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Bavarian Nordic A/S
Bavarian Nordic makes and sells vaccines that protect people against infectious diseases like smallpox, rabies, and tick-borne encephalitis.
Bavarian Nordic is a vaccine company. It makes shots that protect people from a handful of nasty infectious diseases — most importantly smallpox and mpox, plus rabies and tick-borne encephalitis. It sells these vaccines to governments, public health agencies, and health systems around the world, not to everyday consumers at a pharmacy counter.
The smallpox and mpox vaccine is the star of the show. Smallpox was eradicated decades ago, but governments still stockpile vaccines as a defense against a bioterror attack or a surprise outbreak. Bavarian Nordic's vaccine, sold as Jynneos in the US and Imvanex in Europe, is the main modern option approved for that job — and it became famous during the 2022 mpox outbreak, when demand suddenly exploded and orders poured in from governments scrambling to respond. The rest of the business rounds things out. It sells a rabies vaccine and a tick-borne encephalitis vaccine, mostly in Europe, and it also runs a contract manufacturing arm that makes vaccines for other companies. That mix means revenue can swing hard: big government stockpile orders land in lumps, so one year can look fat and the next thin. That order-driven lumpiness is the company's biggest vulnerability — it depends on a small number of large public buyers deciding when to restock.
Bavarian Nordic is headquartered in Denmark, near Copenhagen, and it invests heavily in its own manufacturing — including filling and finishing capacity that lets it scale up fast when an outbreak creates a surge. The bet is simple: keep the world's outbreak-defense vaccines ready, and be the reliable supplier governments call when something scary shows up.
Saved answer · last researched 12 Nov 2026