COVID-19 jab manufacturer BioNTech intends to close multiple sites in Germany after demand for the experimental shot plummeted.
“Despite the intensive efforts of all parties involved and a broad-based sales process, it was unfortunately not possible to realize a sale,” a BioNTech spokesperson told Fierce Pharma.
Fierce Pharma explained further:
“BioNTech intends to reinvest these savings, as part of its capital allocation strategy, into advancing its oncology pipeline toward commercialization,” the spokesperson added.
Reuters noted:
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[H/T 100PercentFedUp]