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Bavarian Nordic storms ahead with half-year results

TheCopenhagenPost
August 25th, 2015


This article is more than 9 years old.

Biotech behemoth delivers encouraging numbers to investors

The biotech company Bavarian Nordic, which specialises in cancer immunotherapies and vaccines for infectious diseases, has reported a positive set of half-year results, marking a distinct change in fortune from the first six months of 2014.

Turnover was 624 million kroner, up from 450 million kroner in the first half of 2014, resulting in a pre-tax profit of 85 million kroner, whereas the company made a loss of 70 million kroner in the first two quarters of 2014.

Significant events
Paul Chaplin, the CEO of Bavarian Nordic, cited a number of significant events in the period that contributed to the result.

“The second quarter has seen a number of successes,” he said. He explained that this includes progress in the development of the company’s prostate cancer treatment.

“As we continue to work towards final data in the Prospect study, our partners at the NCI (National Cancer Institute) have continued to investigate Prostvac in the potential treatment landscape for men with prostate cancer, both with the initiation of a new, large phase 2 study of men with an early-stage diagnosis, as well as the full recruitment of a study of Prostvac in combination with enzalutamide.”

There were also positive developments relating to Bavarian Nordic’s smallpox vaccine – most significantly a mammoth order from the US health authorities to stockpile doses.

“We have secured US government contracts of almost 150 million US dollars for Imvamune and filovirus vaccine, with the Imvamune order initiating the move towards a freeze-dried formulation and the replacement of the 20 million-dose stockpile,” Chaplin said.

However, despite the advances, the company retains its 2015 forecast of 1 billion kroner in turnover and a break-even result before tax.


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Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

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At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”