BioNTech (BNTX) Chief Executive Ugur Sahin said on Tuesday that the company could make 3 billion doses of its Pfizer The vaccine from Covid’s partner (PFE) in 2022 – and BNTX’s shares erupted on Wednesday.
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Sahin offered the point of view during an interview for Bloomberg TV.
“In principle, we could further increase manufacturing capacity,” he said. “It depends on demand, it depends on factors such as the need for additional reinforcement in vaccines”.
Also a benefit to BNTX’s actions, the European Commission has reached an agreement for an additional 4 million doses of Covid vaccine from companies in the next two weeks. Europe is struggling with Covid’s hot spots, which imposes travel restrictions.
BNTX’s shares jumped 1.6% to 98.02 on the stock market today. Pfizer’s shares rose 1.4% to 34.93.
BNTX stock: 2 billion planned doses
Sahin says BioNTech and Pfizer have registered 1.3 billion orders so far.
The companies plan to make 2 billion doses this year. The vaccine is a two-dose regimen, which is enough to inoculate 1 billion people. BNTX’s shares have another chance to increase when Pfizer finishes sending 300 million doses to the United States. Europe has ordered at least 500 million.
On Wednesday, the European Commission said it added an additional 4 million doses to its request. The Commission hopes that the additional doses will help “combat aggressive variants” and improve the situation at Covid’s critical points, President Ursula von der Leyen said in a written statement.
“This will assist Member States in their efforts to keep the spread of new variants under control,” she said. “Through their targeted use where they are most needed, particularly in border regions, these doses will also help to guarantee or restore the free movement of goods and people.”
Variants test covid vaccines
The emergence of viral mutations remains a concern for investors in vaccine stocks, including shares in BNTX. Pfizer and BioNTech are testing a third lower dose of their original coronavirus vaccine as a booster injection. The companies also plan to study a specific vaccine for a variant discovered in South Africa.
Laboratory studies using the blood of vaccinated people and manipulated viruses show coronavirus vaccines from Pfizer / BioNTech and Modern (MRNA) appear to be less effective against South Africa’s mutation.
About that, Novavax (NVAX) said his coronavirus vaccine was 60% effective against that specific variant. Johnson & Johnson (JNJ) – whose vaccine is authorized in the USA – says that his drug is 57% effective in blocking the South African variant.
In related news, President Joe Biden said on Wednesday that his government will buy another 100 million doses of Johnson & Johnson’s Covid vaccine.
J&J shares rose 0.9% to 159.15. Novavax’s shares rose 1.5% to 172.50. Moderna’s shares fell 0.9% to 129.75. Meanwhile, BNTX shares are forming a cup base with cable with a buying point of 121.09 on its weekly chart, according to MarketSmith.com.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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