Biontech Shares Drop Amid Pfizer’s Vaccine Write-Offs, Establishment Labs Gains on FDA Clearance

In the healthcare sector, several significant events unfolded on Monday. Shares of BioNTech (NASDAQ:) fell by more than 6% following the company’s announcement of a projected Q3 negative impact of up to 900 million euros ($947.5 million). This downturn is linked to Pfizer (NYSE:)’s write-offs and charges related to the Comirnaty COVID-19 vaccine.

Meanwhile, Henry Schein ‘s (NASDAQ:) stock decreased by over 2% due to a cybersecurity incident affecting its manufacturing and distribution units. The company is currently working to mitigate the situation and restore normal operations.

On a positive note, Establishment Labs Holdings’ (NASDAQ:) shares rose above 4% after receiving FDA clearance for its Motiva Flora SmoothSilk tissue expander. This approval marks a significant milestone for the company in expanding its product portfolio.

In the broader market, the Health Care Select Sector SPDR Fund (NYSEARCA:XLV) advanced by 0.5% during pre-bell Monday, while the iShares Biotechnology ETF (NASDAQ:IBB) remained inactive. This movement indicates a mixed performance within the healthcare sector, with individual companies experiencing varied fortunes based on their recent developments.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.