Markets maul Emergent over end to HHS deal

8 November 2021

Further bad news for Emergent BioSolutions (NYSE: EBS) caused the US company’s share price to drop by 37% on Friday.

The Maryland-based firm disclosed in a filing to the US Securities and Exchange Commission that, by mutual agreement with the US Department of Health and Human Services (HHS), the company's 2012 Center for Innovation in Advanced Development and Manufacturing contract to establish a public-private partnership for pandemic preparedness was to be terminated, along with all associated task orders.

This includes the 2020 task order to reserve capacity and expand manufacturing for third-party COVID-19 vaccine and therapeutic candidates.

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