in Singapore, where a plant is planned that will be able to produce up to a billion doses of vaccine a year. BioNTech does not want to talk specifically about the amount of investment, but in any case it is "hundreds of millions of US dollars." According to media reports, Singapore is ready to accept and participate in the investment, and the plant there should start operating already in 2023.
Last year, BioNTech also established its headquarters in Cambridge in the American federal state of Massachusetts. Moreover, cooperation has been agreed with the Chinese pharmaceutical concern Fosun Pharmaceuticals, which also recently announced the construction of a new production plant with a capacity of about a billion doses of vaccine per year. BioNTech-Fosun against the coronavirus vaccine should receive approval in China this summer.
Vaccines will soon be available to everyone
The largest buyer of BioNTech is still the EU, which recently significantly increased its order. It seems that there will be a sufficient dose of vaccine in the EU in the near future, but in poorer countries the situation is much worse.
After this has been a topic in the World Health Organization several times, recently, US President Biden allowed the possibility of suspending the patent for the coronavirus vaccine, so that it could be produced in poorer countries as well. Uğur Şahin believes that this would not help much in suppressing the pandemic, because even if the patent were suspended, it would take at least a year to build a plant anywhere that would be able to produce such complex preparations.
Other experts who monitor the work of the pharmaceutical sector do not think that this will be necessary: not only BioNTech but also other vaccine manufacturers are already working on expanding the capacity, and in the very foreseeable future there will be enough doses for everyone.