Emergent BioSolutions bags $250M in contract modifications to help boost US supply of medical countermeasures
02 Jul 2024
Preview
Source: FiercePharma
The U.S. Department of Health and Human Services' Administration for Strategic Preparedness and Response modified four existing contracts with Emergent BioSolutions.
With four contract modifications totaling more than $250 million, the government is leveling up its agreements with long-time medical countermeasures supplier Emergent BioSolutions.
The U.S. Department of Health and Human Services' (HHS') Administration for Strategic Preparedness and Response (ASPR) edited existing contracts with the company in an effort to bulk up its stock of certain products in case of “biological threats and emergencies,” according to an Emergent press release.
Under the new deals, Emergent will deliver “millions of doses” of its adjuvanted anthrax post-exposure prophylaxis vaccine Cyfendus and its smallpox vaccine Acam2000, plus its VIGIV (vaccinia immune globulin intravenous drug product) and BAT drug substance (botulism antitoxin heptavalent) to combat smallpox vaccination complications and symptomatic botulism, respectively.
The $30 million Cyfendus contract modification builds on an existing 10-year contract Emergent had inked with the Biomedical Advanced Research and Development Authority. The new deal requires the vaccine to be supplied this year, as does the $99.9 million Acam2000 modification, which expands Emergent’s 10-year contract with ASPR.
As for the remaining $122 million, the funds will be used to purchase VIGIV and BAT as part of two new contract options under existing pacts with ASPR. The Maryland-based drugmaker will deliver the drug supplies through early 2025.
“Securing multiple contract modifications with the U.S. government for our medical countermeasure products affirms that Emergent is a trusted biodefense partner, and also demonstrates the strength and sustainment of our product portfolio,” Emergent's products head, Paul Williams, said in the release.
Earlier this year, the U.S. Department of Defense enlisted Emergent to supply its anthrax immunization BioThrax through a five-year, $235.8 million contract. The deal features a five-year option that could extend the supply pact to 2033.
The company is a long-time supplier of anthrax countermeasures and has inked several deals in this field, including a $911 million agreement with the Centers for Disease Control and Prevention in 2016.
The new updates come at an important time for Emergent. In May, the company’s new CEO detailed his plan for an organizational restructuring to save some $80 million in annual costs. The restructuring plan calls for several hundred layoffs. In addition, Emergent recently sold a Baltimore site to CDMO Bora Pharmaceuticals for $30 million.
For more details,please visit the original website
The content of the article does not represent any opinions of Synapse and its affiliated companies. If there is any copyright infringement or error, please contact us, and we will deal with it within 24 hours.
Targets
-Chat with Hiro
Hot reports
Get started for free today!
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Empower better decisions with the latest in pharmaceutical intelligence.