From vaccine superstar to nuisance: The difficult search for the future of Biontech
The Mainz-based company is closing three sites in Germany for which it has not found a buyer. It is now focusing fully on cancer medications. The new path is full of obstacles.
Biontech is closing three locations in Germany, including Tübingen, Marburg, and Idar-Oberstein, after failing to find a buyer for them. The company, known for developing the first COVID-19 vaccine, is shifting its focus to cancer medications and will cut 1,800 jobs, leaving it with 5,400 employees worldwide. Biontech's founders, Uğur Şahin and Özlem Türeci, will leave the company by the end of the year to focus on basic research.
The company's new CEO, Guido Oelkers, faces challenges, including a significant drop in revenue and increased net loss.
Written by urgent.news from NZZ Wirtschaft's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
