Pfizer to Sell Stake in Pandemic Vaccine Partner BioNTech
Pfizer and BioNTech teamed up in 2020 to develop a Covid-19 vaccine that went on to generate billions of dollars worldwide.
Photographer: Cyril Marcilhacy/BloombergPfizer Inc. is looking to sell its remaining stake in Covid-19 vaccine partner BioNTech SE, a remnant from one of the pandemic’s most lucrative collaborations.
The US drugmaker is offering about 4.55 million American depositary receipts via an overnight block trade marketed between $108 to $111.70 per share, according to people familiar with the matter. At the high end of the price range, the stake sale would be worth about $508 million for Pfizer.