BioNTech to close three German sites, 1,800 jobs at risk

BioNTech announced closure of its sites in Idar-Oberstein, Marburg, and Tübingen after failing to find a buyer, putting 1,800 jobs at risk. The move reflects declining demand for its COVID-19 vaccine and lack of new product launches, signaling a strategic contraction. This is a notable corporate restructuring in the pharmaceutical sector, with implications for regional employment and Germany's biotech landscape.