BioNTech (BNTX) is closing multiple global sites and cutting up to 1,860 jobs while initiating up to $1B in share buybacks, as it shifts Covid-19 vaccine production to Pfizer (PFE) and pivots away from pandemic-era manufacturing amid ongoing losses and a broader strategic transition, Reuters reports. BioNTech is exploring options including a partial or total sale for each site.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BNTX:
- BioNTech Posts Wider Q1 Loss as It Doubles Down on Oncology and Plans $1 Billion Buyback
- BioNTech Posts Wider Q1 2026 Operating Loss as R&D Spend Weighs on Results
- BioNTech reports Q1 adjusted EPS (EUR1.95) vs. (EUR1.79)
- BioNTech reaffirms FY26 revenue view EUR2.000B- EUR2.300B
- Analyst Reiterates Buy on BioNTech, Maintains $130 Price Target on Strength of Pumitamig Oncology Pipeline