Emergent BioSolutions Finalizes Sale of Travel Health Business to Bavarian Nordic
May 15 2023 - 7:58AM
Emergent BioSolutions Finalizes Sale of Travel Health Business to
Bavarian Nordic
Emergent BioSolutions (NYSE: EBS) today announced it has completed
the sale of its travel health business to Bavarian Nordic (OMX:
BAVA). At closing Emergent received $270 million, subject to
customary closing adjustments, and may receive up to an additional
$110 million in potential future milestone payments.
With the transaction closed, Bavarian Nordic has acquired the
rights to Vivotif®, the licensed typhoid vaccine, and Vaxchora®,
the licensed cholera vaccine, as well as the development-stage
chikungunya vaccine candidate CHIKV VLP. Bavarian Nordic also
acquired manufacturing facilities in Bern, Switzerland, and
development facilities in San Diego, California. The majority of
Emergent employees supporting these products and facilities are
joining Bavarian Nordic.
“This deal achieves two significant outcomes key to our mission
and future success,” said Robert G. Kramer, Emergent president and
chief executive officer. “It allows us to further sharpen our focus
on our core products and contract manufacturing services businesses
while continuing to deliver these important vaccines to patients
and customers who need them.”
For Emergent BioSolutions, Wells Fargo Securities, LLC served as
financial advisor, and Barnes & Thornburg LLP served as legal
counsel for this transaction.
About Emergent BioSolutions At Emergent, our
mission is to protect and enhance life. For over 20 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 our
mission to protect or enhance lives, visit
our website and follow us on LinkedIn, 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, including statements
regarding potential benefits of the transaction with Bavarian
Nordic, including potential future milestone payments, are
forward-looking statements. We generally identify forward-looking
statements by using words like “anticipate,” “believe,” “continue,”
“could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,”
“plan,” “should,” “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. We cannot
guarantee that any forward-looking statement will be accurate.
Readers should realize that if underlying assumptions prove
inaccurate 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 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 any
forward-looking statements. Readers should consider this cautionary
statement, as well as the risk factors identified in our periodic
reports filed with the U.S. Securities and Exchange Commission,
when evaluating our forward-looking statements.
Emergent BioSolutions Contacts:
Media: Matt Hartwig Senior Director, Media
Relations 240-760-0551 mediarelations@ebsi.com
Investors: Robert G. Burrows Vice President,
Investor Relations 240-631-3280 burrowsr@ebsi.com
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