Bavarian Nordic posts solid 2003 results  

The Danish biopharmaceutical company reports a turnover of DKK 505 million and pre-tax profits of DKK 217 million

Biopharmaceutical company Bavarian Nordic has published its annual accounts showing a turnover of DKK 505 million (USD 81 million) and pre-tax profits of DKK 217 million (USD 35 million). The earnings were primarily due to contracts being signed with several governments on development and delivery of smallpox vaccines. In February, Bavarian Nordic tendered an offer to the US government for supplying 3 million doses of smallpox vaccine. Bavarian Nordic expects the US government to make a decision this summer.


The Copenhagen based company has reduced its earnings expectations in 2004 to DKK 400 million (USD 64 million) and profits before tax of approx. DKK 80 million (USD 12.8 million). According to Bavarian Nordic the reduction in profits compared to 2003 is due to greater focus on the development of a HIV and smallpox vaccine. The news is reported by BiotechDenmark online.


Link > Bavarian Nordic 

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