Three Billionaires Behind Pfizer’s Vaccine Partner BioNTech Are $2 Billion Richer After It Announces Covid-19 Vaccine Results
Sumary of Three Billionaires Behind Pfizer’s Vaccine Partner BioNTech Are $2 Billion Richer After It Announces Covid-19 Vaccine Results:
Dpa/picture alliance via Getty Images Stocks rallied on Monday after pharmaceutical giant Pfizer announced positive results from phase three trials of its Covid-19 vaccine — developed in partnership with German biotech outfit BioNTech — indicating that it could be 90% effective against the coronavirus..
The soaring stock price boosted Şahin net worth by more than $500 million to about $4.4 billion, while the Struengmann brothers collectively added nearly $1.5 billion to their fortunes, with each now worth an estimated $10.4 billion..
Şahin, 54, first joined the three-comma-club earlier this year when — much like today rally — BioNTech shares rose on the back of positive news from its vaccine collaboration with Pfizer..
That firm, Ganymed Pharmaceuticals, was sold to Astellas Pharmaceuticals in 2016 for $460 million (plus an additional $940 million if certain milestones were met)..
Unlike earlier vaccines, which relied on weakened forms of a virus to spur immunity, the Pfizer-BioNTech vaccine uses messenger RNA — the molecules in cells that control protein production — to direct the immune system to make coronavirus-fighting antibodies..
It a new technology that also being pioneered by Cambridge-based biotech firm Moderna, which saw its stock rise by 9% as of 1:30 pm ET on Monday..
Moderna share price has been on a tear since January thanks to its own Covid-19 vaccine candidate, which is currently in phase three trials…
