BioNTech eyes up to 17 bln euros in vaccine revenue in 2022
BioNTech (22UAy.DE) said it would likely generate up to 17 billion
euros ($19 billion) in 2022 revenue from the COVID-19 vaccine it
co-developed with Pfizer (PFE.N), pledging to spend earnings on
development of cancer drugs and new vaccines.
In presentation slides for J.P. Morgan's annual healthcare
conference, which is being held virtually this year, the German
biotech firm said on Tuesday it expects 13 billion to 17 billion
euros in revenue accruing to it from the vaccine this year, which
compares with a guidance of 16 billion-17 billion euros for 2021.
The financial windfall from the Comirnaty shot, its first product on
the market since the company's 2008 inception, presents a "historic
chance to accelerate our vision through reinvestment in the
company", it said in the slides.
Encouraged by the earnings prospects, BioNTech has accelerated
clinical testing on humans of various product candidates, by far the
most expensive phase of developing new medicines.
According to the presentation, it started five clinical trials last
year with experimental oncology drugs previously not tested on
humans and moved two trials into the second phase of testing on
humans. Three phases are typically needed for market approval
though in oncology regulators are increasingly considering clearance
even after the second phase.
BioNTech has an influenza vaccine in the first phase of testing on
humans and plans to start human testing of four vaccine candidates
against shingles, malaria, tuberculosis and herpes simplex this
year. In another sign of rapid growth, the headcount in research
and development increased by 40% last year to more than 850 staff.
