Bavarian Nordic improves IMVAMUNE manufacturing efficiency

Bavarian Nordic A/S announced its nine-month financial report for 2012 on Tuesday, citing improved efficiency of its smallpox vaccine as a reason for better financial results.

During the first nine months of 2012, Bavarian Nordic's infectious disease division improved its efficiency in manufacturing IMVAMUNE, a third-generation smallpox vaccine candidate being developed and supplied for the U.S. Strategic National Stockpile. The company anticipates it will deliver more than eight million doses to the stockpile, an increase over its previously expected 7.5 million doses.

The improved efficiency will also lower the company's production costs.

"We are very pleased to report a continued strong performance in our infectious disease division with the manufacturing and deliveries of IMVAMUNE smallpox vaccines for the U.S. Strategic National Stockpile again exceeding our targets," Anders Hedegaard, the president and CEO of Bavarian Nordic, said. "The division has further improved its profitability, contributing to an improved financial result for the group. The U.S. government's recent expansions of our smallpox vaccine contract coupled with additional new contract awards that broaden the scope of our technology into new disease areas strengthen our confidence in a sustained partnership with the U.S. government to address their requirements for biological countermeasures."

Bavarian Nordic delivered 2.6 million doses of IMVAMUNE to the stockpile during the third quarter. The U.S. government expanded its smallpox vaccine contract with the company by a further $5 million in September.

In 2013, the company anticipates a Phase III trial of IMVAMUNE, a new Phase II study for freeze-dried IMVAMUNE, marketing authorization application approval in Canada for IMVAMUNE and MAA approval in the European Union for IMVANEX.