Biotech company Bavarian Nordic quadruples turnover  

2003.08.27
Bavarian Nordic converts last year's H1 loss into a multi-million profit

Biotech company Bavarian Nordic, headquartered in Copenhagen, has published its H1 accounts which show a profit before interest and tax of DKK 59.7 million (USD 8.8 million) compared with a loss of DKK 45.7 million (USD 6.7 million) in the same period last year. Turnover more than quadrupled from DKK 121 million (USD 17.8 million) to DKK 500 million (USD 73.5 million). Sales of Bavarian Nordic’s smallpox vaccine to the US government strongly influenced the result. 5,000 doses of 3rd generation vaccine have been produced and released to USA two months earlier than planned.

 

Bavarian Nordic's MD Peter Wulff is happy about the earlier release of the smallpox vaccine which he considers will put the company in a good position to win the next development contract from the US government. Bavarian Nordic is maintaining its turnover expectations at DKK 500 million for the whole of 2003 and pre-tax profits of around DKK 250 million. The news is reported by daily financial newspaper Børsen online.

 

Link > Bavarian Nordic

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