BioNTech Buys a Plant to Manufacture Its Coronavirus Vaccine

BioNTech (NASDAQ: BNTX) and Pfizer (NYSE: PFE) haven't even released phase 3 clinical trial data for their coronavirus vaccine, BNT162b2, but BioNTech is already preparing to ramp up production next year through the acquisition of a manufacturing plant from Novartis (NYSE: NVS). BioNTech and Novartis didn't disclose the financial terms of the transaction. The manufacturing plant, which is located in Marburg, Germany, can produce up to 750 million doses per year.