Bavarian Nordic Shares Fall After Acambis Drug Gets Fast Track 2004-09-24 04:37 (New York)
Bavarian Nordic Shares Fall After Acambis Drug Gets Fast Track
By Christopher Elser Sept. 24 (Bloomberg) -- Shares of Bavarian Nordic A/S, which supplies the German and U.S. governments with smallpox vaccines, fell as much as 12 percent after rival Acambis Plc said U.S. regulators may speed review of its smallpox treatment. Shares of Bavarian fell 47 kroner, or 8.3 percent, to 519 kroner at 10:21 a.m. in Copenhagen after trading as low as 500 kroner. They've more than doubled this year. Acambis's Modified Vaccinia Ankara got so-called ''fast track'' status from the U.S. Food and Drug Administration, the Cambridge, England-based company said in a PRNewswire statement. Copenhagen-based Bavarian's Imvamune was put on the fast track in July. Bavarian and its partner, GlaxoSmithKline Plc, are competing against Acambis for contracts from anti-terror programs. ''They're just competing on an equal basis now,'' said Michael Novod, a Handelsbanken Capital analyst with a ''buy'' rating on Bavarian. ''The share drop is an over-reaction.'' Fast track status allows FDA regulators to expedite review of new treatments. Shares of Acambis, which is researching its vaccine with Baxter International Inc., rose 2.5 pence, or 0.8 percent, to 300 pence in 8:19 a.m. in London.
Grüße ecki |