Bavarian Nordic acquires travel vaccine portfolio from Emergent BioSolutions

Bavarian Nordic A/S (OMX: BAVA) announced today that it has completed its acquisition of the travel vaccine portfolio from Emergent BioSolutions Inc. (NYSE: EBS) (“Emergent”).

With the closing of this transaction, Bavarian Nordic acquires two marketed vaccines – Vivotif for the prevention of typhoid fever and Vaxchora for the prevention of cholera as well as a Phase 3 vaccine candidate for the prevention of Chikungunya virus. The acquisition also includes US-based research and development facilities and a Swiss-based biologics manufacturing facility, and EU/US-based commercial operations with a specialty salesforce.

“With the closing of this transaction, we have taken a significant step forward on our path towards becoming one of the largest pure play vaccine companies,” said Paul Chaplin, President, and Chief Executive Officer of Bavarian Nordic. “The acquisition will reinforce our leading position in travel vaccines and expand our presence across key markets, in addition to providing opportunities for further growth. With the addition of facilities across both the US and Europe, we are strengthening our R&D and manufacturing capabilities and are pleased to welcome nearly 300 new employees to join us in our efforts to develop and deliver more life-saving vaccines around the world.”

Upon closing, Bavarian Nordic has made a cash payment to Emergent of USD 274 million, which includes estimated adjustments for net working capital, debt and other customary closing adjustments. The actual value of the estimated adjustments will be assessed post-closing and could lead to minor changes. In addition, Emergent is eligible to receive additional future payments of up to USD 110 million conditioned upon the achievement of milestones related to the successful development of the Chikungunya vaccine (USD 80 million) and sales performance of the marketed vaccines (USD 30 million).