Bavarian Nordic and GlaxoSmithKline Enter into Global Collaboration on IMVAMUNE(TM)
Bavarian Nordic A/S and GlaxoSmithKline (GSK) have entered into an international collaboration on the production and marketing of Bavarian Nordic's smallpox vaccine IMVAMUNE(TM), which is based on Bavarian Nordic's proprietary MVA-BN® technology.
Under the contract, Bavarian Nordic will transfer its technology on production and use of IMVAMUNE(TM) to GSK. GSK will then manufacture and market the IMVAMUNE(TM) smallpox vaccine to most international markets, including North and South America, Japan as well as a number of important EU-markets, including Great Britain and France.
Bavarian Nordic will continue to manufacture and market IMVAMUNE(TM) to all German-speaking countries, the Nordic countries, the Baltic States, China, the Middle East and South East Asia. Bavarian Nordic will be responsible for development and production of IMVAMUNE(TM) to the U.S. government under the National Institutes of Health (NIH) RFP-programme.
Bavarian Nordic and GSK will closely collaborate and act as commercial partners on future U.S. government programmes, including the NIH's forthcoming RFP3, which is expected to include an order for supply of up to 60 million doses of smallpox vaccine.
Peter Wulff, President and CEO of Bavarian Nordic, said," The agreement with GSK opens up global business opportunities for Bavarian Nordic. With Bavarian Nordic's growing production capacity and GSK's capacity and global presence, we can ensure that sufficient supply of IMVAMUNE(TM) is available to meet increasing international demand for a modern, safe smallpox vaccine to the important U.S. market, major overseas markets and growing EU and Far East markets."
The agreement will not impact the company's financial projections for 2004 of revenues of DKK 400 million and earnings before tax of DKK 60-80 million.
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