Bavarian Nordic A/S: Yet Another COVID-19 Vaccine?

This case focuses on the efforts of Bavarian Nordic A/S, a Danish pharmaceutical company, to create a new COVID-19 vaccine. Their vaccine is based on a newer technology and has the potential to provide longer-lasting protection than the currently dominant BioNTech/Pfizer and Moderna vaccines. However, the project also faces obstacles related to uncertainty of vaccine efficacy, financing, product positioning, distribution, and access to production infrastructure. Indeed, given the head start of the incumbents’ vaccines, the dominance in this business of large pharmaceutical companies, and the multitude of other COVID-19 vaccines, some wonder whether the company should be going down this path at all.