Bavarian Nordic, subject of a takeover offer valuing the vaccine maker at about 19 billion Danish crowns ($3 billion), reported a higher than expected revenue for the second quarter on Friday, citing a strong performance in both its travel health and public preparedness businesses.<\/p>\n
WHY IT MATTERS
\nA consortium led by Nordic Capital and Permira said in July it would launch a bid priced at 233 crowns per Bavarian Nordic share, which the Danish group’s board is recommending to its stakeholders.<\/p>\n
The vaccine maker’s main shareholder, Danish pension fund ATP, has said it has no intention of accepting the offer. ATP holds a 10% stake in Bavarian according to LSEG data.<\/p>\n
KEY QUOTE
\n“If there are other interested parties, they know where we are,” CEO Paul Chaplin said in an interview. “We’re not actively seeking additional offers, but it is now a public transaction.”<\/p>\n
CONTEXT
\nBavarian Nordic is a key vaccine supplier to governments globally, including public health preparedness programmes in the United States, where Health Secretary Robert F. Kennedy Jr. has been making sweeping changes to vaccine policies.<\/p>\n
Chaplin had said in November that Bavarian was not concerned about the vaccine scepticism Donald Trump’s presidency and Kennedy’s appointment would bring into the U.S. health policies, a sentiment he reiterated on Friday.<\/p>\n
“We seem to be isolated from a lot of the vaccine scepticism discussions,” he said.<\/p>\n
BY THE NUMBERS
\nBavarian reported quarterly revenue of 1.65 billion Danish crowns, exceeding a company-compiled consensus of 1.46 billion, based on estimates from three analysts.<\/p>\n
It now expects full-year revenue of 6.0 billion to 6.6 billion crowns, compared to the previous range of 5.7-6.7 billion, citing the strong travel health business and further clarity on the public preparedness business.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bavarian Nordic, subject of a takeover offer valuing the vaccine maker at about 19 billion Danish crowns ($3 billion), reported a higher than expected revenue for the second quarter on Friday, citing a strong performance in both its travel health and public preparedness businesses. WHY IT MATTERS A consortium led by Nordic Capital and Permira […]<\/p>\n","protected":false},"author":2,"featured_media":1566,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[396,395],"class_list":{"0":"post-1565","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-sitefansalaran-industry-news","8":"tag-as-launch-of-takeover-bid-nears","9":"tag-bavarian-nordic-beats-revenue-expectations"},"yoast_head":"\n