Vaccine maker BioNTech has forecast a worse than expected slump in revenues this year as demand for coronavirus immunisation wanes, underlining the scale of the challenge facing companies that enjoyed windfalls from the pandemic.
The German biotech company, Pfizer’s partner for the Covid-19 vaccine, said on Monday that revenues from Covid vaccines would drop to about €5bn in 2023. That compares with total revenues of more than €17bn in 2022 and €19bn the year before that, the vast majority of them generated by coronavirus jabs.
The drop was worse than market expectations, with analysts forecasting total revenues of almost €8bn in 2023, according to Bloomberg data.
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