BioNTech declares net profit of €2.05 billion
Another COVID-19 vaccine maker proves yet again that the vaccine is a great revenue generator.
The German biotechnology group/company that developed the first COVID-19 vaccine, BioNTech, had the value of its shares rallying by 8% after it released its reports for the first quarter of 2021, declaring a net profit of €2.05 billion. During the first quarter of 2020, BioNTech recorded a net profit of €27.7 million.
BioNTech claims to have provided up to 91 countries with over 450 million doses of its COVID-19 vaccine, following an agreement to circulate 1.8 billion doses of the vaccine in 2021.
The company in collaboration with the European Commission will be providing the European Union with an additional 100 million doses of its COVID-19 vaccine, rounding up the total number of vaccines available to the European Union to 600 million.
Also, BioNTech in conjunction with Pfizer is going to be giving multiple million doses of their COVID-19 vaccine to Israel in 2022. This also applies to Canada whose agreement for over 125 million doses of BioNTech’s COVID-19 spans from 2022 to 2023.
The company has also announced that they will be donating doses of their COVID-19 vaccine to be used in vaccinating athletes during the Olympic and Paralympic Games Tokoyo 2020, which will be taking place in July of 2021.