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9/17, 10:19 AM (Source: TeleTrader)
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BioNTech buys Novartis site to boost vaccine production

BioNTech announced on Thursday it reached an agreement to buy Novartis' GMP certified manufacturing site in Marburg, Germany, in an effort to boost its COVID-19 vaccine production capacity.

The company noted the transaction is set to close in the fourth quarter of 2020 and coronavirus vaccine production capacity is expected to rise by up to 750 million doses per year once the site becomes fully operational. In the first half of 2021, BioNTech expects to manufacture up to 250 million doses of its vaccine candidate developed jointly with Pfizer.

"This acquisition reflects BioNTech’s commitment to significantly expanding its manufacturing capacity in order to supply a potential vaccine worldwide upon authorization or approval," BioNTech CFO and COO Dr. Sierk Poetting stated.

Breaking the News / NP