Bavarian Nordic Receives USD 156.8 Million from the U.S. Government for Additional Smallpox/Mpox Vaccine Production

• The contract will help replenish inventory of bulk vaccine required for future manufacturing and supply of freeze-dried vaccines.

COPENHAGEN, Denmark, August 8, 2024 – Bavarian Nordic A/S (OMX: BAVA) today announced that it has received a new order valued at USD 156.8 million from the Biomedical Advanced Research and Development Authority (BARDA), part of the Administration for Strategic Preparedness and Response within the U.S. Department of Health and Human Services, to manufacture additional bulk product for JYNNEOS, the company’s smallpox/mpox vaccine.

The bulk product, representing USD 139.7 million of the contract value, will be manufactured and invoiced in 2024 and will partly replenish the inventory used to manufacture vaccines in response to the mpox outbreak in 2022. Replenishment of the bulk inventory is necessary to fulfil the company’s existing contract to supply a next-generation, freeze-dried version of the vaccine for U.S. smallpox preparedness.

The contract also includes approximately USD 17 million for additional services in the period 2025-2027, including storage of vaccine doses in the U.S.

“Our smallpox/mpox vaccine represents a key component in the U.S. biological preparedness, as demonstrated during the 2022 mpox outbreak. JYNNEOS was also the first smallpox vaccine successfully developed under Project BioShield, a program created by the U.S. Congress in 2004 to accelerate the research, development, procurement, and availability of medical countermeasures against biological, chemical, radiological, and nuclear (CBRN) agents through public-private partnerships. We applaud the U.S. government’s steadfast commitment to maintaining a robust preparedness and are proud to continue providing vaccines to protect its citizens against current and future public health threats,” said Paul Chaplin, President & CEO of Bavarian Nordic.

While the contract will not impact the company’s overall financial guidance for 2024, the order will increase the value of secured contracts in the Public Preparedness business this year from approximately DKK 1,600 million to approximately DKK 2,500 million. A total of DKK 2,700–3,000 million is expected from this business in 2024 with the residual primarily driven by a few additional government contracts anticipated later this year.