Bavarian Nordic shines in Copenhagen, European order for monkeypox vaccine
The company won a 440,000-dose contract to supply its serum to an Old World country, whose name was not disclosed
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(Il Sole 24 Ore Radiocor) - Bavarian Nordic shot up strongly again on the Copenhagen Stock Exchange, thanks to its monkeypox vaccine. In five sessions the biopharmaceutical company's share price has risen more than 40% and is up 54% since the beginning of the year. Bavarian Nordic announced yesterday evening that it had been awarded a contract for 440,000 doses to supply its smallpox/mpox vaccine to a European country, the name of which was not disclosed. All vaccines under the contract will be delivered in 2024, bringing the total value of the guaranteed contracts in the Public Prevention sector to approximately DKK 3 billion, which is the upper limit of the revenue forecast for this sector in 2024, the company points out. Therefore, Bavarian Nordic is able to confirm the new guidance for the year at the upper end of the range, with anaggregate revenue of approximately DKK 5.3 billion and Ebitda of approximately DKK 1.35 billion. The total revenues are derived about 3 billion from Public Prevention, about 2.1 billion from Travel Health and about 200 million from contract work.
"Since the last monkeypox outbreak in 2022/23, Bavarian Nordic has established a strong strategic partnership with a number of authorities who have recognised the need to improve their preparedness against smallpox and mpox. It is important to emphasise that the latest order was planned within our guidelines for this year and, as such, will have no impact on the remaining capacity available to support governments and organisations to address the current public health emergency of international concern declared by the WHO for mpox. Bavarian Nordic can still supply up to 10 million doses of our smallpox and mpox vaccine by the end of next year, with 2 million doses of this capacity available during the remainder of this year," said Paul Chaplin, president and CEO of Bavarian Nordic.
The company also announced its half-year accounts, which closed with revenues of 2.25 billion kroner, down from 3.2 billion in the first half of 2023, and an Ebitda of 441 million from 1.17 billion. Revenues were affected by a 53% drop in the Public Prevention segment, which the company described as in line with expectations.
