March 11, 2015 / 8:25 AM / 5 years ago

Bavarian Nordic gets first profit from sales to U.S. vaccine stockpile

COPENHAGEN, March 11 (Reuters) - Danish biotech company Bavarian Nordic said smallpox vaccine sales to the United States for its stockpile programme has led to its first full-year profit in five years, and added that it expects its Ebola vaccine to generate revenue this year.

Bavarian posted a full-year net profit of 25.9 million Danish crowns ($3.72 million) after four years of losses.

Operating profit fell to 17 million Danish crowns from 33 million the year before.

Bavarian Nordic develops and manufactures cancer immunotherapies and vaccines for infectious deceases, including a patented product used in smallpox vaccines, sold as Imvamune in the U.S. and Imvanex in Europa.

The company said it expects 2015 revenue at the level of 1 billion crowns from stockpile sales, Ebola vaccine development and a contract for a freeze-dried version of Imvamune.

“In 2015 we will produce and deliver approximately 2 million doses of our Ebola vaccine that with our partner Janssen, is planned to enter efficacy trials later this year,” Chief Executive Paul Chaplin said in the statement.

Bavarian struck a prostate cancer drug deal with U.S. company Bristol-Myers Squibb on March 4, sending its shares up 35 percent on the day, and 16 percent higher on the next day. ($1 = 6.9717 Danish crowns) (Reporting by Annabella Pultz Nielsen, editing by Louise Heavens)

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