Amid rising concerns over an escalating monkeypox (mpox) outbreak in Africa, vaccine manufacturers are witnessing a sharp rise in their stock prices.
The World Health Organization's recent declaration of a public health emergency has prompted nations to urgently mobilize resources to contain the spread of the virus.
Leading the charge, Danish pharmaceutical company Bavarian Nordic, known for its mpox vaccine, saw its shares climb by as much as 17% during early trading in Copenhagen on Thursday, as per Forbes.
Although the initial gains later stabilized at around 11%, the stock's upward trajectory extends from the previous day when the WHO and Africa’s top health authorities classified the outbreak as a public health emergency.
Bavarian Nordic's vaccine is currently the most widely preferred by global health authorities, and the company has already committed to providing substantial doses to aid in the containment efforts.
In addition to Bavarian Nordic, other companies involved in producing vaccines related to mpox have also seen fluctuations in their stock prices.
Meanwhile, shares of Emergent BioSolutions, a Maryland-based firm that acquired the smallpox vaccine ACAM2000, jumped nearly 12% on Wednesday before dipping by 3.5% in premarket trading on Thursday.
