German GDP will also show how much BioNTech has made from vaccines

German GDP will also show how much BioNTech has made from vaccines

Germany is the richest country in Europe, so no one really believes that a quarterly profit for a company, and not for a very large company in general, can move GNP. On the other hand, the coronavirus appears to be rewriting all the rules, as it appears that BioNTech, the first authorized vaccine against the coronavirus, has earned so much in vaccines that the company alone will be responsible for 0.5 percent of Germany’s economic growth this year.

All of this was calculated by economist Sebastian Dollian, research director at the German Economic Research Institute (IMK), the company said on Monday. quarterly report Based on. Dolin A on Twitter He wrote about all this, adding that as a macroeconomist he rarely deals with a company’s income data, but the company that developed the vaccine, jointly listed with Pfizer, has become such a major player in the German economy that it has to deal with it.

BioNTech plant in Marburg.

Photo: Abdelhamid Hussein/Anadolu Agency, via Agence France-Presse

According to a report by BioNTech on Monday, the company has so far contracted to sell 2.2 billion doses of the vaccine, and is expected to generate 15.9 billion euros in revenue this year. And in 2022 and beyond, another billion doses of the vaccine are expected to be sold with Pfizer.According to Doleen, that equates to roughly 0.5% of Germany’s $3.3 trillion GDP, a largely unexpected performance from a startup. And since, according to the economist, most of the raw materials are sourced from within Germany at the BioNTech plant in Marburg, much of this €15.9 billion will remain in the German economy. This is quite different from other major players in the German economy, especially car companies, which import a large part of raw materials and components from abroad, such as Hungarian factories, which means that only a part of the revenue recorded by the German parent companies remains in the German economy. The Marburg plant has the capacity to produce one billion doses of the vaccine per year.

Based on a recent quarterly report, Pfizer expects to get a total of $33.5 billion, or €28.6 billion at today’s exchange rate, from a coronavirus vaccine this year, a portion of which BioNTech will receive in the form of licensing fees.

The German economy, including BioNTech’s contribution, is expected to grow by 3.7 percent this year, after a 4.6 percent drop in GDP last year due to the pandemic. (ReutersAnd Bloomberg)

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