BioNTech Announces Major Job Cuts and Production Site Closures Amid Financial Struggles

German biotechnology company BioNTech has announced plans to close its production sites in Idar-Oberstein and Marburg by the end of 2027, resulting in up to 1,860 job losses. This move comes as a response to the sharply reduced demand for COVID-19 vaccines, which Pfizer will now produce exclusively.

In addition to BioNTech's closures, CureVac, the mRNA company acquired by BioNTech for $1.25 billion in December 2025, is set to shut down its Tübingen location and other sites. The future of CureVac remains uncertain, with its works council expressing deep concerns about these decisions. They criticized the shutdowns as a breach of trust and highlighted the lack of employee involvement in the decision-making process. Many CureVac employees had hoped for a revitalization of stalled research projects since August 2025.

Financially, BioNTech reported a significant loss of €532 million in the first quarter of 2026, despite holding nearly €17 billion in liquid assets. The company aims to sell the closing sites, saving about half a billion euros annually. Following the announcement, BioNTech's stock declined by more than 5%.

These changes coincide with a strategic shift, as BioNTech's founders plan to step down and establish a new company focused solely on mRNA research, while BioNTech itself pivots toward cancer therapies.

The closures reflect the broader challenges in the biotech sector as pandemic-related vaccine demand wanes, pushing companies to restructure and rethink their innovation paths.