Mainz-based BioNTech said it made a net profit of €10.3 billion last year, up from €15 million in 2020, the first year of the pandemic.

The development of the vaccine, the first approved to counter the virus, had had a “momentous impact on human health and the global economy”, BioNTech CEO Ugur Sahin said in a statement.

The company delivered 2.6 billion doses of the vaccine based on mRNA technology in 2021, pulling in revenues of €19 billion in the process.

BioNTech projects vaccine revenues in 2022 to reach between €13 billion and €17 billion, and aims to pump up to €1.5 billion into research and development.

An Omicron-specific vaccine is currently in the works, while the pharmaceutical company also looks to develop treatments for malaria and tuberculosis among other diseases.

The rise of the small biotech company has had a measurable impact on the German economy, with economists estimating earlier this year that the company accounted for “around 0.5% of all economic activity” in 2021.

Its revenues also translated into a significant boost to the government’s own coffers, with BioNTech paying €4.8 billion in tax in 2021, according to the company.

BioNTech said it would launch a €1.5 billion share buy-back programme over the next two years and pay out a cash dividend of €2 per share.