Mpox virus hits the stock market: Pharmaceutical companies gain, airlines lose

The potential for the Mpox virus to spread further in Africa and other regions has caused global concern, and company stocks have been affected by this situation. While more than 22 thousand people have lost their lives in 13 African Union (AU) member countries due to the virus, the disease has also been observed in the Philippines, Taiwan, Thailand, Sweden, Australia, and Pakistan.

Following the WHO's declaration that the Mpox virus constitutes a "public health emergency of international concern," pharmaceutical, medical technology, and biopharmaceutical companies saw gains on stock exchanges last month, while airline companies saw losses.

Analysts stated that airline stocks generally recorded declines last month as predictions that the virus could spread globally like COVID-19 increased concerns that areas such as travel, tourism, and transportation could be negatively affected.

Last month, shares of the Japanese medical supply company Precision System Science gained 67.1 percent, and shares of the Danish company Bavarian Nordic gained 43.4 percent.

The European Commission's website states that the "MVA-BN" or "Modified Vaccinia Ankara-Bavarian Nordic" produced by Bavarian Nordic is the only Mpox vaccine approved in the EU and the UK. It is noted that the vaccine is marketed as JYNNEOS in the US and Switzerland, and as IMVAMUNE in Canada. The vaccine can be used for individuals aged 18 and over.

On the stock exchanges, the British pharmaceutical company GlaxoSmithKline gained 9.6 percent, the Swiss-based drug manufacturer Novartis gained 8.4 percent, the French-based pharmaceutical company Sanofi gained 7.3 percent, the US-based pharmaceutical and medical technology company Johnson & Johnson gained 5.1 percent, the US-based Merck & Co gained 4.7 percent, the Chinese-based Shanghai ZJ Bio-Tech Co gained 4.5 percent, the US-based biopharmaceutical company Gilead Sciences gained 3.9 percent, the German-based Bayer gained 1.3 percent, and the Swiss-based Roche gained 0.5 percent.

For investors, the Chinese Sinopharm Group lost 1 percent, while US-based pharmaceutical companies Pfizer lost 5 percent and Emergent Biosolutions lost 34.6 percent.

Looking at the August stock performance of global airline companies, investors saw losses of 3.7 percent for China Southern Airlines, 3 percent for Air Canada, 3 percent for United Airlines, 1.2 percent for South Korea's Jeju Air, 1.2 percent for the US-based Delta Airlines, 0.3 percent for Japan Airlines, and 0.2 percent for the other US company American Airlines. Shares of the French Air France showed a flat trend.

On the other hand, shares of the German Lufthansa increased by 1.6 percent, shares of the Australian Qantas increased by 3.9 percent, and shares of the US-based Southwest Airlines increased by 7.3 percent.

The August stock performances of the world's leading pharmaceutical, medical technology, biopharmaceutical, and airline companies are as follows:

News Source: 12punto