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Bavarian Nordic might sign new vaccine contracts amid monkeypox spike

Bavarian Nordic might sign new vaccine contracts amid monkeypox spike

Bavarian Nordic, a biotechnology company, is planning to secure more contracts for its monkeypox vaccine after receiving overwhelming demand from the worldwide governments, according to its management.

The Danish firm, which manufactures the only monkeypox vaccine approved in the United States and Canada, has been the target of a global rush from governments seeking to improve their preparation against the virus.

Although various countries have managed to store vaccines to eliminate smallpox prevalence, the Bavarian Nordic CEO Paul Chaplin claimed that the recent spike in monkeypox cases has been a wake-up call for the non-endemic nations.

The CEO stated that countries with stockpiles are much more secure than those who did not pre-plan the cure of monkeypox disease.

For those unaware, monkeypox outbreak have been recorded from around 30 countries since May where monkeypox is not endemic, with over 911 suspected or confirmed cases have been detected, primarily in Europe.

It's evident that many of these countries are concerned about availability in the short term, shared the Chief Financial Officer Henrik Juuel. However, they're also talking to governments about increasing their long-term preparation.

Bavarian Nordic has also announced multiple arrangements for the sale of its Imvanex vaccine with undisclosed countries in recent weeks, prompting two increases to its financial outlook for this year.

In the United States and Canada, the company’s smallpox vaccine is licensed for monkeypox. Doctors can prescribe medication off-label in the European Union, but the company is reportedly negotiating with the bloc's drug authority to expand the approval to include monkeypox as well.

Both the United Kingdom and Germany have stated that they have placed orders for Bavarian's vaccine. Meanwhile, Bavarian recently revealed to have signed a five-year contract with the Canadian government for the provision of its monkeypox vaccine for roughly USD 56 million.

Source Credits: https://news.yahoo.com/bavarian-nordic-expects-sign-more-135456963.html

About the author

Anjali Mishra

Anjali Mishra

A postgraduate in Criminal Law, Anjali Mishra uses her analytical skills to understand and write about all things market. Anjali holds a keen interest in writing insightful articles on healthcare, business, finance, and emerging technologies for AlpenHornNews and numerous other portals. Coming from outside the economical milieu, Anjali aims to write in a way that helps readers with non-technical knowledge understand technical concepts with ease.