Emergent Revises Upward 2010 Financial Forecast
l Company anticipates total revenues of $275 to $300 million and net income of $40 to $50 million
July 20, 2010 07:03 AM Eastern Daylight Time
ROCKVILLE, Md.--(EON: Enhanced Online News)--Emergent BioSolutions Inc. (NYSE:EBS) announced today
that it is revising upwards its 2010 annual guidance to now reflect anticipated total revenues of $275 to $300 million
and net income of $40 to $50 million. Of the anticipated total revenues of $275 to $300 million, $165 to $190
million is expected to be recognized in the second half of 2010. This revised forecast does not reflect or incorporate
any revenue impact from a possible development contract for the company’s rPA vaccine candidate.
The revision to the 2010 financial forecast is supported primarily by the recent modification to the company’s current
BioThrax® procurement contract with the US Centers for Disease Control and Prevention (CDC). This contract
modification increased the number of doses of BioThrax that the company can deliver into the Strategic National
Stockpile (SNS) during calendar 2010. This increased volume of available doses of BioThrax is due to consistently
high production yields throughout 2010.
“This modification by the CDC to our existing BioThrax procurement contract reinforces, yet again, the US
government’s commitment to BioThrax as a critical component of the Strategic National Stockpile and to our
nation’s defense against bioterrorism,” said Fuad El-Hibri, chairman and chief executive officer of Emergent. “This is
another example of how we continue to work with our US government partners in establishing BioThrax as the
backbone of our readiness against the threat of anthrax and to building a stockpile as rapidly as possible.”
Daniel J. Abdun-Nabi, president and chief operating officer of Emergent, also commented, “The production yields
we have been experiencing are a direct result of our commitment to driving innovation in our manufacturing process
and to a multi-