Bavarian Nordic Secures Contract for Smallpox and Mpox Vaccines
Bavarian Nordic A/S (OMX: BAVA) has announced that it has been awarded a contract for 440,000 doses of its MVA-BN smallpox/mpox vaccine for an undisclosed European country. This order was expected as part of the company's guidance for 2024 and will not affect its remaining production capacity for these vaccines in 2024/25.
CEO Comments on Strategic Collaborations
Paul Chaplin, President & CEO of Bavarian Nordic, remarked that following the recent mpox outbreak, the company has established strategic partnerships with various authorities that recognize the need to bolster preparedness against smallpox and mpox. This latest order is in line with their initial guidance and enables Bavarian Nordic to sustain its capacity to deliver up to 10 million doses of its smallpox and mpox vaccine by the end of next year, with 2 million doses ready this year.
Delivery Timeline and Financial Implications
All vaccines covered by this contract are scheduled for delivery in 2024. This agreement increases the total value of secured contracts in the Public Preparedness sector to nearly DKK 3,000 million, affirming Bavarian Nordic's updated guidance at the higher end of its revenue expectations for 2024. The anticipated total revenue is around DKK 5,300 million, with an EBITDA of approximately DKK 1,350 million. This revenue includes DKK 3,000 million from Public Preparedness, DKK 2,100 million from Travel Health, and DKK 200 million from contract work.
Overview of the MVA-BN Vaccine
MVA-BN (Modified Vaccinia Ankara-Bavarian Nordic), marketed under the names JYNNEOS, IMVANEX, and IMVAMUNE, is a non-replicating vaccine for smallpox and mpox. It has received approval from various global health authorities and has been granted emergency use authorization in several regions due to the mpox outbreak. Initially developed in collaboration with the U.S. government, the vaccine guarantees availability for the entire population, including those who cannot receive conventional vaccines.
About Bavarian Nordic
Bavarian Nordic is a fully integrated vaccine company committed to saving lives through innovative vaccination solutions. As a global leader in smallpox and mpox vaccines, the company plays a vital role in supporting governments to improve public health preparedness while maintaining a robust portfolio for travelers and endemic diseases.
Contact Details
For further inquiries, please reach out to:
Europe: Rolf Sass Sørensen, VP Investor Relations, rss@bavarian-nordic.com, Tel: +45 61 77 47 43
US: Graham Morrell, Paddock Circle Advisors, graham@paddockcircle.com, Tel: +1 781 686 9600
Frequently Asked Questions
What is the recent contract Bavarian Nordic announced?
Bavarian Nordic announced a contract for 440,000 doses of their smallpox/mpox vaccine to an undisclosed European country.
How will this contract impact Bavarian Nordic's production capacity?
The contract will not impact the company's remaining production capacity for 2024/25, allowing them to continue to support governments.
What is the total estimated revenue for Bavarian Nordic in 2024?
The estimated total revenue for Bavarian Nordic in 2024 is approximately DKK 5,300 million.
What are the brand names under which MVA-BN is marketed?
MVA-BN is marketed under the brand names JYNNEOS, IMVANEX, and IMVAMUNE.
Who can receive the MVA-BN vaccine?
The vaccine is suitable for the entire population, including immunocompromised individuals who are advised against traditional smallpox vaccines.
