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MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  Bavarian Nordic A/S    BAVA   DK0015998017

BAVARIAN NORDIC A/S

(BAVA)
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GSK to sell two vaccines in $1.1 billion deal to focus on newer treatments

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10/21/2019 | 04:15am EST
FILE PHOTO: The GSK logo is seen on top of GSK Asia House in Singapore

(Reuters) - GlaxoSmithKline will sell two travel vaccines to Bavarian Nordic for up to 955 million euros ($1.1 billion), the British firm said on Monday, as it looks to bolster its push into the lucrative cancer drug market.

The sale of anti-rabies treatment Rabipur and Encepur, used for the prevention of tick-borne encephalitis, to the Denmark-based biotechnology firm includes an upfront payment of 301 million euros and milestone payments of up to 495 million euros.

Chief Executive Officer Emma Walmsley has been pushing for a leaner structure since she took over in 2017 by spinning off or selling units to focus on reinvigorating GSK's pharmaceuticals business. It staged a comeback into cancer treatments with a $5.1 billion buyout of U.S. drugmaker Tesaro in December last year.

"This agreement with Bavarian Nordic will enable us to commit greater resources to our key growth assets and to our R&D pipeline," Roger Connor, president of Global Vaccines at GSK said.

GSK, which is preparing to separate its consumer-facing products and drugs businesses, acquired the vaccines from Novartis in 2015 as part of a broad asset-swap https://www.reuters.com/article/us-gsk-novartis-oncology/novartis-ag-wins-approval-to-buy-gsk-cancer-drugs-with-conditions-idUSKBN0LR1JT20150223 in which GSK sold its oncology business to the Swiss drugmaker.

The drugmaker reported revenue of 5.89 billion pounds ($7.61 billion) from its vaccines segment in 2018.

London-listed GSK said that both vaccines will continue to be manufactured at its Marburg site in Germany until full production is transferred to Bavarian Nordic within five years.

($1 = 0.8966 euros)

($1 = 0.7738 pounds)

(Reporting by Aakash Jagadeesh Babu and Pushkala Aripaka in Bengaluru; Editing by Arun Koyyur)

Stocks mentioned in the article
ChangeLast1st jan.
BAVARIAN NORDIC A/S 0.71% 163.25 Delayed Quote.27.19%
GLAXOSMITHKLINE 0.40% 1738.2748 Delayed Quote.16.08%
NOVARTIS -0.17% 88.67 Delayed Quote.19.53%
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Financials (DKK)
Sales 2019 605 M
EBIT 2019 -343 M
Net income 2019 -343 M
Debt 2019 60,5 M
Yield 2019 -
P/E ratio 2019 -14,5x
P/E ratio 2020 -87,5x
EV / Sales2019 8,33x
EV / Sales2020 3,65x
Capitalization 4 979 M
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Mean consensus BUY
Number of Analysts 5
Average target price 280,00  DKK
Last Close Price 154,05  DKK
Spread / Highest target 134%
Spread / Average Target 81,8%
Spread / Lowest Target 49,3%
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Managers
NameTitle
Paul Chaplin President & Chief Executive Officer
Gerardus Wilhelmus van Odijk Chairman
Henrik Birk Chief Operating Officer & Executive Vice President
Henrik Neilsen Juuel Chief Financial Officer & Executive Vice President
Anders Gersel Pedersen Deputy Chairman
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BAVARIAN NORDIC A/S27.19%738
JOHNSON & JOHNSON2.27%344 670
ROCHE HOLDING AG22.47%254 722
MERCK AND COMPANY10.09%211 953
PFIZER-15.30%208 023
NOVARTIS19.53%198 320