BioNTech to Buy German Novartis Site to Expand Covid-19 Vaccine Production
September 17 2020 - 4:58AM
Dow Jones News
By Mauro Orru
BioNTech SE said Thursday that it has signed an agreement with
Novartis AG to acquire a manufacturing facility in Germany in a
move that is set bolster BioNTech's Covid-19 vaccine production
capacity by up to 750 million doses a year.
The German biotechnology company didn't disclose financial
details but said the transaction to take over the facility in
Marburg is expected to close in the fourth quarter of 2020.
"This acquisition reflects BioNTech's commitment to
significantly expanding its manufacturing capacity in order to
supply a potential vaccine world-wide upon authorization or
approval," said BioNTech Chief Financial Officer and Chief
Operating Officer Sierk Poetting.
BioNTech, which is evaluating the efficacy of vaccine candidate
BNT162b2 with Pfizer Inc. in a Phase 3 trial, said it should be
able to produce up to 250 million doses in the first half of
2021.
The vaccine is part of the BNT162 program, which includes five
candidates in clinical testing in the U.S., Europe, South America,
and China, BioNTech said.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
September 17, 2020 04:43 ET (08:43 GMT)
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