Kari

Kari, on behalf of Asthika Goonewardene, asked if there would be any milestone or royalty economics tied to BioNTech's IP for the new company. She also inquired about the expected step-down in COVID sales versus 2025 and the relative pressure from the U.S., EU, and Germany.

Answer

Ramón Zapata, CFO, stated that specific financial guidance on IP transfer to the new company is not yet provided, as terms are under negotiation, but no material short- or mid-term financial impact is expected for BioNTech. For COVID sales, he noted lower revenues are expected in 2026 due to market normalization and seasonal demand, with the U.S. being competitive, Europe transitioning from multi-year contracts, and Germany's direct sales having a direct impact on top-line revenue.

Kari asked if there would be milestone or royalty economics tied to BioNTech's IP transferred to the new company, and about the expected step-down in COVID sales for 2026, including relative pressure from the U.S., EU, and Germany.

Answer

CFO Ramón Zapata stated that specific financial guidance on IP transfer to the new company is not yet available, as terms are under negotiation for a binding agreement by H1 2026, with no material short or midterm financial impact expected for BioNTech. He anticipates lower COVID-19 vaccine revenues in 2026 due to market normalization, with pressure from the competitive U.S. market, Europe's transition from multi-year contracts, and direct sales declines in Germany impacting the top line.