Bavarian Nordic gets 25 mln usd milestone payment from US govt |
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Published
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Thu, 29 Nov 2007 13:06
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COPENHAGEN (Thomson Financial) - Danish pharmaceutical company Bavarian Nordic AS said it has received a 25 mln usd milestone payment from the US government as it has fulfilled a number of objectives in its contract to deliver 20 mln doses of smallpox vaccine Imvamune.The income will be recognised as revenue in the financial statement for 2007, the company said, but added it does not change its previous financial guidance for the year.Bavarian Nordic has previously received an advance payment of 50 mln usd under the contract and expects to receive a further 25 mln usd milestone payment in 2007, which is in addition to the one announced today.'With the already received and future payments, we have created a solid financial base for our further development,' Bavarian Nordic chief executive Anders Hedegaard said.gustav.sandstrom@thomson.comgs/amCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Bavarian Nordic extends smallpox treatment contract with US government 