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Truist Financial Maintains BioNTech(BNTX.US) With Buy Rating, Maintains Target Price $172
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BioNTech Analyst Ratings
Truist Financial Initiates BioNTech(BNTX.US) With Buy Rating, Announces Target Price $172
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BioNTech reached a settlement payment of up to 1.26 billion dollars regarding the COVID-19 vaccine.
The German pharmaceutical company BioNTech (BNTX.US) announced that it has reached two separate settlement agreements regarding royalty payments related to its COVID-19 vaccine with the USA National Institutes of Health and the University of Pennsylvania, totaling $1.26 billion. In collaboration with the USA pharmaceutical company Pfizer (PFE.US) to develop the COVID-19 vaccine, BioNTech stated that it will pay the USA Institutions $0.79 billion to address a notice of default. The Institutions previously indicated that BioNTech had failed to pay the royalties owed for the licensing of its vaccine development patents. In addition, the company will pay approximately $0.47 billion to the University of Pennsylvania.