Emergent BioSolutions Awarded U.S. Department of State Contract Valued at Up to $25 Million to Supply Nerve Agent Antidote Au...
October 04 2017 - 7:00AM
Emergent BioSolutions Inc. (NYSE:EBS) today announced that it has
been awarded a contract valued at up to approximately $25 million
by the U.S. Department of State to supply TROBIGARD™ (Atropine
Sulfate [2mg]/Obidoxime Chloride [220mg]) auto-injector, a drug and
device combination product for emergency use in the event of nerve
agent or organophosphate poisoning. Trobigard is designed for
intramuscular self- or buddy-administration of atropine sulfate and
obidoxime chloride for pre-hospital intervention.
“Emergent is committed to meeting the State Department’s need
for nerve agent countermeasures that enhance the security of U.S.
and allied diplomats deployed in high-risk environments worldwide,”
said Sean Kirk, senior vice president, manufacturing operations and
interim head, devices business unit at Emergent BioSolutions. “By
leveraging our proprietary Emergard auto-injector platform and our
core competencies in contracting, manufacturing, and partnering, we
are confident in our ability to provide critical preparedness
solutions that could address governments’ currently identified
threats and emerging requirements.”
“Our priority is to provide for the safety and security of U.S.
government personnel and their families deployed around the world
as they carry out their mission,” said William A. Walters, M.D.,
managing director of operational medicine for the U.S. Department
of State. “Partnering with companies such as Emergent, who can
provide reliable solutions to our requirements is important in our
efforts to protect against known and emerging health threats.”
The primary scope of the contract, which consists of a 12-month
base period of performance with a 6-month option period, is to
manufacture and deliver the Trobigard product and training
auto-injectors, as well as to support the government’s emerging
requirements for other existing or custom-made auto-injectors.
2017 Financial ImpactThe company anticipates
making initial deliveries before year-end. Any potential financial
impact of this contract for 2017 will be discussed in early
November during the company’s scheduled earnings call to disclose
financial results for the three and nine months ended September
30.
About Emergent’s Chemical Medical Countermeasure
ProgramsEmergent has proprietary medical countermeasure
products and product candidates that address accidental or
intentional exposure to chemical agents. Emergent is currently
partnering with the U.S. government to develop new auto-injector
and intranasal products to defend against emerging chemical threats
such as nerve agents and cyanide. These single and multi-drug
device combination products are designed to support chemical
defense programs by governments around the world to protect
military and civilian populations.
About TrobigardTrobigard™ is Emergent’s first
nerve agent antidote auto-injector product launched outside the
United States. It has been designed as a pre-hospital medical
intervention during nerve agent and organophosphate poisoning.
Trobigard is manufactured in Germany and is currently stockpiled
and fielded by select European, Middle Eastern and other U.S.
allied countries authorized to purchase emergency use products.
Trobigard has not been approved by the U.S. Food and Drug
Administration or any other regulatory agency, and is not promoted
or distributed in the U.S.
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 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 the availability of
funding and the exercise of options under the Department of State
contract; and our commercialization, marketing and manufacturing
capabilities. 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.
BurrowsVice President, Investor
Relations240-631-3280BurrowsR@ebsi.com
Media Contact:Lynn KiefferVice
President, Corporate Communications
240-631-3391KiefferL@ebsi.com
Emergent Biosolutions (NYSE:EBS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Emergent Biosolutions (NYSE:EBS)
Historical Stock Chart
From Apr 2023 to Apr 2024