Biontech sees some vaccine deliveries shifting to next year

Biontech said some deliveries of the Covid-19 vaccine it sells with Pfizer have shifted into next year, adding to concerns about future revenue for its only marketed product.

Biontech is ploughing the Covid revenue into its drug pipeline in a bid to show that its messenger RNA technology can be a broader platform to treat cancer as well as other infectious diseases.

As sales begin to wane for the pandemic shots, investors are watching closely for signs of whether BioNTech will be able to bring other products to market. Rival Moderna also fuelled concern last week when it gave its first hint at 2023 as interest in immunisation fades.

Unlike Moderna, BioNTech raised its forecast for the year, saying that the partners have invoiced some 300 million doses of an omicron-adapted version of the shot as of mid-October.

This year’s vaccine revenue will reach €16 billion to €17 billion, the company said, also citing the dollar’s strength against the euro and higher prices. Biontech’s previous estimated sales range was €13 billion to €17 billion.

Some vaccine deliveries have been shifted into 2023 due to “evolving dynamics of demand, according to BioNTech.

BioNTech also reported a 43 per cent sales drop to €3.46 billion in the third quarter as the early wave of vaccine orders subsided. Net profit fell 44 per cent to €1.78 billion in the period.

The company said it expects as many as 10 updates on clinical trials in cancer next year, and that it will start as many as five vaccine clinical trials in infectious diseases. – Bloomberg