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BioNTech Reports Lower 2Q Earnings, But Sees Demand Uptick in 4Q

   By Cristina Roca 
 

BioNTech SE said Monday that its second-quarter earnings and revenue fell, but that its variant-adapted Covid-19 vaccine should help increase demand later this year.

The German biotechnology company--which has developed, together with Pfizer Inc., one of the most widely sold vaccines against Covid-19--reported a net profit of 1.67 billion euros ($1.70 billion), down from EUR2.79 billion during the same period a year earlier.

Diluted earnings per share were EUR6.45, down from EUR10.77 a year earlier.

Revenue for the quarter fell to EUR3.2 billion from EUR5.31 billion a year earlier, when it surged as BioNTech and Pfizer began to sell millions of doses of their Covid-19 vaccine.

BioNTech said it expects orders for Covid-19 vaccines to fluctuate from quarter to quarter for the rest of the year. It expects demand in important markets to pick up during the last three months of the year thanks to a vaccine that has been adapted for the Omicron variant of the coronavirus, currently subject to regulatory approval.

BioNTech backed its 2022 guidance, including a goal of hitting Covid-19 vaccine revenue of EUR13 billion to EUR17 billion.

 

Write to Cristina Roca at cristina.roca@wsj.com

 

(END) Dow Jones Newswires

August 08, 2022 06:44 ET (10:44 GMT)

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