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BioNTech faces its biggest post pandemic crisis
German biotech firm BioNTech, best known for co-developing the mRNA COVID-19 vaccine Comirnaty with Pfizer, is facing its largest post-pandemic crisis, marked by plummeting COVID vaccine demand, a €532 million quarterly net loss, planned production site closures in Germany and Singapore cutting roughly 1,860 jobs, and the upcoming departure of founders Ugur Sahin and Özlem Türeci. The company is shifting its core focus to late-stage mRNA cancer treatment trials, aiming to cut €500 million in annual costs by 2029 while handing all remaining COVID vaccine manufacturing operations over to partner Pfizer.
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48- First seen
- May 7, 2026, 4:00 PM
- Last updated
- May 7, 2026, 4:19 AM
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BioNTech faces its biggest post pandemic crisis
May 7, 2026, 4:00 PM