Jefferies puts Bavarian Nordic at hold

Bavarian Nordic was given a hold rating by Jefferies & Co., Inc. analyst Robin Campbell on news that Acambis' proposal for the RFP3 MVA smallpox vaccine is no longer under consideration by the U.S. Department of Health and Human Services. Bavarian "scoops the lot" as a result, according to Campbell, or an initial Part A (a potential 20 million doses worth an estimated $300 million) and a Part B (a potential of 60 million doses worth an estimated $900 million). Shares of the Kvistgard, Denmark-based pharmaceutical company were up at DKK 85, or 20.73%, at DKK 495. (Copenhagen: BAVA)

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