Emergent BioSolutions (EBS) provides specialty products and is a life sciences company that specializes in addressing health threats related to the general public. EBS stock has completed a deal of a $23 million contract modification from Biomedical Advanced Research and Development Authority (BARDA) ramping up their vaccine production significantly. The FDA approved company is also producing an adequate number of vaccines in accordance to its production contracts and aims to use the $23 million to buy production machinery solely for the purpose of manufacturing Johnson & Johnson’s COVID-19 vaccine.
Emergent is expected to reduce the production of AstraZeneca’s COVID-19 vaccine bulk drug substance. This reduction took place after due considerations and a mutual agreement from the US government and AstraZeneca
Can Emergent BioSolutions Recover, After EBS Stock Price Crashed Due To Loss In Johnson and Johnson Vaccines.
Emergent BioSolutions (EBS) stock declined over 13% following news that approximately 15 million Johnson and Johnson vaccines were disposed as one batch of vaccine produced at the EBS facility, was not up to quality standards. Emergent BioSolutions reported in a statement that the low quality batch was isolated and adequately tossed off keeping in view medicinal disposal regulations. However, the state is stagnant on the fact that the blunder will not affect current Covid 19 appointments.
The Food and Drug Administration (FDA) has approved the Johnson and Johnson vaccines to fight covid-19 with Moderna and Pfizer being its sole competitors, however, Johnson & Johnson having a competitive advantage as the only vaccine available in the market being of a single dose.
Presently, EBS stock has established various partnerships and strategic relationships with the U.S. government, pharmaceutical and biotech companies as well as NGO’s. Having penetrated in the vaccine market amidst a pandemic has proven significant in increasing the company’s valuation, however safety concerns about their vaccine quality has plummeted EBS stock with disposal of 15M vaccines.