Tuesday, November 9th, 2021
It’s not just Pfizer that benefits
Biontech is also raising its sales forecast
The vaccine manufacturer Biontech corrects its forecast for the year 2021: Instead of the previous 15.9 billion euros, the Mainz-based company now expects sales of up to 17 billion – and thus also brings the Rhineland-Palatinate state capital an unexpected rain of money.
After its partner Pfizer, Biontech is also raising its forecast for its sales of the two companies’ Covid-19 vaccine. For 2021, Biontech now expects sales revenues with the vaccine of around 16 to 17 billion euros instead of the previous 15.9 billion, as the Mainz biotech company announced.
The forecast is based on currently signed supply contracts for up to 2.5 (previously around 2.2) billion vaccine doses this year. In total, Biontech and Pfizer aim to continue producing up to three billion cans by the end of the year. They are aiming for a production capacity of up to four billion cans in the coming year.
Pfizer recently raised its sales forecast for the vaccine to $ 36 billion this year from $ 33.5 billion and expects a further $ 29 billion in sales in 2022. In the third quarter, thanks to the vaccine business, Biontech posted total sales of EUR 6.08 billion after 67.5 million a year ago. The net profit amounted to 3.2 billion after a loss of 210 million euros in the same period of the previous year.
The success meanwhile brings the city of Mainz an unexpected billion plus – and with it undreamt-of development opportunities. Instead of the planned minus of 36 million euros, the Rhineland-Palatinate state capital will probably record a surplus of 1.09 billion euros at the end of the year, announced Finance Director Günter Beck (Greens) in Mainz.
“This development is sensational.” For 2022 an increase of 490.8 million euros is expected. With this, the state capital could pay its cash advances in the amount of around 634 million euros and will be deemed to be debt-free until the end of next year. “Nothing is more important than getting rid of the debt so that the city can run without shackles,” said Mayor Michael Ebling (SPD). “We are also assuming a significant surplus in the years to come.”
“The global success of Biontech has given our state capital a chance of the century,” said the President of the Chamber of Commerce and Industry for Rheinhessen (IHK), Peter Hähner. There is potential for around 5,000 new jobs in the next ten years, said Ebling.