BioNTech and Pfizer secured a legal victory at the Unified Patent Court (UPC) in Munich. The court dismissed an infringement claim brought by Promosome regarding the Comirnaty COVID-19 mRNA vaccine. Promosome had alleged the vaccine infringed on a patent for enhancing protein production.
The court also ruled Promosome's patent invalid due to a lack of novelty. This decision protects BioNTech’s foundational mRNA technology and mitigates potential financial liabilities.
Separately, Morgan Stanley lowered its price target for BioNTech to $119 from $126. The firm maintained an Overweight rating on the shares. Analysts noted that lower interest rates may benefit the broader biotech sector.