50/50 Split: BioNTech and the Pfizer Illusion

Pfizer splits profits on sales 50-50 with the actual developer and owner of the product: German firm BioNTech

• The main financial beneficiary from sales of the “Pfizer” vaccine is in fact BioNTECH
• Apart from its 50% share of the profit on Pfizer-branded sales, Bio NTech also does direct sales in two reserved territories (Germany and Turkey), and has a separate agreement with Fosun Pharma assuring it 30-39% of profits on the vaccine’s sales in China
• Pfizer merely manufactures and sells it in certain markets on BNT162b2 on their behalf
• BNT has a whopping 2021 pre-tax profit margin of 79%
• It has never commercialized any other product, and pays 1/3 of its profits as corporate tax in Germany
• Its profit margin is roughly three times higher than Pfizer's, which is why there is so much focus on the Covid vaccine market to the exclusion of BNT

https://brownstone.org/articles/50-50-split-the-biontech-and-the-pfizer-illusion/