Optimistic thanks to Omikron: Biontech increases prognosis

Optimistic thanks to Omikron: Biontech increases prognosis

Dhe vaccine manufacturer Biontech tore investors back and forth on Monday with ambiguous messages. On the one hand, the message of a significant decline in business in the third quarter was a shock. Sales and profits fell by more than 40 percent compared to the same period last year. This slump was justified by the fact that the pandemic was developing dynamically, as expected, which led to fluctuating quarterly revenues.

At the same time, however, the new ones, adapted to the omicron variant of the coronavirus vaccine management to look to the future with more confidence. The Mainz-based company raised its revenue forecast for the year as a whole.

The price of the on the American technology exchange Nasdaq The listed Biontech share moved in a rollercoaster ride from a pre-market daily high to a subsequent daily low with losses of more than 4 percent and then back into the black at around 3 percent.

CFO Jens Holstein spoke of a “strong performance” in the third quarter, which is why the sales forecast for the Covid 19 vaccine for the current financial year has been raised to the upper end of the original range. Instead of the previously indicated 13 to 17 billion euros, 16 to 17 billion euros are now being targeted. “We started shipping our Omicron-adapted bivalent vaccine in early September and expect to continue doing so in the fourth quarter of 2022,” he said.

300 million Omikron doses

Together with its partner Pfizer, the German biopharmaceutical company sold around 300 million doses of the omicron BA.1 and Omikron BA.4/BA.5 adapted bivalent vaccines. Overall, the company assumes that up to 2.1 billion corona vaccine doses will be invoiced this year. “Some can deliveries have been postponed to 2023 due to the developing demand dynamics,” it added. This, in turn, fueled concerns about the future revenues that Biontech can achieve with its only marketed product to date.

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