The pharmaceutical industry refers to the sector of the economy that is involved in the discovery, development, production, and marketing of drugs and medications for medical use. This industry encompasses a wide range of activities, including research and development (R&D) of new pharmaceuticals, the manufacturing of drugs, the regulatory approval process, and the distribution and sale of medications. Companies within the pharmaceutical industry may vary in size from large multinational corporations to small biotechnology firms. The industry plays a crucial role in healthcare by providing essential treatments for various diseases and conditions, contributing to public health and improving the quality of life for patients. Innovations within this industry often lead to the development of new therapies, vaccines, and medical technologies. The pharmaceutical industry is also subject to strict regulations to ensure the safety and efficacy of the products it offers.
BioNTech's profits fell significantly due to declining pandemic revenues and increased investment in cancer treatments. Despite a drop in earnings, BioNTech's financial results surpassed market expectations for the fourth quarter…