Pharmaceutical stocks rise due to mpox outbreak

​​​​​​​By Burhan Sansarlioglu

ISTANBUL (AA) - Since the World Health Organization (WHO) last month classified the global mpox situation as a public health emergency of international concern, pharmaceutical, medical technology, and biopharmaceutical shares have risen while airlines stocks dropped.

Analysts said airline stocks fell last month due to growing concerns that the virus would spread globally as quickly as COVID-19 – which killed millions worldwide – including sectors such as travel, tourism, and transportation.

Since the Aug. 14 declaration by the WHO, shares of Japanese medical tools supplier Precision System Science jumped as much as 67.1% and Danish vaccine developer Bavarian Nordic soared 43.3%.

According to the EU Commission, Bavarian Nordic's MVA-BN, also known as Modified Vaccinia Ankara-Bavarian Nordic, is the only mpox vaccine approved in the EU, European Economic Area, and the UK. The brand is marketed as JYNNEOS in the US and Switzerland and IMVAMUNE in Canada.

MVA-BN has been indicated for use in the general adult population – 18 years and older – in individuals considered at risk for smallpox or mpox.

Medical tools supplier Precision System Science Co. surged as much as 39% in Japan, while virus detection kit maker Shanghai ZJ Bio-Tech Co. gained as much as 8.4% in China.

The shares of British pharmaceutical company GlaxoSmithKline gained 9.6%, Swiss-based pharmaceutical Novartis 8.4%, French-based pharmaceutical Sanofi 7.3%, US-based Johnson & Johnson 5.1%, US-based Merck by 4.7%, Chinese-based Shanghai ZJ Bio-Tech Co 4.5%, US-based biopharmaceutical Gilead Sciences 3.9%, German-based Bayer 1.3%, and Swiss-based Roche 0.5%.

On the other hand, stocks of Chinese Sinopharm Group lost 1% and US-based pharmaceutical companies Pfizer 5% and Emergent Biosolutions by 34.6%.

Over 22,000 mpox cases were reported in more than a dozen African countries, while other countries such as Philippines, Taiwan, Thailand, Sweden, Australia, and Pakistan also confirmed mpox cases.

Mpox is a viral disease that spreads through close contact and contaminated materials such as sheets, clothing, and needles, according to the WHO, a UN agency.