Emergent BioSolutions Awarded U.S. Department Of State Contract Valued At Up To $25 Million To Supply Nerve Agent Antidote Auto-Injector
GAITHERSBURG, Md., Oct. 04, 2017 (GLOBE NEWSWIRE) -- 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 Impact
The 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 Programs
Emergent 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 Trobigard
Trobigard™ 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 BioSolutions
Emergent 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 Statement
This 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. Burrows
Vice President, Investor Relations
240-631-3280
BurrowsR@ebsi.com
Media Contact:
Lynn Kieffer
Vice President, Corporate Communications
240-631-3391
KiefferL@ebsi.com