Emergent pens $480 million deal to produce COVID-19 vaccine candidate
Share of US biotech Emergent BioSolutions (NYSE: EBS) rose almost 5% to $88.26 by midday Monday, after it announced a five-year manufacturing services agreement with Janssen Pharmaceuticals, part of US healthcare giant Johnson & Johnson (NYSE: JNJ), for large-scale drug substance manufacturing for J&J’s investigational SARS-CoV-2 vaccine, Ad26.COV2-S, recombinant based on the AdVac technology.
Emergent will provide contract development and manufacturing (CDMO) services to produce drug substance at large scale over five years, valued at approximately $480 million for the first two years.
“We are proud to deploy our manufacturing strength to address the COVID-19 pandemic,” said Robert Kramer Sr, president and chief executive of Emergent BioSolutions, adding: “Advancing this collaboration is one of the ways we live our mission – to protect and enhance life.”
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