Health
Bavarian Nordic Shares Surge Amid Rising Mpox Vaccine Orders and Strong Q2 Earnings
Danish biotech giant Bavarian Nordic saw its shares rise on Thursday following the announcement of increased European orders for its Mpox vaccine and a better-than-expected second-quarter earnings report. The company’s robust performance has prompted an upward revision in its 2024 financial guidance, with earnings now expected to hit the higher end of the projected range.
For the full year 2024, Bavarian Nordic anticipates earnings before interest, taxes, depreciation, and amortization (EBITDA) to reach approximately DKK 1,350 million (€180.91 million), while total revenue is projected to be around DKK 5,300 million (€710.38 million). The company’s strong financial outlook is largely attributed to its recent success in securing a 440,000-dose contract for smallpox and Mpox vaccines from an unnamed European country.
This surge in demand for Mpox vaccines across Europe likely stems from heightened efforts by various countries to enhance early preparedness in response to the global Mpox outbreak in 2022. Bavarian Nordic’s Mpox vaccine, JYNNEOS—also known as Imvamune and Imvanes—is one of only two Mpox vaccines approved by the U.S. Food and Drug Administration (FDA). It is also recommended by the World Health Organization’s (WHO) Strategic Advisory Group of Experts on Immunization (SAGE).
Paul Chaplin, President and CEO of Bavarian Nordic, expressed satisfaction with the company’s progress in the first half of 2024. “We are pleased to report strong developments for Bavarian Nordic during the first half of 2024. Unfortunately, Mpox is again making global headlines due to the record number of cases reported in Africa,” Chaplin said.
He also highlighted the company’s expanding partnership with the Africa Centres for Disease Control and Prevention (Africa CDC), focusing on vaccine supply and manufacturing within the continent. In response to the recent spike in Mpox cases, Bavarian Nordic plans to ramp up vaccine production to ensure equitable access, with the capacity to produce about 10 million doses by the end of next year and potentially deliver up to 2 million doses by the end of 2024.
The urgency surrounding Mpox vaccination has intensified following the WHO’s recent declaration of a new strain of Mpox as a public health emergency of international concern (PHEIC). This marks the first such declaration since May 2022, as the new strain has led to a rise in cases in countries previously unaffected by the virus, including Rwanda, Uganda, Burundi, and Kenya.
Professor Dimie Ogoina, speaking on behalf of the WHO, underscored the global significance of the current Mpox upsurge, particularly in Africa. WHO Regional Director for Africa, Dr. Matshidiso Moeti, emphasized ongoing efforts to combat the outbreak through coordinated international action, highlighting the importance of collaboration with communities and governments to bring the crisis under control.
As Bavarian Nordic continues to scale up its vaccine production, the company is poised to play a critical role in addressing the growing Mpox threat on a global scale.
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Second Round of Polio Vaccination Begins in Gaza Amid Conflict
A second round of polio vaccinations commenced in Gaza on Monday, aiming to inoculate over half a million children as part of emergency efforts to control an outbreak first detected in July. The highly contagious virus was found in sewage samples and led to the paralysis of a 10-month-old child, marking the first polio case in the region in 25 years.
The initial phase of the vaccination campaign occurred in early September, with approximately 95% of eligible children receiving the first dose of the oral polio vaccine. The current round will provide the crucial second dose, necessary to halt the transmission of the virus. According to the World Health Organization (WHO), at least two doses are required to stop the spread, and a minimum of 90% vaccination coverage is essential to protect the population.
In addition to the polio vaccine, children between the ages of two and nine will receive Vitamin A to enhance overall immunity, the WHO reported.
Dr. Hamid Jafari, Director of Polio Eradication for WHO’s Eastern Mediterranean region, explained that polio outbreak responses typically involve multiple rounds of immunization to interrupt transmission at the community level. The Global Polio Eradication Initiative (GPEI) helps determine the number and scope of campaigns needed based on risk assessments, with this particular campaign targeting children under 10 in Gaza.
Vaccination Amid War and Shortages
The ongoing vaccination effort takes place under the shadow of the Israel-Hamas war, which erupted on October 7, 2023, when Hamas launched an attack in southern Israel. Israel’s subsequent military response, including airstrikes and a ground operation, has led to widespread devastation in Gaza, with more than 42,000 Palestinians killed, according to the territory’s health ministry.
The war has severely strained Gaza’s healthcare system, which WHO described as “virtually depleted.” The first round of vaccinations faced major logistical hurdles due to damaged infrastructure, a lack of supplies, and significant population displacement.
Despite these challenges, the first phase was considered a success, with mobile teams, outreach posts, and health facilities ensuring broad coverage. For the second round, similar strategies are being employed, with additional efforts to raise public awareness, including radio broadcasts and digital messaging.
In recent months, 1.6 million doses of the polio vaccine have been delivered to Gaza, along with essential equipment like refrigerators, freezers, and vaccine carriers.
Catherine Russell, Executive Director of UNICEF, emphasized the importance of “humanitarian pauses” in the conflict to ensure the vaccination campaign can continue without interruption, stressing that “without them, it is impossible to vaccinate the children.”
Global Polio Eradication Efforts
Polio is primarily transmitted through contact with the feces of an infected individual, often through contaminated water or food. While many people experience mild or no symptoms, the virus can cause paralysis and, in severe cases, death.
The ongoing global fight against polio has successfully reduced cases of wild poliovirus to just two countries, Afghanistan and Pakistan. However, outbreaks of vaccine-derived strains still occur in areas with low immunization rates. These strains, linked to the live virus in the oral vaccine, can be controlled with two to three rounds of immunization.
The novel version of the oral polio vaccine used in Gaza includes improvements designed to reduce the likelihood of the virus mutating and causing disease in under-vaccinated communities. Dr. Jafari stressed the importance of continued global cooperation, noting that “until we stop transmission of all polioviruses, children everywhere remain at risk.”
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