Bavarian Nordic sells vaccine voucher for $160 million

Danish vaccine company Bavarian Nordic has entered an agreement to sell a Priority Review Voucher for a total of $160 million, the company said Wednesday.

The voucher, which entitles its holder to an expedited U.S. Food and Drug Administration review for a new drug application, was awarded to Bavarian Nordic in February 2025.

The company received the voucher following the FDA's approval of VIMKUNYA™, its vaccine for the prevention of disease caused by the chikungunya virus.

Bavarian Nordic said the proceeds will be recognized as other operating income and will positively impact its 2025 earnings before interest, taxes, depreciation, and amortization, but will not affect its revenue guidance.

Pursuant to a license agreement, the U.S. National Institutes of Health is set to receive 20% of the gross proceeds from the sale.

The transaction is subject to customary closing conditions, including an anti-trust review, and is expected to be completed in the third quarter of 2025.

This is the second such voucher the company has sold, after it received $95 million for a voucher in late 2019 following the approval of its JYNNEOS smallpox and mpox vaccine.