BioNTech's Ugur Sahin and Özlem Türeci after receiving the Federal Cross of Merit, March 19, 2021 (Bernd von Jutrczenka/picture-alliance/dpa/AP Images)

BioN­Tech makes a splash with $10B+ pro­jec­tion for 2021 Covid-19 vac­cine sales

BioN­Tech, Pfiz­er’s rel­a­tive­ly qui­et Ger­man biotech part­ner for its Covid-19 vac­cine, made noise on Tues­day with its earn­ings re­port, pro­ject­ing about €10 bil­lion ($11.5 bil­lion) in vac­cine rev­enue based on the cur­rent­ly signed sup­ply con­tracts for about 1.4 bil­lion dos­es.

The €10 bil­lion pro­jec­tion for the grow­ing com­pa­ny, found­ed by the hus­band and wife team of Ugur Sahin and Özlem Türe­ci, comes al­most ex­act­ly a year af­ter the com­pa­ny first an­nounced its plans to join up with Pfiz­er and bring its mR­NA-based vac­cine to fruition. That pro­jec­tion al­so dwarfs Pfiz­er’s orig­i­nal agree­ment to pay BioN­Tech $185 mil­lion up­front for the vac­cine col­lab­o­ra­tion, even with the po­ten­tial fu­ture mile­stone pay­ments of up to $563 mil­lion.

By com­par­i­son, Pfiz­er has pro­ject­ed about $15 bil­lion in Covid-19 vac­cine sales for this year, while Mod­er­na is prep­ping for about $18 bil­lion in 2021 vac­cine sales.

An in­creased de­mand in the Pfiz­er/BioN­Tech Covid-19 vac­cine al­so means BioN­Tech said it will in­crease man­u­fac­tur­ing ca­pac­i­ty from 2 bil­lion dos­es in 2021 to 2.5 bil­lion dos­es.

“The in­crease is dri­ven by the op­ti­miza­tion of pro­duc­tion process­es, the re­cent ini­ti­a­tion of pro­duc­tion at BioN­Tech’s Mar­burg, Ger­many fa­cil­i­ty, reg­u­la­to­ry ap­proval for six dose vials, and the ex­pan­sion of our man­u­fac­tur­ing and sup­pli­er net­work,” the com­pa­ny said. The first batch­es of vac­cines from the Mar­burg site are ex­pect­ed to be de­liv­ered in the sec­ond half of April.

The com­pa­ny al­so said it more than quadru­pled its an­nu­al rev­enue in 2020 when com­pared to 2019, not­ing rev­enues were es­ti­mat­ed to be €482.3 mil­lion ($566 mil­lion) last year, com­pared to €108.6 mil­lion ($127 mil­lion) for 2019.

The in­flux of new rev­enue means the com­pa­ny can ac­cel­er­ate its pipeline of can­cer drugs, not­ing that this year it ex­pects at least four da­ta up­dates from po­ten­tial can­cer drugs, with up to three pro­grams ex­pect­ed to move in­to ran­dom­ized Phase II tri­als and six pre­clin­i­cal pro­grams mov­ing in­to Phase I tri­als.

BioN­Tech’s stock has cat­a­pult­ed from $40 per share at the be­gin­ning of 2020 to more than $100 per share to­day, with about a 6% jump on Tues­day’s fi­nan­cial re­port. That leaves the com­pa­ny with a $23 bil­lion-plus mar­ket cap.

For a look at all End­points News coro­n­avirus sto­ries, check out our spe­cial news chan­nel.

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