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GAITHERSBURG, Md., Aug. 13, 2015 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE:EBS) today announced that the Centers for Disease Control and Prevention (CDC) has exercised options under contract 200-2012-52242 for the supply of Vaccinia Immune Globulin (VIGIV) into the U.S. Strategic National Stockpile. VIGIV is a therapeutic licensed by the U.S. Food and Drug Administration (FDA) for the treatment of complications due to smallpox vaccination. The contract options, valued at $44 million over two years, will require Emergent to collect plasma for future manufacturing in addition to current collection requirements, conduct manufacturing runs, and conduct additional activities in support of maintaining the FDA licensure of VIGIV.
"Emergent is proud to support the U.S. government's implementation of its long-term stockpiling strategy. Thirteen years after VIGIV was first delivered to the SNS, VIGIV still remains a critical medical countermeasure in the government's preparedness efforts," said Adam Havey, executive vice president and president biodefense division of Emergent BioSolutions. "We are pleased that CDC has exercised these contract options and look forward to successfully addressing their requirements."
This contract modification increases the total contract value to approximately $80 million. The scope of the contract, originally awarded to Cangene Corporation, which Emergent acquired in February 2014, was to maintain the ability to manufacture licensed VIGIV, with annual options to conduct additional services to support licensure maintenance activities for the product and to allow for additional manufacturing and plasma collections. VIGIV was first delivered into the SNS in 2002 and was subsequently licensed in the U.S. by FDA in 2005 and in Canada by Health Canada in 2007.
About Emergent BioSolutions
Emergent BioSolutions is a global specialty biopharmaceutical company dedicated to one simple mission—to protect and enhance life. We develop, manufacture, and deliver a portfolio of medical countermeasures for biological and chemical threats as well as emerging infectious diseases. We also develop and commercialize therapeutics and other specialty products for hospitals and clinics in the areas of hematology/oncology, transplantation, infectious diseases and autoimmune disorders. 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 www.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, including statements containing the words "believes", "expects", "anticipates", "intends", "plans", "estimates" and similar expressions, 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 availability of funding for our U.S. government grants and contracts and our manufacturing capabilities and strategy. 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.
CONTACT: Investor Contact: Robert G. Burrows Vice President, Investor Relations 240-631-3280 BurrowsR@ebsi.com Media Contact: Tracey Schmitt Vice President, Global Public Affairs and Corporate Responsibility 240-631-3394 SchmittT@ebsi.comNEXT ARTICLE
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