As Countries Stockpile Monkeypox Vaccines, Bavarian Nordics & Siga Technologies Shares Boom

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Since monkeypox was declared a global emergency by the World Health Organization (WHO) and industrialized countries began stockpiling vaccines, Bavarian Nordic’s shares have more than tripled while Siga Technologies has seen the value of its stock double.

 

… we are pleased to assist more countries with supply of vaccines while we continue our dialogues with other governments to make vaccines available as fast as possible …

Bavarian Nordics CEO, Paul Chaplin

With the number of cases rising daily, developed nations are looking to prepare themselves for a large-scale outbreak and have been purchasing vaccines in large amounts while investors have been snapping up shares of the only companies with approved vaccines, Danish biotech Bavarian Nordic and US-based Siga Technologies.

The Danish company’s Jynneos, the only vaccine approved anywhere against both smallpox and monkeypox, has already been acquired in large quantities by a number of countries, including more than one order from US along with a USD 56 million deal with Canada. Bavarian Nordic said it had also secured a contract with Denmark as well as other undisclosed countries. As a result, not only have shares tripled, but the company’s revenue estimate for the year rose from DKK 1.4 billion to DKK 1.6 billion.

“The current monkeypox outbreak continues to call for a swift and coordinated response from health authorities, and we are pleased to assist more countries with supply of vaccines while we continue our dialogues with other governments to make vaccines available as fast as possible to mitigate the situation,” said Bavarian Nordics CEO, Paul Chaplin.

In a PharmaBoardroom interview, former CEO, Anders Hedegaard, spoke about the importance of government contracts: “When it comes to the smallpox business, there are no commercial customers, but only governments and their stockpiling strategies.”

 

… by increasing both the scale and scope of TPOXX stockpiling, countries can be better prepared for the outbreak risks of smallpox, monkeypox, and other viruses in the orthopoxvirus family of viruses …,”

SIGA CEO, Phil Gomez

Meanwhile, Siga Technologies, manufacturers of the oral smallpox antiviral, Tpoxx, approved for monkeypox in the EU and the UK, has seen its stock double ins value as the company secured approximately USD 28 million of procurement orders.

“SIGA continues to receive a large number of ongoing inquiries about accessing oral TPOXX. We believe … that by increasing both the scale and scope of TPOXX stockpiling, countries can be better prepared for the outbreak risks of smallpox, monkeypox, and other viruses in the orthopoxvirus family of viruses …,” “said Phil Gomez, CEO of SIGA.

Unlike COVID-19, monkeypox is harder to spread and for the time being it is circulating exclusively among gay and bisexual men, which has led many to argue for targeted use of available doses in lieu of mass vaccination campaigns. Others have claimed that developing nations will once again be forgotten in the fight against the disease as richer nations stockpile available vaccines.

Among the more than 22,000 monkeypox cases that have been reported in nearly 80 countries since May, 75 deaths are suspected in Africa, mostly in Nigeria and Congo, while, Brazil and Spain have reported the first deaths linked to monkeypox outside of Africa.


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