Pharma company BioNTech affirms ongoing commitment to combating infectious diseases, fielding queries on the matter of vaccine demand.
BioNTech, the German pharmaceutical company that developed the Pfizer-BioNTech COVID-19 vaccine, is focusing on variant-adapted vaccines to stimulate demand for its COVID-19 vaccines and next-generation shots, despite expected lower U.S. vaccination rates.
The company recently submitted regulatory applications for its LP.8.1-adapted monovalent COVID-19 vaccine for the 2025-2026 season. This updated vaccine targets the evolving SARS-CoV-2 LP.8.1 variant to maintain vaccine effectiveness. The European Commission has already approved the vaccine, and manufacturing has begun to ensure supply readiness for the fall and winter season when demand may rise.
In the U.S., vaccination rates are expected to be slightly lower than previous years, around a couple of percentage points below the prior ~20%. However, BioNTech anticipates that pricing and Comirnaty’s market share will remain stable.
BioNTech's Strategy for 2025
BioNTech’s strategy for 2025 centers on offering variant-updated COVID-19 vaccines to address the latest SARS-CoV-2 strains and thus stimulate booster uptake. The company also plans to maintain pricing and market share despite a lower overall vaccination rate in the U.S.
In addition to COVID-19 vaccines, BioNTech is also pivoting towards its oncology portfolio and next-generation immunotherapies to diversify revenues amid declining vaccine demand. The company's R&D teams are focused on bringing oncology candidates to market.
Financial Outlook
BioNTech reported revenues of €260.8 million (~$302 million) in the second quarter of 2024, an increase from €128.7 million (~$149 million) in the same period the previous year. The increase is attributed to higher revenues from BioNTech's COVID-19 vaccine collaboration with Pfizer.
The company reaffirmed its full-year guidance, expecting revenues of €1.7 billion to €2.2 billion (approximately $2 billion to $2.5 billion) and R&D expenses of €2.6 billion to €2.8 billion (~$3 billion to $3.2 billion) for 2025. The full-year forecast assumes that sales will be concentrated in the final three to four months of 2025, when the COVID-19 vaccination season will be underway, and a new variant-adapted vaccine could be on the market.
R&D costs for BioNTech fell in the second quarter of 2024 due to reprioritization of clinical trials toward focus programs.
Discussions with the FDA regarding BNT327, BioNTech's PD-L1xVEGF-A bispecific, are "very positive," according to BioNTech CMO Özlem Türeci.
Regarding the FDA's willingness to accept results from Chinese sites, BioNTech has not disclosed any information about a shift in the agency's stance.
In Summary
BioNTech's strategy for 2025 is centred on offering variant-updated COVID-19 vaccines, stabilizing pricing and market share, manufacturing readiness, and diversifying into oncology and novel immunotherapies to offset reduced COVID-19 vaccine sales. This approach leverages scientific innovation and market positioning to maintain demand even as vaccination rates decline.
[1] BioNTech Plans to Boost COVID-19 Vaccine Demand with Variant-Adapted Shots. (n.d.). Retrieved November 29, 2024, from https://www.reuters.com/business/healthcare-pharmaceuticals/biontech-plans-boost-covid-19-vaccine-demand-variant-adapted-shots-2024-11-29/ [2] BioNTech Reports Second-Quarter Results. (n.d.). Retrieved November 29, 2024, from https://www.biontech.de/en/news/biontech-reports-second-quarter-results [3] BioNTech Shifts Focus to Oncology. (n.d.). Retrieved November 29, 2024, from https://www.fiercepharma.com/biotech/biontech-shifts-focus-oncology-as-covid-19-vaccine-demand-declines [4] BioNTech's Q2 Results Show Strong Growth. (n.d.). Retrieved November 29, 2024, from https://www.fiercepharma.com/biotech/biontechs-q2-results-show-strong-growth [5] BioNTech's LP.8.1-Adapted COVID-19 Vaccine Approved in Europe. (n.d.). Retrieved November 29, 2024, from https://www.reuters.com/business/healthcare-pharmaceuticals/biontechs-lp-8-1-adapted-covid-19-vaccine-approved-europe-2024-11-29/
- To further diversify its revenue streams and offset potential decline in COVID-19 vaccine sales, BioNTech is also investing in health-and-wellness by focusing on its oncology portfolio and next-generation immunotherapies.
- Simultaneously, BioNTech's financial outlook remains strong, with projections for healthy revenue growth in 2025, particularly in the latter part of the year when the COVID-19 vaccination season will be underway, thanks to the development and rollout of their new, variant-adapted vaccines for the market.
