Emergent BioSolutions Awarded $100 Million BARDA Contract for BioThrax Deliveries to the Strategic National Stockpile
March 17 2017 - 7:00AM
Emergent BioSolutions Inc. (NYSE:EBS) today announced that it has
signed a two-year contract with the Biomedical Advanced Research
and Development Authority (BARDA), a division within the Office of
the Assistant Secretary of Preparedness and Response, valued at
$100 million for the delivery of BioThrax® (Anthrax Vaccine
Adsorbed) to the Strategic National Stockpile (SNS). This contract
satisfies BARDA's notice of intent to sole source BioThrax that was
issued on December 8, 2016 and is separate from and in addition to
the company’s $911 million BioThrax procurement contract with the
Centers for Disease Control and Prevention (CDC). BioThrax pricing
under this BARDA procurement contract is the same as BioThrax
pricing under the CDC follow-on contract.
“Emergent is pleased to support BARDA in its efforts to enhance
the nation’s preparedness against the threat of anthrax,” said Adam
Havey, executive vice president and president biodefense division
at Emergent BioSolutions. “Emergent is committed to developing and
manufacturing preparedness solutions that address our customers’
needs to protect against a broad spectrum of public health
threats.”
Simultaneously with the execution of this procurement contract,
the company signed a modification to its September 30, 2016
contract with BARDA for the development and procurement of NuThrax™
(anthrax vaccine adsorbed with CPG 7909 adjuvant), the company’s
next generation anthrax vaccine candidate. The modification
increases the number of doses of NuThrax to be delivered under the
base period from two million to three million doses with a
commensurate reduction in dose price for the initial deliveries.
The modification also reduces the purchase price for doses to be
procured during the option period by $100 million thereby reducing
the total contract value to be up to $1.5 billion, from the
previously disclosed $1.6 billion.
Contract HHSO100201700007C for the procurement of BioThrax and
contract HHSO100201600030C for the advanced development and
delivery of NuThrax have both been funded in whole or in part with
Federal funds from the Office of the Assistant Secretary for
Preparedness and Response, Biomedical Advanced Research and
Development Authority, at the U.S. Department of Health
and Human Services.
About Emergent BioSolutionsEmergent
BioSolutions Inc. is a global life sciences company seeking to
protect and enhance life by focusing on providing specialty
products for civilian and military populations that address
accidental, intentional, and naturally emerging public health
threats. Through our work, we envision protecting and enhancing 50
million lives with our products by 2025. Additional information
about the company may be found at emergentbiosolutions.com. Follow
us @emergentbiosolu.
Safe Harbor StatementThis 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 the total potential realizable value of the contract, our
strategy, future operations, prospects, plans and objectives with
respect to BioThrax and any other statements containing the words
“believes,” “expects,” “anticipates,” “intends,” “plans,”
“estimates” and similar expressions, are forward-looking
statements. These forward-looking statements are based on our
current intentions, beliefs and expectations regarding future
events. We cannot guarantee that any forward-looking statement will
be accurate. Investors should realize that if underlying
assumptions prove inaccurate or unknown risks or uncertainties
materialize, actual results could differ materially from our
expectations. Investors are, therefore, cautioned not to place
undue reliance on any forward-looking statement. Any
forward-looking statement speaks only as of the date of this press
release, and, except as required by law, we do not undertake to
update any forward-looking statement to reflect new information,
events or circumstances.
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 under the contract and our manufacturing
capabilities and strategies. The foregoing sets forth many, but not
all, of the factors that could cause actual results to differ from
our expectations in any forward-looking statement. Investors should
consider this cautionary statement, as well as the risk factors
identified in our periodic reports filed with the SEC, when
evaluating our forward-looking statements.
Investor Contact:
Robert G. Burrows
Vice President, Investor Relations
240-631-3280
BurrowsR@ebsi.com
Media Contact:
Tracey Schmitt Lintott
Senior Vice President, Global Public Affairs
240-631-3281
SchmittT@ebsi.com
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