German pharmaceutical company Biontech will close its facilities in Tübingen, Marburg and Idar-Oberstein after failing to find buyers. Around 1,800 employees are affected, Bild reports.
According to the company, the attempts to sell the facilities have been hampered by market and investment conditions. The facility in Tübingen will be closed at the end of 2027, Marburg at the beginning of 2028 and Idar-Oberstein at the end of 2028. Additional severance pay has been agreed, but the amount has not been disclosed.
The closures are part of Biontech’s shift towards cancer drugs. In the first half of the year, the company reported a loss of EUR 1.35 billion, compared with EUR 802.4 million the previous year.
