BioNTech to close three German sites after failed sale efforts

BioNTech will close three sites in Germany after failing to find buyers for the facilities, the company said. The sites are located in Marburg, Idar-Oberstein and Tübingen. BioNTech will also shut down its operations in Singapore.

The company had announced plans in May to sell the facilities as part of a restructuring of its manufacturing operations. BioNTech attributed the unsuccessful sale efforts to a difficult market and investment environment. It said it had reached agreements with its works council on additional redundancy terms for affected employees.

The three German closures will affect about 1,800 employees. BioNTech had previously said its wider restructuring could affect up to 1,860 positions. The Mainz-based company became globally prominent during the COVID-19 pandemic after developing an mRNA vaccine with Pfizer.

Demand for COVID vaccines has since fallen sharply, leaving BioNTech with excess manufacturing capacity. The company is increasingly directing resources towards its oncology pipeline. It has said the restructuring could eventually produce annual savings of about €500 million, or $587 million.

Separately, Germany is marking the 75th anniversary of its Federal Constitutional Court. President Frank-Walter Steinmeier said the court remained important as liberal democracy faced threats from political extremes, calling it a guarantee of democratic resilience.