BioNTech (NASDAQ:BNTX) is facing hundreds of lawsuits seeking compensation of up to ?1M over the alleged long-term side effects of its COVID-19 vaccine, the Financial Times reported.
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The lawsuits pertain to Comirnaty, the blockbuster COVID-19 vaccine developed by BioNTech (BNTX) and Pfizer (PFE).
The first hearing scheduled for Monday involves a German medical worker who is seeking ?150K (~$161.7K) in damages for symptoms including heart arrhythmia and brain fog that she claims were caused after getting vaccinated.
Bulk orders for COVID vaccines in the EU contain certain legal liability waivers, which could put EU governments on the hook for some of the costs, FT noted.
The lawsuits are being pursued by German law firms - Rogert & Ulbrich and Cäsar-Preller - both of which won damages for clients in the Volkswagen diesel emissions scandal.
In 2022, Comirnaty accounted for 58% of total COVID vaccine sales. Comirnaty generated $3.1B worldwide revenue during Q1, down ~77% Y/Y as contracted deliveries and demand in international markets fell. Pfizer (PFE) expects Comirnaty to generate $13.5B revenue for 2023.
BioNTech (BNTX) did not immediately respond to a request for comment.
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