BioNTech Raises Sales Outlook on Boost from Bristol Payments

BioNTech SE raised its sales forecast for the year, helped by a boost from its partnership with Bristol-Myers Squibb Co.

The German biotech now expects revenue as high as €2.8 billion ($3.2 billion) this year, up from a previous peak of €2.2 billion, the company said Monday. It recognized a $700 million payment from Bristol-Myers as revenue in the third quarter.