Emergent BioSolutions Receives 10-Year U.S. Government Contract
Emergent BioSolutions Inc. (EBS) announced on June 3 that the company received a 10-year contract with the U.S. Department of Health and Human Services. Under the terms of the contract, Emergent BioSolutions will provide a continuous supply of Vaccinia Immune Globulin Intravenous (VIGIV) over the next ten years for $535 million. VIGIC is the only therapeutic licensed by the FDA for the treatment of complications due to the smallpox vaccination. It is part of the smallpox preparations maintained by the U.S. Strategic National Stockpile.
Sonal alerted subscribers about the event at 6:30 am. Emergent BioSolutions opened for regular market trading at $40.06. The stock price continued to climb throughout the day before closing at $43.21. That is an event-day return of 7.9% for investors.
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