BioNTech's quarterly profit soars on COVID-19 vaccine demand
ABC News
BioNTech has reported another quarter of strong earnings growth
BERLIN -- BioNTech, the German pharmaceutical company that teamed with Pfizer to develop the first widely used COVID-19 vaccine, on Wednesday reported strong quarterly earnings growth on pandemic-fueled demand.
The company posted net profit of nearly 3.2 billion euros ($3.6 billion) for the final three months of 2021, up from 367 million euros in the same period the previous year. Earnings per share rose to 12.18 euros from 1.43 euros a year ago.
Quarterly revenue rose to 5.5 billion euros from 345.4 million euros previously.
"Our 2021 COVID-19 vaccine revenues were significantly influenced by the extraordinary circumstances of the ongoing pandemic,” Chief Financial Officer Jens Holstein said in a press release.
