New Delhi, December 4: Ugur Sahin, the co-founder of German biotech firm, BioNTech entered the Bloomberg Billionaire Index on Thursday, a day after the UK government approved the usage of COVID-19 vaccine developed by his BioNTech in collaboration with US's Pfizer Inc. Sahin is now the world's 493rd-richest person with a net worth of $5.1 Billion. The share price of BioNTech soared almost 8 per cent this week, which led to his entry in the index of 500 richest persons on the planet. After UK Approves Pfizer-BioNTech COVID-19 Vaccine, Here Are Other Vaccine Candidates Awaiting Approval in These Countries
BioNTech has witnessed a spike of 250 per cent in its share price ever since it announced its partnership with the US pharmaceutical company to develop COVID-19 Vaccine. Sahin, a Turkish born scientist is the only shareholder of a German firm that controls an 18 per cent stake in BioNTech. It raised around $150 Million from its US initial public offering last year, filings show. Pfizer-BioNtech COVID-19 Vaccine Approved by UK for Rollout, to be Made Available Across The Country From Next Week.
According to the reports, it was Sahin and his wife Ozlem Tureci who is also the Chief Medical Officer at BioNTech, who directed the company to undertake the programme to develop COVID-19 vaccine in January 2020. "It could open the pharmaceutical field for a new class of molecules," he had said earlier. The firm as initially focused on studies and researches related to fighting cancer.
The UK on Wednesday, gave green signal to the COVID-19 Vaccine developed by Pfizer-BioNTech for usage. The country rolls out its mass vaccination progarmme next week. The company is however, still waiting on a decision from the U.S. Food and Drug Administration and other European Union regulators. The vaccine has showed 95 per cent effectiveness.
(The above story first appeared on LatestLY on Dec 04, 2020 03:53 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).