Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Jens Holstein"


2 mentions found


The logo of BioNTech is pictured at Biontech's research laboratory for individualised vaccines against cancer in Mainz, Germany, July 27, 2023. In a statement on Monday, the German biotech company cut its outlook for full-year COVID-19 vaccine revenues to about 4 billion euros from 5 billion previously expected and the 17.2 billion reported last year. But the reduced revenue prospects prompted the Mainz-based company to cut its 2023 research and development (R&D) budget for the second time, forecasting a range from 1.8 to 2 billion euros, down from between 2 and 2.2 billion euros laid out in August. Third-quarter revenues were 895 million euros, broadly in line with an analyst consensus compiled by LSEG and down from 3.46 billion from a year earlier. ($1 = 0.9306 euros)Reporting by Ludwig Burger, Editing by Rachel More and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.
Persons: Wolfgang Rattay, Jens Holstein, LSEG, BioNTech, Ludwig Burger, Rachel More, Barbara Lewis Organizations: REUTERS, Pfizer writedowns, Pfizer, Thomson Locations: Mainz, Germany, FRANKFURT
REUTERS/Wolfgang Rattay/File PhotoFRANKFURT, Aug 7 (Reuters) - Germany's BioNTech (22UAy.DE), Pfizer's (PFE.N) partner on COVID-19 vaccines, cut its drug development budget for this year after quarterly revenues were hurt by a plunge in pandemic-related demand. The quarterly net loss was 190 million euros, down from a COVID-19-fuelled profit of 1.67 billion euros a year earlier. The company said it cut its projected research and development (R&D) budget for this year to between 2 and 2.2 billion euros, down from between 2.4 and 2.6 billion euros previously forecast. R&D expenditures were 1.54 billion euros last year. BioNTech reaffirmed its outlook for COVID-19 vaccine revenues to reach about 5 billion euros in 2023, down from 17.2 billion euros last year, expecting a renewed sales boost from an inoculation campaign in the fall.
Persons: Wolfgang Rattay, Jens Holstein, BioNTech, Ludwig Burger, Miranda Murray, Friederike Heine, Louise Heavens Organizations: REUTERS, Pfizer, Thomson Locations: Mainz, Germany
Total: 2