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BioNTech (Nasdaq: BNTX), the German partner of Pfizer (PFE) for the Comirnaty COVID vaccine, lost ~3% It pre-market on Monday after announcing its financial statements for the fourth quarter of 2022 and predicting its share of vaccine revenues will be around 5 billion euros this year.
BioNTech’s Community (BNTX) Only the commercial product helped the company to record approximately €4.2 billion and approximately €17.3 billion for the fourth quarter of 2022 and the full year, which means a decrease of about 23% annually and almost 9% respectively.
During 2022, Pfizer (PFE) and BNTX sold about 2 billion doses of Comirnaty, including about 550 million doses of the modified version of Omicron.
“We made great progress in 2022 with the development of our pipeline and the launch of the world’s first bivalent Omicron BA.4/BA.5 vaccine against COVID-19,” CEO Ugur Sahin noted.
As the impact of the pandemic wanes, the company expects fewer initial vaccines and fewer booster levels. Revenue generation is expected to carry over significantly into the latter half of the year as demand becomes more seasonal.
The company reported net profits of approximately €2.3 billion and €9.4 billion in the fourth quarter of 2022 and the full year, meaning declines of approximately 28% annually and approximately 8% year-on-year, respectively, while cash and cash equivalents came in at €13.9 billion compared to in euros. 1.7 billion a year ago.
BioNTech (BNTX) also announced a share buyback program worth up to €0.5 billion for the remainder of the year.
In January, Pfizer (PFE) forecast Comirnaty’s revenue for 2023 would be approximately $13.5 billion, which would be a 64% decrease from 2022.
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