Emergent BioSolutions Appoints Industry Leader Joseph C. Papa as New President and CEO
February 21 2024 - 7:00AM
Emergent BioSolutions Inc. (NYSE: EBS), a global company providing
solutions that address public health threats and delivering
life-extending products to market, today announced that its Board
of Directors has appointed Joseph C. Papa as president and CEO,
effective February 21, 2024. Mr. Papa succeeds Haywood Miller, who
will step down from his role as interim CEO, effective February 21,
2024.
"Following a thorough search process, we are pleased to appoint
Joe Papa as president and CEO of Emergent,” said Zsolt Harsanyi,
Ph.D., chairman of the Board of Directors. “He is a recognized
industry leader with unparalleled experience in all facets of the
pharmaceutical and healthcare industry. Joe has a solid track
record of driving growth and successfully navigating companies
through periods of transformation. His leadership will be
instrumental in strengthening Emergent’s balance sheet and
returning to growth, as we continue to deliver on our mission to
protect and enhance life. On behalf of the Board, I would also like
to thank Haywood Miller for his leadership and contributions during
this interim period.”
“Whether it’s increasing access to NARCAN® Nasal Spray, which is
helping combat the opioid epidemic, or continuing to deliver
important medical countermeasures to customers around the world,
Emergent is providing critical products to address global health
crises,” said Mr. Papa. “I am confident that these important
products provide for a bright future ahead as Emergent continues to
lead in public health preparedness. I look forward to working with
the team to accelerate the company’s progress, continue improving
its financial position and drive value for shareholders. It is a
privilege to join Emergent and chart a new chapter in this vital
space.”
“Over the past several months, I am encouraged by our
achievements in strengthening Emergent’s financial foundation and
core products business,” stated Mr. Miller. “It has been an honor
to lead Emergent during this period of transition, and I am
confident the company is well positioned for the future as a leader
in global preparedness and public health.”
2023 Key Milestones & Accomplishments
Emergent's sharpened strategic focus delivered several key
accomplishments in 2023, including:
Strengthened Portfolio
- Launched NARCAN® Nasal Spray over-the-counter opioid overdose
reversal treatment in the U.S., in addition to distributing over 20
million doses (10 million two-dose boxes) in the U.S. and
Canada
- Secured a new $235.8 million contract with U.S. Dept. of
Defense for BioThrax® (Anthrax Vaccine Adsorbed)
- Signed a new $379.6 million U.S. Dept. of Defense contract for
RSDL® (Reactive Skin Decontamination Lotion Kit)
- Received U.S. FDA approval of CYFENDUS® (Anthrax Vaccine
Adsorbed, Adjuvanted), formerly AV7909, a two-dose anthrax vaccine
for post-exposure prophylaxis use
- Awarded a $75 million option to Emergent’s existing contract
for the acquisition of anthrax vaccine CYFENDUS®
- Awarded a 10-year contract by BARDA for advanced development,
manufacturing scale-up, and procurement of Ebanga™
(ansuvimab-zykl), a treatment for Ebola
- Submitted a supplemental Biologics License Application to the
FDA for ACAM2000® (Smallpox (Vaccinia) Vaccine, Live) vaccine for
immunization against Mpox virus
Improved Financial Position
- Implemented organizational changes resulting in $60 million in
annual savings
- Shifted resource deployment resulting in $100 million in annual
savings
- Amended and extended maturity of our secured credit facility to
May 2025
- Travel Health business divestiture – valued at up to $380
million
About Joseph C. Papa
Mr. Papa brings over 35 years of experience in the healthcare
and pharmaceutical industry, having most recently served as Chief
Executive Officer and Chairman at Bausch and Lomb Corporation
(“Bausch and Lomb”) (NYSE: BLCO) a global eye health company.
During his tenure, Papa successfully led the Company’s IPO in May
2022 to raise $630 million. Prior to his role at Bausch and Lomb,
Papa was the Chief Executive Officer and Chairman of Bausch
Health.
He previously served as the Chairman and CEO of Perrigo, a
private-label over-the-counter pharmaceuticals manufacturer, and
led the pharmaceutical and technologies services division at
Cardinal Health, a healthcare services and distribution company.
Before that, Papa held the role of President and Chief Operating
Officer at Watson Pharmaceuticals and worked for 14 years at
Novartis Pharmaceuticals in the U.S. and Switzerland.
About Emergent BioSolutions
At Emergent, our mission is to protect and enhance life. For 25
years, we’ve been at work defending people from things we hope will
never happen—so we are prepared just in case they ever do. We
provide solutions for complex and urgent public health threats
through a portfolio of vaccines and therapeutics that we develop
and manufacture for governments and consumers. We also offer a
range of integrated contract development and manufacturing services
for pharmaceutical and biotechnology customers. To learn more about
how we plan to protect or enhance 1 billion lives by 2030, visit
our website and follow us on LinkedIn, X (formerly Twitter),
and Instagram.
Safe Harbor StatementThis press release
includes forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. All statements,
other than statements of historical fact, are forward-looking
statements. We generally identify forward-looking statements by
using words like “anticipate,” “believe,” “continue,” “could,”
“estimate,” “expect,” “forecast,” “future,” “goal,” “intend,”
“may,” “plan,” “position,” “possible,” “potential,” “predict,”
“project,” “should,” “target,” “will,” “would,” and similar
expressions or variations thereof, or the negative thereof, but
these terms are not the exclusive means of identifying such
statements. Forward-looking statements are based on our current
intentions, beliefs and expectations regarding future events based
on information that is currently available. We cannot guarantee
that any forward-looking statement will be accurate. Readers should
realize that if underlying assumptions prove inaccurate or if known
or unknown risks or uncertainties materialize, actual results could
differ materially from our expectations. Readers are, therefore,
cautioned not to place undue reliance on any forward-looking
statements. Any forward-looking statement speaks only as of the
date of this press release and, except as required by law, we do
not undertake any obligation to update any forward-looking
statement to reflect new information, events or circumstances.
There are a number of important factors that could cause our
actual results to differ materially from those indicated by any
forward-looking statements. Readers should consider this cautionary
statement, as well as the risk factors and other disclosures
included in our periodic reports filed with the U.S. Securities and
Exchange Commission, when evaluating our forward-looking
statements.
Investor Contact:Richard S. LindahlExecutive
Vice President, CFOlindahlr@ebsi.com
Media Contact:Assal HellmerVice President,
Communicationsmediarelations@ebsi.com
Bausch plus Lomb (NYSE:BLCO)
Historical Stock Chart
From Apr 2024 to May 2024
Bausch plus Lomb (NYSE:BLCO)
Historical Stock Chart
From May 2023 to May 2024