Emergent BioSolutions embarks on another spending spree
Shares of US biotech firm Emergent BioSolutions (NYSE: EBS) closed up 3.3% at $36.04 yesterday, after it announced another product acquisition.
The company has entered into an agreement with UK pharma major GlaxoSmithKline (LSE: GSK) to acquire raxibacumab, a fully human monoclonal antibody approved by the US Food and Drug Administration for the treatment and prophylaxis of inhalational anthrax.
Emergent also plans to assume responsibility for a multi-year contract with the Biomedical Advanced Research and Development Authority (BARDA), valued at up to around $130 million, to supply the product to the US Strategic National Stockpile (SNS).
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