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COVID-vaccine maker BioNTech reports $1.37B profit in Q1
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BERLIN – German pharmaceutical company BioNTech reported a net profit of 1.13 billion euros ($1.37 billion) in the first quarter of this year on the back of strong revenues from its coronavirus vaccine.
The company's estimated revenues surged to over 2 billion euros for the period from January to March, compared with just 28 million euros in the same period last year.
BioNTech developed the first widely used vaccine against COVID-19 together with U.S. partner Pfizer, which holds the market and distribution rights in much of the world.
The Mainz-based company said its revenues included over 1.75 billion in gross profits from vaccine sales in Pfizer's territories, and almost 200 million from sales to customers in its region.
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COVID-19
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Recovered: 0
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