BioNTech's Next Act Has Nothing to Do With COVID. Here's the $500 Billion Market Some Investors Are Ignoring
Could it become as successful in this niche as it was in the coronavirus vaccine market?
Overview
BioNTech (NASDAQ: BNTX) rose to prominence several years ago thanks to its role in the coronavirus market. The company developed Comirnaty, one of the best-selling COVID-19 vaccines, with Pfizer (NYSE: PFE). However, vaccination rates have dropped significantly due to a combination of factors, including stricter market regulations. As a result, BioNTech's coronavirus business hasn't performed well recently. The good news is that the company's future no longer depends on its work in this industry. There is another much larger area BioNTech is targeting. Here's what investors need to know.
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The weight-loss market is grabbing headlines for its rapid growth. But the largest area in the industry by annual sales remains oncology. There are several reasons for that. Let's consider four of them. First, cancer is one of the world's leading causes of death. According to some estimates, in the U.S., one person in three will be diagnosed with cancer at some point in their lives. So, it is a fairly common disease with a significant annual death toll. Second, the oncology market is massive. There are dozens of types of cancer, and some corners of the industry remain underserved, which can attract even more drugmakers.
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Originally published at www.fool.com.