German biotech firm BioNTech has announced a major pull-back in its global manufacturing footprint following a sharp decline in COVID-19 vaccine sales. The strategy aims to reallocate resources toward its long-term goal of becoming a multi-product company focused on oncology.
Manufacturing pullback and workforce reduction BioNTech plans to eliminate approximately 1,860 jobs and exit its manufacturing operations in Singapore and the German cities of Idar-Oberstein, Marburg, and Tübingen.
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Timeline: The exit from the German sites is expected by the end of 2027, while Singapore operations are scheduled to wind down in the first quarter of that year.
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Financial goals: This restructuring is projected to generate recurring annual savings of about 500 million euros ($585 million) by 2029. These funds will be dedicated to advancing the company’s oncology pipeline toward commercialization.
Revenue challenges and leadership transition The decision follows a reported net loss of 531.9 million euros in the first quarter of 2026. Revenue from the Pfizer-partnered vaccine, Comirnaty, continues to dwindle across key markets in the U.S. and Europe.
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Revenue forecast: The company anticipates 2026 revenues to fall between 2 billion and 2.3 billion euros, a significant drop from the 2.9 billion euros reported last year.
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Leadership change: This transition occurs as co-founders Dr. Uğur Şahin and Dr. Özlem Türeci prepare to depart the company by year-end to launch a new venture.
Vision for 2030 Under new leadership, BioNTech aims to evolve into a “multi-product company by 2030.” The firm is currently scaling its business for late-stage oncology development and commercial readiness while maintaining strict cost discipline and evaluating potential corporate development opportunities.