The German mRNA company BioNTech, owner and legal manufacturer
of what is more commonly known as the “Pfizer” COVID-19 vaccine, has
fallen on hard times. Well, not so hard, given that BioNTech cleared
nearly €30 billion in profits on sales of the product during 2021 and
2022 and still has a reported €18 billion in cash or cash equivalents on
hand.
But, in any case, with no other product authorised for
use and the market for COVID-19 vaccines, needless to say, having
crashed, BioNTech has gone back to losing money. This was all it ever
did in fact from the time of its founding in 2008 until 2021, and, as
reported in a recent article in the German daily Der Tagesspiegel, the
firm booked €300 million in losses in the first quarter of 2024 on
€187.6 million in sales.
But apparently the firm is confident
that good times – for it, at any rate – are just around the corner,
since, according to its projections, it will achieve total sales roughly
15 times greater than that for 2024 as a whole: namely, between €2.5
and €3.1 billion. Thus, BioNTech Chief Financial Officer Jens Holstein
notes: “We expect to achieve around 90% of our total annual sales in the
final months of 2024, primarily in the fourth quarter of 2024.”...<<<Read More>>>...