Emergent BioSolutions Inc. scores $1.25B anthrax vaccine contract from Feds
Emergent BioSolutions Inc. today said it won a huge government contract to supply 44.75 million doses of its anthrax vaccine, worth up to $1.25 billion over five years.
Emergent's Biothrax vaccine is the only anthrax vaccine approved by the FDA. It has already delivered 55 million doses of the vaccine under various previous contracts with the federal government.
The Rockville based company has a manufacturing plant in Baltimore that's currently under renovation, and is not operating.
According to a press release this morning: Initial deliveries under this award are expected to commence in 2011 with 8.5 million doses scheduled to be delivered during the first contract year. Deliveries are scheduled to continue, subject to availability of funding, through September 2016. The company retains the ability to modify the timing of deliveries depending on manufacturing yields and other factors.
The press release is available on the jump:
ROCKVILLE, Md.--(EON: Enhanced Online News)--Emergent BioSolutions Inc. (NYSE: EBS) today announced that, in response to solicitation RFP-2011-N-13414, it has received an award to supply the U.S. government with 44.75 million doses of BioThrax®(Anthrax Vaccine Adsorbed) over a period of five years for a total value of up to $1.25 billion. BioThrax is the only vaccine licensed by the U.S. Food and Drug Administration (FDA) to protect against anthrax infection.
“Emergent is proud to be able to contribute to the U.S. government’s program of protecting the nation from the threat of anthrax”
“Emergent is proud to be able to contribute to the U.S. government’s program of protecting the nation from the threat of anthrax,” said Fuad El-Hibri, chairman and chief executive officer of Emergent BioSolutions. “This 5-year award provides for uninterrupted supply of this critical biodefense countermeasure while addressing the government’s mandate to reduce spending across all programs. In coming to agreement, Emergent and the Centers for Disease Control and Prevention worked diligently to establish business terms that incorporate substantial price concessions.”
Initial deliveries under this award are expected to commence in 2011 with 8.5 million doses scheduled to be delivered during the first contract year. Deliveries are scheduled to continue, subject to availability of funding, through September 2016. The company retains the ability to modify the timing of deliveries depending on manufacturing yields and other factors.
About Emergent BioSolutions Inc.
Emergent BioSolutions protects and enhances life by developing and manufacturing vaccines and therapeutics that are supplied to healthcare providers and purchasers for use in preventing and treating disease. Emergent's marketed and investigational products target infectious diseases, oncology and autoimmune disorders. Additional information about the company may be found atwww.emergentbiosolutions.com.
BioThrax is the only FDA-licensed vaccine for the prevention of anthrax infection. It is indicated for the active immunization of adults who are at high risk of exposure to anthrax. BioThrax is manufactured from a culture filtrate, made from a non-virulent strain ofBacillus anthracis. To date, Emergent has delivered over 55 million doses of BioThrax to the U.S. government and continues to deliver additional doses under active procurement contracts. Since 1998, over 10 million doses have been administered to more than 2.6 million military personnel. For full prescribing information, please visit www.biothrax.com/prescribinginformation_biothrax_us.pdf.
Safe Harbor Statement
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, including statements regarding our strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management, including any potential future securities offering, our expected revenue growth and net earnings for 2011, and any other statements containing the words “believes”, “expects”, “anticipates”, “plans”, “estimates” and similar expressions, are forward-looking statements. There are a number of important factors that could cause the company’s actual results to differ materially from those indicated by such forward-looking statements, including appropriations for BioThrax® procurement; our ability to obtain new BioThrax® sales contracts or modifications to existing contracts; our plans to pursue label expansions and improvements for BioThrax®; our plans to expand our manufacturing facilities and capabilities; the rate and degree of market acceptance of our products; the success of preclinical studies and clinical trials of our product candidates and post-approval clinical utility of our products; and other factors identified in the company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2011 and subsequent reports filed with the SEC. The company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
Robert G. Burrows, 301-795-1877
Vice President, Investor Relations
Tracey Schmitt, 301-795-1800
Vice President, Corporate Communications
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