German pharmaceutical company BioNTech says its earnings grew again in the third quarter
BERLIN — German pharmaceutical company BioNTech, which partnered with Pfizer to develop the first widely used COVID-19 vaccine, said Tuesday that its earnings grew again in the third quarter.
BioNTech, which is based in Mainz, reported a net profit of more than 3.2 billion euros ($3.7 billion) for the July-September period. That compares with the company’s loss of 210 million euros ($243 million) in the same period a year earlier and a second-quarter profit of almost 2.8 billion euros ($3.2 billion). Vaccinations with the Pfizer-BioNTech vaccine started started in December.
BioNTech reported revenue of nearly 6.1 billion euros ($7.1 billion), up from 67.5 million euros ($78 million) in the third quarter of 2020. It said that more than 2 billion doses of the COVID-19 vaccine, marketed as Comirnaty, had been delivered this year as of Nov. 2.
The company has said the windfall from its mRNA-based coronavirus vaccine will help it to develop drugs against cancer and other diseases.
BioNTech’s net profit for the year’s first nine months was over 7.1 billion euros ($8.2 billion), compared with a loss of 351.7 million euros ($407 million) in the same period a year earlier.
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