The pharmaceutical industry refers to the sector of the economy that is involved in the research, development, production, and marketing of medications and pharmaceutical products. This industry plays a crucial role in healthcare by providing drugs that prevent, treat, and cure diseases and medical conditions. It encompasses a wide range of organizations, including large pharmaceutical companies, biotechnology firms, and smaller research and development entities. The industry engages in extensive scientific research and clinical trials to ensure the safety and efficacy of its products before they reach the market. Additionally, the pharmaceutical industry is subject to stringent regulatory oversight by government agencies to ensure compliance with health standards and to protect public safety. Overall, the pharmaceutical industry significantly impacts public health, economic growth, and the advancement of medical science.
BioNTech is transitioning from COVID-19 vaccines to innovative cancer therapies using mRNA technology, aiming for market launch by 2026. Revenue dropped from €3.8 billion in 2023 to €2.75 billion in…