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Pfizer (NYSE:PFE) is reportedly offloading its remaining stake in Covid-19 vaccine partner BioNTech SE (NASDAQ:BNTX).
It seeks an overnight block trade of about 4.55 million American depositary receipts, priced between $108 and $111.70 apiece, according to a Bloomberg report. The sale could fetch roughly $508 million at the top end.
Pfizer and BioNTech co-developed Comirnaty, the COVID-19 vaccine that generated billions in global sales and government contracts during the pandemic.
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Pfizer's equity stake in BioNTech stemmed from that partnership, and the companies continue to collaborate on updated vaccine formulations based on BioNTech's mRNA technology, Bloomberg reported.
BioNTech reported sales of $1.78 billion (1.52 billion euros), compared to 1.24 billion euros a year ago, beating the consensus of $1.19 billion.
The increase was primarily driven by revenues related to BioNTech's collaboration with Bristol-Myers Squibb Co. (NYSE:BMY), which was recognized in the third quarter of 2025, partially offset by lower sales volumes of BioNTech's COVID-19 vaccines.
Pfizer's third-quarter sales fell 6% year over year to $16.65 billion, beating the consensus of $16.59 billion. The revenue reflected an operational decline of 7%.
The operational decrease was primarily driven by a year-over-year decline in COVID-19 product revenues, mainly due to lower infection rates.
It impacted Paxlovid demand, as well as a narrower vaccine recommendation for COVID-19 in the U.S. that reduced the eligible population for Comirnaty.
Earlier this week, Pfizer secured a $10 billion deal to acquire obesity drug developer Metsera, Inc. (NASDAQ:MTSR), beating out Novo Nordisk A/S (NYSE:NVO) after a heated bidding war.
Price Action: Pfizer shares were up 1.29% at $26.20 and BioNTech shares were down 6.37% at $104.59 at the time of publication on Thursday, according to Benzinga Pro data.
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