PARIS/BERLIN (Reuters) – BioNtech fell sharply on the stock market on Monday morning after Pfizer lowered its revenue forecast for the whole year on the back of lower-than-expected sales of its vaccines and treatments of COVID-19.
On the Frankfurt Stock Exchange, around 08:05 GMT, BioNtech shares fell 7.52%, compared to a decline of 0.32% for the Dax and 0.20% for the Stoxx 600.
The German group, partner of Pfizer, announced on Monday that it anticipated an impact of 900 million euros on its third quarter accounts due to depreciation and other charges recorded by the American laboratory.
This amount represents half of the gross profit sharing agreement concluded between BioNTech and Pfizer on the Comirnaty vaccine against COVID-19 jointly developed by the two groups.
BioNtech will publish its full quarterly accounts on November 6.
Publishing its results and outlook, Pfizer announced on Friday that it expects a 13% drop in its turnover for this year, a cost reduction of $3.5 billion through job cuts and expenses.
The American group had achieved record turnover in 2021 and 2022, notably exceeding $100 billion last year, thanks to a strong vaccination campaign against COVID-19 across the world.
In after-hours trading, Pfizer fell about 7% on the New York Stock Exchange.
(Writing by Claude Chendjou, with Rachel More, edited by Kate Entringer)
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