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| Period | Item | Printed amount or volume | Scope as printed |
|---|---|---|---|
| Q3 2025. 2026 PP orders secured | Public Preparedness orders for 2026 | Approximately DKK 1,100 million | BARDA freeze-dried smallpox plus HERA joint procurement. Full-year 2026 guidance had not yet been issued |
| Q3 2025. HERA framework ceiling | EU HERA joint procurement (Oct 2025) | Up to 8 million doses over four years | Ceiling, not an order. EU, member states, and additional European countries may purchase |
| Q3 2025. HERA initial commitment | HERA committed doses | Approximately 1.1 million committed. First 750,000 expected in 2026 | Initial commitment inside the 8 million ceiling. Agreement signed after a 10-day standstill |
| FY2025. 2026 PP orders secured | Public Preparedness orders for 2026 | Approximately DKK 1,400 million | Printed with original FY2026 Public Preparedness guidance of DKK 1,800-2,000 million. Do not back into unsecured as guidance minus this figure |
| FY2025. HERA committed doses | HERA committed doses (updated) | 1.3 million committed. First 750,000 expected in 2026 | Annual report update from the Q3 2025 print of approximately 1.1 million |
| FY2025. Doses sold and distributed | Company-wide doses | More than 10 million doses worldwide | Floor as printed. Not an exact count. Includes commercial plus stockpile supply |
| FY2025. Mpox donations | Africa CDC and UNICEF donations | 130,000 mpox doses (110,000 Africa CDC / Uganda, 20,000 UNICEF / Liberia) | Donated, not sold. Separate from the more-than-10-million commercial and stockpile floor |
| 11 May 2026. BARDA freeze-dried options | BARDA JYNNEOS freeze-dried options | USD 97 million. Remaining 11.5 million-dose order for 2027 | Bulk to replace 2022/23 outbreak consumption is invoiced in 2026. Finished freeze-dried doses in 2027 |
| 11 May 2026. 2026 PP orders secured | Public Preparedness orders for 2026 | Approximately DKK 2,000 million | Increase of approximately DKK 600 million vs the prior print. Public Preparedness FY2026 guidance raised to DKK 2,300-2,500 million |
| H1 2026. 2026 PP orders secured | Public Preparedness orders for 2026 | Approximately DKK 2,300 million | Against upgraded FY2026 Public Preparedness guidance of approximately DKK 2,500 million. Not remaining performance obligation |
| H1 2026. 2027 PP orders secured | Public Preparedness orders for 2027 | Approximately DKK 800 million | Printed as secured revenue for delivery in 2027. Do not add to 2026 secured or scale from a mix percent |
| Period | Market | Printed share | Printed market growth |
|---|---|---|---|
| FY2024. RabAvert United States | Rabies, United States (RabAvert) | 75% (Annual Report 2024 print) | Not printed as a 2024 market-growth rate in that report |
| FY2024. Rabipur Germany | Rabies, Germany (Rabipur) | 91% | Not printed as a 2024 market-growth rate in that report |
| FY2024. Encepur Germany | TBE, Germany (Encepur) | 28% | Not printed as a 2024 market-growth rate in that report |
| 9M 2025. RabAvert United States | Rabies, United States (RabAvert) | 79% (4pp higher than prior-year 9M) | US rabies market +12% vs prior-year 9M |
| 9M 2025. Rabipur Germany | Rabies, Germany (Rabipur) | 97% (unchanged vs prior-year 9M) | German rabies market +53% vs prior-year 9M (prior year had supply constraints) |
| 9M 2025. Encepur Germany | TBE, Germany (Encepur) | 31% (3pp higher than prior-year 9M) | German TBE market +18% vs prior-year 9M |
| FY2025. RabAvert United States | Rabies, United States (RabAvert) | 78% (Annual Report 2025 cites 76% in 2024) | US rabies market +10% in 2025 |
| FY2025. Rabipur Germany | Rabies, Germany (Rabipur) | 97% vs 91% prior year | German rabies market +48% in 2025 |
| FY2025. Encepur Germany | TBE, Germany (Encepur) | 31% vs 28% prior year | German TBE market +19% in 2025. Germany is about 80% of Encepur revenue |
| Q1 2026. RabAvert United States | Rabies, United States (RabAvert) | 77% (1pp lower than prior-year Q1) | US rabies market +23% vs prior-year Q1 |
| Q1 2026. Rabipur Germany | Rabies, Germany (Rabipur) | 97% (in line with prior-year Q1) | German rabies market +29% vs prior-year Q1 |
| Q1 2026. Encepur Germany | TBE, Germany (Encepur) | 29% (1pp higher than prior-year Q1) | German TBE market +12% vs prior-year Q1. Q1 sales also hit by supply constraints and lower wholesaler stocks |
| H1 2026. RabAvert United States | Rabies, United States (RabAvert) | 78% (1pp lower than prior-year H1) | US rabies market +20% vs prior-year H1 |
| H1 2026. Rabipur Germany | Rabies, Germany (Rabipur) | 96% (1pp lower than prior-year H1) | German rabies market +22% vs prior-year H1. Other European rabies revenue +51% H1 and +91% in Q2 |
| H1 2026. Encepur Germany | TBE, Germany (Encepur) | 31% (1pp higher than prior-year H1) | German TBE market +3% vs prior-year H1. Shelf-life extended to 24 months in Q2 2026 |
Bavarian Nordic is founded in Denmark around MVA (modified vaccinia Ankara) as a non-replicating smallpox platform. Jynneos is the later commercial expression.
FDA licenses Jynneos (smallpox and mpox) on 24 Sep 2019. The 2022 mpox outbreak turns a stockpile product into an outbreak P&L.
Vimkunya (chikungunya) approved US/EU/UK in 2025. Direct competitor to Valneva IXCHIQ in travel clinics.
Serum Institute tech-transfer for LMIC chikungunya supply (Vimkunya). Volume path is SII, not branded travel ASP.
BARDA exercises $97M more freeze-dried Jynneos options (11 May 2026). Remaining 11.5M-dose order for 2027 delivery. Public-preparedness, not ACIP retail.