BioNTech buys a plant to manufacture its coronavirus vaccine

BioNTech (NASDAQ: BNTX) And Pfizer (NYSE: PFE) It has also not released Phase 3 clinical trial data for its coronavirus vaccine, BNT162b2, but BioNTech is already preparing to ramp up production next year through the acquisition of the production plant Novartis (NYSE: NVS). BioNTech and Novartis did not disclose the financial terms of the transaction.

The manufacturing plant, which is located in Marburg, Germany, can produce 750 million doses per year. BioNTech plans to take ownership in the fourth quarter of 2020. It will take some time to convert this plant into production of BNT162b2.

Nevertheless, Biotech has an ambitious goal of getting the plant up and running quickly enough, so that the company can produce 250 million doses of BNT162b2 in the first half of 2021. BioNTech noted that “well” accelerated infection is possible at the plant. Biotechnology established pharmaceutical substance and pharmaceutical product manufacturing equipment as well as an experienced team. ”

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Given the manufacturing capabilities of BioNTech and Pfizer, the companies have previously stated that they expect to be able to produce 100 million doses by the end of this year and 1.3 billion doses by the end of 2021. The vaccine is a two-dose diet, so the actual patients who can be protected are half of the dose produced.

Pfizer and BioNTech hope to have Phase 3 clinical trial data next month that will show BNT162b2 saves participants from receiving COVID-19, but the timing of the data release is ultimately on the rate of infection for the group receiving that location Will be based