The pharmaceutical industry refers to the sector of the economy that focuses on the research, development, production, and marketing of medications and drugs. This industry encompasses a range of activities, including the discovery of new compounds, clinical trials to test safety and efficacy, regulatory approval processes, and the manufacturing and distribution of pharmaceutical products. Companies in this industry may produce prescription medications, over-the-counter drugs, vaccines, and biotechnology products. The pharmaceutical industry is essential for improving public health by providing treatments for various medical conditions, conducting scientific research, and advancing medical technologies. It operates within a regulatory framework to ensure the safety and effectiveness of medicines for consumers.
BioNTech is shifting focus from COVID-19 vaccines to developing mRNA-based cancer therapies, aiming for market approval by 2026. The company reported a fourth-quarter earnings of €1.08 per share and revenue…