BioNTech Buys German Factory to Boost Covid Vaccine Capacity
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BioNTech SE is buying a German manufacturing site with capacity to churn out 750 million doses a year of its Covid-19 vaccine, more than doubling the amount the company can produce as it prepares to help supply the world with its still-unproven shot.
The site purchase from from Swiss pharma giant Novartis AG shows the German biotech’s confidence in the experimental vaccine it’s developing together with U.S. partner Pfizer Inc. and China’s Shanghai Fosun Pharmaceutical Group Co. The site will enable BioNTech to ramp up production more quickly than if it had relied on expanding existing sites, as it had originally planned, Chief Executive Officer Ugur Sahin said in an interview late on Wednesday.