(RTTNews) – BioNTech SE (BNTX) announced Thursday that it signed a percentage acquisition agreement to purchase Novartis AG’s GMP-certified production plant in Marburg, Germany, which expects the facility to be fully operational in the first part of 2021, aims to expand its COVID-19 vaccine production capacity.
In pre-market activity on the Nasdaq, BioNTech shares gained 3% over the industry at $68.
BioNTech will take full control with approximately three hundred employees. The acquisition will boost BioNTech’s efforts to develop its advertising production capacity to produce its COVID-19 BNT162 candidate vaccine.
Once completely inconsistent with the conventional, production will increase the production capacity of BioNTech’s COVID-19 vaccine to 750 million doses consistent with the year, or more than 60 million doses consistent with the month.
BioNTech expects to produce up to 250 million doses of BNT162b2 in the first part of 2021, thanks to established equipment and well-established production functions of pharmaceutical ingredients and prescription drugs on site.
According to the company, the Marburg production plant will be one of the largest mNR production sites in Europe and the third largest BioNTech production network site in Germany is expected to produce BNT162 for global supply.