Mpox global outbreak leads to significant increases in pharmaceutical stock markets
(MENAFN) Since the World health Organization (WHO) declared the global mpox situation a public health emergency of international concern last month, there has been a notable shift in Stock market trends across different sectors. Pharmaceutical, medical technology, and biopharmaceutical companies have experienced significant increases in their stock prices, while airline Stocks have seen declines. This change reflects growing investor concerns about the potential rapid global spread of mpox, reminiscent of the COVID-19 pandemic's impact on various industries, including travel and transportation.
Following the WHO's declaration on August 14, shares of Japanese medical tools supplier Precision System Science surged by up to 67.1 percent, and Danish vaccine developer Bavarian Nordic saw a substantial increase of 43.3 percent. Bavarian Nordic’s MVA-BN vaccine, also known as Modified Vaccinia Ankara-Bavarian Nordic, is the only mpox vaccine approved in the EU, the European Economic Area, and the UK. In the US and Switzerland, it is marketed as JYNNEOS, while in Canada, it is known as IMVAMUNE. This vaccine is recommended for individuals at risk of smallpox or mpox, specifically those aged 18 and older.
In addition to Bavarian Nordic, Precision System Science Co., a medical tools supplier, saw its shares rise by up to 39 percent in Japan, while Shanghai ZJ Bio-Tech Co., which manufactures virus detection kits, experienced an 8.4 percent increase in China. Other notable gains were observed among pharmaceutical companies, with British firm GlaxoSmithKline's shares up by 9.6 percent, Swiss-based Novartis increasing by 8.4 percent, and French-based Sanofi rising by 7.3 percent. US-based Johnson & Johnson and Merck saw their shares rise by 5.1 percent and 4.7 percent, respectively, while Chinese Shanghai ZJ Bio-Tech Co. increased by 4.5 percent. German Bayer and Swiss Roche experienced smaller gains of 1.3 percent and 0.5 percent, respectively.
Conversely, stocks of companies less directly involved in mpox-related medical solutions faced declines. Chinese Sinopharm Group's shares fell by 1 percent, while US-based Pfizer saw a 5 percent drop and Emergent Biosolutions experienced a dramatic 34.6 percent decrease. The global mpox outbreak has been marked by over 22,000 reported cases in more than a dozen African countries, with additional cases confirmed in countries such as the Philippines, Taiwan, Thailand, Sweden, Australia, and Pakistan. Mpox, a viral disease transmitted through close contact and contaminated materials like sheets, clothing, and needles, has heightened concerns about its potential impact on global health and economies.
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