SIGA Announces Creation Of Joint Procurement Mechanism By European Commission With Anticipated Initial Orders Of ~$18M For Oral TPOXX By Participating Countries
Portfolio Pulse from Happy Mohamed
SIGA Technologies announced the creation of a joint procurement mechanism by the European Commission's DG HERA. Under this mechanism, 13 participating countries from the EU and EFTA can order oral TPOXX. Initial orders are anticipated to be around $18 million within the next 60 days. This is expected to bring total TPOXX orders in 2023 to approximately $164 million, contributing to a pre-tax operating income of between $90 million and $100 million.
October 23, 2023 | 12:12 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
SIGA Technologies is expected to see an increase in revenues due to the creation of a joint procurement mechanism by the European Commission's DG HERA. Initial orders of oral TPOXX are anticipated to be around $18 million, contributing to a pre-tax operating income of between $90 million and $100 million in 2023.
The creation of a joint procurement mechanism by the European Commission's DG HERA allows 13 participating countries to order oral TPOXX. This is expected to result in an increase in orders for SIGA Technologies, thereby increasing their revenues and pre-tax operating income for 2023.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100