Emergent BioSolutions [NYSE: EBS] Reaffirms 2021 Financial Guidance

Emergent BioSolutions Inc. [NYSE: EBS] has confirmed the business guidance for 2021. US-based drug manufacturer asserted that it would proceed with its manufacturing pacts linked to the COVID-19 vaccine. The firm disclosed that there will be no modifications to its financial guidance 2021.

Additionally, the firm has also declared that BARDA has ramped up the orders for the COVID-19 vaccine by $23 million. Emergent inked the historic COVID-19 pact with BARDA, under the CIADM pact first set up as a public-private collaboration for pandemic readiness in 2012. The aim of this historic pact is to grow the production capability.

Furthermore, this agreement also offered the administration a chance to utilize aloof capacity for making COVID-19 shots and therapeutics coherent with the policy goals of the U.S. government. Emergent BioSolutions is endeavoring to strengthen the supply chain for the much-needed J&J vaccine.

Expansion of Production

The $23 million orders of vaccine by BARDA will be used to purchase biologics equipment particular to the vaccine of J&J. Moreover, this amount will also offer support for the possible production facility growth at the Baltimore Bayview facility of the firm. Furthermore, EBS also anticipates coordinating with the U.S. authority and AstraZeneca on a joint decision to decrease the production of COVID-19 vaccine mass drug substance of AZN.

EBS also disclosed that it will continue to own the facility and execute its agreements coherent with its commitments to all of its clients and in accordance with the monitoring requirements decreed by the FDA and all other relevant regulatory bodies.

Partnership Pacts of Emergent

Currently, EBS has nine COVID-19 CDMO collaborations with pharmaceutical and biotech developers, the U.S. administration, non-government agencies for vaccines and therapeutics across a wide variety of sites and drug substance, drug product, and enhancement of service offerings. Emergent disclosed that it been working jointly with Johnson & Johnson and it would be grateful for the extra management and assistance at its Bayview facility.