Emergent pens $480 million deal to produce COVID-19 vaccine candidate

7 July 2020

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.”

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK