BioNTech Changes Its Business

May 5, 2026, 13:40
AsiaFinance

Introduction

BioNTech is closing some factories and cutting jobs to save money.

Main Body

The company will close factories in Germany and Singapore by 2027. They have too many buildings and do not use them. Because of this, 1,860 people will lose their jobs. BioNTech made less money in 2026. People bought fewer COVID-19 vaccines. The company spent a lot of money on cancer research and lost 531.9 million euros. By 2029, the company wants to save 500 million euros every year. They will use this money to find new medicines for cancer. In March, the two founders left the company. They want to start a new business. This news made the owners of the company worried.

Conclusion

BioNTech is becoming smaller to save money and study cancer.

Learning

The 'Reason' Pattern

In English, we often explain why something happens. Look at these two ways to do it from the text:

1. The 'Because of' Shortcut Use this when you have a thing (a noun), not a full sentence.

  • Example: "Because of this, 1,860 people will lose their jobs."
  • (This = the closing of factories)

2. The 'To' Purpose Use this when you explain the goal of an action.

  • Example: "...cutting jobs to save money."
  • Example: "...to find new medicines."

Word Power: Money & Change

WordSimple MeaningExample from Text
CutTo make smaller →\rightarrow "cutting jobs"
SaveTo keep money →\rightarrow "save 500 million"
LoseTo no longer have →\rightarrow "lose their jobs"

Quick Tip: Time Phrases

When you see "By [Year]", it means "at that time or even before."

  • By 2027 →\rightarrow The factories will be closed before or during 2027.
  • By 2029 →\rightarrow The saving goal happens before or during 2029.

Vocabulary Learning

company
a business organization
Example:The company sells phones.
money
currency used to buy goods
Example:I need more money for the trip.
jobs
paid work positions
Example:She has many jobs at the office.
save
to keep for later use
Example:I will save money for a new bike.
buildings
structures with walls and a roof
Example:The buildings are tall.
lose
to no longer have something
Example:I will lose my keys if I forget them.
new
not old, recent
Example:I bought a new book.
medicine
a substance that helps cure illness
Example:She took medicine for her cold.
research
investigation to find facts
Example:Scientists do research on viruses.
study
to learn about a subject
Example:I will study history tonight.
business
an organization that sells goods or services
Example:He started a small business.
owners
people who own something
Example:The owners of the shop are friendly.
worried
feeling anxious or concerned
Example:She was worried about the exam.
smaller
having less size
Example:The new house is smaller.
find
to discover or locate
Example:I can find the answer in the book.
cancer
a disease where cells grow out of control
Example:Doctors study cancer to find cures.
closing
shutting something down
Example:The shop is closing at 6 pm.
factories
places where goods are made
Example:Factories produce cars.
cutting
reducing or removing
Example:We are cutting the budget.
vaccines
substances that protect against disease
Example:Vaccines help prevent illness.
lost
no longer having something
Example:He lost his wallet.
million
a large number, one thousand thousand
Example:She earned a million dollars.
use
to employ or utilize
Example:Use the phone to call.
people
human beings
Example:People love music.
fewer
less in number
Example:There are fewer cars on the road.
bought
purchased
Example:I bought a new shirt.
founders
people who start a company
Example:The founders of the startup are successful.
left
departed
Example:He left the room.
start
begin
Example:They will start the project tomorrow.
news
information about recent events
Example:The news is interesting.
becoming
to start to be
Example:He is becoming tired.