Emergent BioSolutions to sell its travel health business to Bavarian Nordic
On February 15, 2023, Emergent BioSolutions, the NYSE-listed developer and manufacturer of vaccines, announced that it had entered into an agreement to sell its travel health business to Bavarian Nordic for a total value of up to USD 380 million, including potential future milestone payments. The transaction is expected to close in the second quarter of 2023, subject to regulatory clearance and customary closing conditions.
Under the terms of the agreement, Bavarian Nordic will acquire the rights to VIVOTIF®, indicated for the active immunization to prevent typhoid fever, and VAXCHORA®, indicated for the active immunization to prevent cholera, as well as the development-stage chikungunya vaccine candidate CHIKV VLP. Bavarian Nordic will also acquire Emergent's manufacturing site in Bern, Switzerland, and development facilities in San Diego, California.
Lenz & Staehelin is advising Emergent BioSolutions in this transaction. The team includes Simone Ehrsam and Tino Gaberthüel (Partners Corporate/M&A), Fabiano Menghini (Partner Real Estate), Stephanie Buschta (Associate Real Estate), Anja Affolter Marino (Associate Employment) and Lukas Aebi (Associate Tax).