Vaccine Makers See Stock Prices Soar
As the World Health Organization (WHO) declared the rapidly spreading Mpox outbreak in Africa a public health emergency, the share prices of several healthcare and pharmaceutical companies surged on Friday. The anticipation of increased demand for Mpox vaccines has driven this spike, with companies like Bavarian Nordic, a Danish vaccine manufacturer, seeing significant gains.
Bavarian Nordic Leads the Charge
Bavarian Nordic, the maker of the JYNNEOS Mpox vaccine, experienced a remarkable 17.6% increase in its stock price. JYNNEOS, also known as Imvanes or IMvamune, is one of only two Mpox vaccines approved by the U.S. Food and Drug Administration (FDA) and is recommended by the WHO’s Strategic Advisory Group of Experts on Immunisation (SAGE). The company recently announced it has 300,000 doses ready for shipment and can produce up to 10 million doses by the end of next year, further fueling investor confidence.
Global Pharma Companies Benefit
The surge in demand for Mpox-related products also boosted shares of other companies. Chinese virus detection kit manufacturer Shanghai ZJ Bio-Tech saw its stock rise by 7.91%, while Japanese medical tools supplier Precision System Science enjoyed a 5.28% increase. Even companies without direct ties to Mpox, like AstraZeneca and Novo Nordisk, experienced modest gains, reflecting broader investor interest in healthcare stocks amidst growing public health concerns.
WHO Urges Global Action
In response to the outbreak, WHO officials emphasized the urgent need for coordinated global action. Professor Dimie Ogoina highlighted the severe implications of the new, sexually transmissible Mpox strain, warning that the current situation could lead to a repeat of the global outbreak seen in 2022. WHO’s Regional Director for Africa, Dr. Matshidiso Moeti, assured that efforts are already underway to curb the virus’s spread, with international collaboration being scaled up to support affected countries.
The Growing Threat of Mpox
Mpox, originally discovered in 1958 and first reported in humans in 1970, has re-emerged as a significant global health threat. The new, more severe strain has spread to countries like Uganda, Kenya, Burundi, and Rwanda, which had previously reported no cases. With international travel on the rise post-pandemic, the virus is expected to spread further, raising concerns about the potential for a widespread global outbreak.
SOURCE: Ref Image from Houston Public Media
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