Welcome to our dedicated page for Emergent Biosolutions news (Ticker: EBS), a resource for investors and traders seeking the latest updates and insights on Emergent Biosolutions stock.
Emergent BioSolutions, Inc. (NYSE: EBS) is a global life sciences company dedicated to protecting and enhancing life. With a mission to secure public health, Emergent develops, manufactures, and distributes a broad portfolio of medical countermeasures for biological and chemical threats as well as emerging infectious diseases. The company is committed to safeguarding lives and aims to protect and enhance 50 million lives with its products by 2025.
Headquartered in Gaithersburg, Maryland, Emergent operates through three primary segments: Commercial, Products, and Services. The Commercial segment, which generates the majority of the company's revenue, includes key products such as NARCAN® Nasal Spray—a life-saving medication for opioid overdoses. NARCAN® has become widely accessible in pharmacies, grocery stores, and online retailers, significantly increasing public availability since its over-the-counter approval by the FDA in March 2023.
Emergent is also known for its role in developing and manufacturing vaccines and therapeutics, particularly for governments and healthcare providers. The company's Baltimore Bayview manufacturing facility recently received a “No Action Indicated” status from the FDA, confirming its compliance with good manufacturing practices. This recognition underscores Emergent's dedication to quality and compliance in its manufacturing processes.
Financially, Emergent is focused on stabilizing its operations and strengthening its balance sheet. The recent restructuring plan aims to streamline operations, close certain manufacturing facilities, and reduce workforce by 300 employees, resulting in annualized savings of approximately $80 million. Despite these changes, Emergent remains dedicated to its core business areas and continues to offer integrated contract development and manufacturing services to pharmaceutical and biotechnology customers.
Key recent developments include the extension of NARCAN® Nasal Spray's shelf life from 36 to 48 months and its widespread distribution across the U.S. and Canada. Emergent is also actively working with partners like the National Safety Council to educate businesses and the public about opioid overdose prevention and response.
Emergent is committed to its long-term vision of protecting and enhancing 1 billion lives by 2030. The company continues to innovate and expand its product offerings while maintaining a strong focus on public health and safety.
Emergent BioSolutions (NYSE:EBS) has initiated a Phase 3 clinical trial for its COVID-19 Human Immune Globulin (COVID-HIG) under the sponsorship of NIAID. This trial, named INSIGHT-013, aims to evaluate the safety and efficacy of COVID-HIG in hospitalized COVID-19 patients, with approximately 500 participants expected. COVID-HIG is intended to augment the natural antibody response to SARS-CoV-2 when combined with remdesivir. Emergent has secured $14.5 million in funding for COVID-HIG and is also exploring its use in high-risk populations.
Emergent BioSolutions (NYSE: EBS) announced a partnership with the Boston Red Sox, Cincinnati Reds, Philadelphia Phillies, and MAPDA to promote awareness of overdose reversal medicines on International Overdose Awareness Day, August 31, 2020. The collaboration will include special announcements and presentations aimed at emphasizing the importance of accessing life-saving medications. Doug White, SVP of Emergent, stressed the need for public awareness and access to these medicines to combat opioid overdoses. The initiative aligns with Emergent's mission to enhance public health and community safety.
Emergent BioSolutions (NYSE: EBS) announced the appointment of Marvin L. White as a Class II director on its board, effective October 1, 2020. Mr. White, who previously served on the board from 2010 to 2016, brings significant experience from the pharmaceutical and healthcare sectors. He has held leadership positions at Aptevo Therapeutics, St. Vincent Health, and Eli Lilly. His role on the board aims to enhance the company's growth strategy and increase shareholder value, as emphasized by executive chairman Fuad El-Hibri.
Emergent BioSolutions (NYSE: EBS) has announced its participation in several upcoming virtual investor conferences through September 2020. Key events include the NYSE Healthcare & Technology Investor Access Day on August 18, the Midwest IDEAS Investor Conference on August 27, and the Wells Fargo Virtual Healthcare Conference on September 9, among others. These conferences will feature presentations discussing recent business developments, financial results, and future guidance. Webcasts will be available live and for replay on the Emergent website under the 'Investors' section.
Emergent BioSolutions (NYSE: EBS) announced the FDA's approval to extend the shelf life of NARCAN® Nasal Spray from 24 to 36 months. This marks a significant improvement for this emergency opioid overdose treatment, which is the first FDA-approved nasal naloxone. Doug White, Senior VP, emphasized the extension as part of their ongoing innovation to meet healthcare needs.
In July, Emergent launched a new Generation II NARCAN® device that enhances storage conditions, making the product more accessible in emergencies.
Emergent BioSolutions (NYSE: EBS) announced that the FDA has extended the shelf life of NARCAN® Nasal Spray from 24 months to 36 months. This nasal spray is the first intranasal form of naloxone approved for emergency opioid overdose treatment. The company launched the Generation II NARCAN device in July, designed to enhance temperature stability. This extension reflects Emergent's commitment to improving product features for healthcare providers and first responders, addressing the critical needs in opioid overdose situations.
Emergent BioSolutions (NYSE:EBS) has completed a $450 million offering of 3.875% Senior Unsecured Notes due 2028. The offering aims to strengthen the company's financial position by repaying $353 million of its revolving credit facility. The remaining funds will support general corporate purposes. These Notes are guaranteed by all subsidiaries that hold debt under credit facilities. The offering is compliant with Rule 144A and Regulation S under the Securities Act, and it is important to note that the Notes are unregistered and subject to regulatory exemptions.
Emergent BioSolutions (NYSE:EBS) announced the pricing of its offering of $450 million in 3.875% Senior Unsecured Notes due 2028, increasing from an initial $400 million. The company plans to use $353 million of the proceeds to repay outstanding amounts under its revolving credit facility, with the remainder for general corporate purposes. The offering is set to close on August 7, 2020. The notes are guaranteed by the company’s subsidiaries and will be offered to qualified institutional buyers under Regulation S and Rule 144A of the Securities Act.
Emergent BioSolutions (EBS) reported significant growth in Q2 2020, achieving total revenues of $394.7 million, a 62.3% increase from $243.2 million in Q2 2019. The net income surged to $92.7 million, up from a loss of $9.5 million in the prior year. Key drivers include CDMO partnerships related to COVID-19, with a notable $628 million contract from HHS under Operation Warp Speed. Adjusted EBITDA reached $156.1 million, marking a 431% increase. The company revised its full-year revenue guidance upward to $1.5-$1.6 billion, highlighting continued operational strength despite pandemic challenges.
Emergent BioSolutions has secured a contract worth approximately $174 million with AstraZeneca for large-scale manufacturing of the COVID-19 vaccine candidate AZD1222. This agreement, valid through 2021, increases AstraZeneca's total commitment to $261 million. Emergent's Baltimore Bayview facility will handle production, leveraging its extensive capabilities for rapid vaccine manufacturing. As part of the U.S. government's Operation Warp Speed, Emergent aims to enhance public health efforts during the pandemic while preparing for potential future commitments in commercial manufacturing.
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