Bavarian Nordic raises 2026 revenue forecast as demand for rabies vaccines grows

Danish vaccine manufacturer Bavarian Nordic has raised its annual revenue forecast for the third time this year, citing stronger-than-expected sales of travel vaccines, particularly against rabies.

The company now expects revenue of 6.1 billion DKK in 2026, up from its previous forecast of 5.7 billion DKK, according to a company announcement Thursday.

At the beginning of the year, Bavarian Nordic had expected total revenue of between 5.0 billion and 5.2 billion DKK.

The latest increase is driven by its Travel Health division, which has seen growing demand for rabies vaccines, especially in the U.S.

“Increased rabies activity among animals has led to a significant increase in exposure among humans and thus an increased demand,” the company said.

Bavarian Nordic now expects its travel vaccine business to generate 3.4 billion DKK in revenue this year, compared with its earlier estimate of 3.0 billion DKK.

Jacob Pedersen, an investment strategist at Danish bank Middelfart Sparekasse, said the travel vaccine business had become “a new growth engine” for the company.

However, he questioned whether the increase in rabies vaccine sales would continue next year.

“The big question now is how much of the rabies boost will hold into 2027. Infection among animals fluctuates from year to year, so next year will have a tough comparison,” Pedersen wrote.

Besides rabies vaccines, Bavarian Nordic produces vaccines against tick-borne encephalitis (TBE) and chikungunya, a mosquito-borne disease.

The company also supplies vaccines used by governments to prepare for outbreaks of diseases such as mpox, formerly known as monkeypox.

Bavarian Nordic is scheduled to publish its third-quarter financial results on November 13, 2026.