BioNTech to shutter three sites in Germany as no buyers emerge
The restructuring affects up to 1,860 jobs as BioNTech shifts COVID-19 vaccine production to Pfizer and targets annual savings of about $587 million.
- BioNTech will close its manufacturing sites in Marburg, Tübingen and Idar-Oberstein after failing to find buyers despite months of efforts.
- The closures are expected to affect up to 1,860 jobs as the company restructures its operations following the decline in demand for COVID-19 vaccines.
- BioNTech plans to shift vaccine production to its partner Pfizer while increasingly focusing its business on cancer treatments and other mRNA-based therapies.
- The company said it has been working with employee representatives on socially responsible measures, including additional redundancy packages for affected workers.
- The closures are scheduled to be completed by the end of 2028, with Tübingen expected to shut in late 2027, Marburg in early 2028 and Idar-Oberstein by the end of 2028.
102 Articles
102 Articles
Germany's BioNTech, which developed one of the most widely used COVID-19 vaccines with Pfizer during the pandemic, will close three locations in Germany. The company has been looking for buyers for them, but has not found them despite an extensive sales process. The closures are part of a broader restructuring of its production network, with which BioNTech is increasingly focusing on the development of cancer drugs after the decline in demand fo…
BioNTech will close three units in Germany after failing to find buyers for the assets, in a decision that may affect up to 1,800 workers and which reflects the strong ongoing adjustment in the mRNA vaccine industry after the collapse of the global demand for vaccines against the covid-19. In addition to the German assets, BioNTech also maintains plans to close the Singapore factory, acquired at Novartis in 2022.
The German manufacturer of vaccines against Covid-19 BioNTech said, on Monday (28), that it will close units in Germany that did not manage to sell, as it moves away from the production structure assembled during the pandemic. Despite the best efforts of all involved and a wide sales process, unfortunately it was not possible to conclude a transaction, said a spokesman. The spokesman added that the biotechnology company reached an agreement with…
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