BioNTech gets US agency notice over default on COVID vaccine royalties
Reuters
Published Mar 25, 2024 07:28AM ET
Updated Mar 25, 2024 10:51AM ET
(Reuters) - BioNTech (NASDAQ:BNTX) said on Monday the U.S. National Institutes of Health has sent a notice to the German company regarding default on the payment of royalties and other amounts related to its COVID-19 vaccine.
BioNTech, which partnered with U.S. pharma giant Pfizer (NYSE:PFE) for its COVID-19 vaccine, however, said it disagreed with the positions being taken by the NIH and intends to defend against all allegations of breach.
Spokespersons for the U.S. NIH did not immediately respond to Reuters' request for a comment.
BioNTech has taken the license for certain patents from the NIH, among other entities, due to which the U.S. government is owed certain royalty payments, according to the German company's annual report.
The German government had granted BioNTech 375 million euros ($445 million) for its COVID‑19 vaccine development program in September 2020.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.