"BioNTech is closing production centers in Idar-Oberstein, Marburg, Singapore, and Tubingen, with plans to complete closures by the end of 2027."
"The company anticipates that up to 1,860 jobs could be affected amid the expanded restructuring, following previous announcements of job cuts."
"BioNTech is reacting to a marked decline in demand for COVID vaccines, which are now mainly administered to the elderly and high-risk individuals."
"The company is incurring hefty losses during this research and restructuring phase, hoping for a payout when clinical trials are complete."
BioNTech is winding down its COVID vaccine production, transferring responsibilities to Pfizer. The company is closing multiple production centers, including facilities in Germany and Singapore. Up to 1,860 jobs may be affected due to this restructuring. The decision is driven by a significant decline in demand for COVID vaccines, which are now primarily given to high-risk individuals. BioNTech is incurring losses during this transition, aiming to invest in cancer research for future growth while maintaining its main base in Mainz.
Read at www.dw.com
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