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Emergent (EBS) to Manufacture AstraZeneca's Coronavirus Vaccine
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Emergent BioSolutions Inc. (EBS - Free Report) announced that it will provide contract development and manufacturing (CDMO) services to pharma giant AstraZeneca (AZN - Free Report) for supporting the manufacturing of the latter’s COVID-19 vaccine candidate AZD1222. The agreement is valued at around $87 million.
AstraZeneca’s viral vector-based candidate AZD1222 is being developed by Oxford University’s Jenner institute in coordination with the Oxford Vaccine Group.
The candidate is currently being evaluated in a phase II/III study with around 10,000 volunteers, which Oxford University initiated recently. Last month, the company received more than $1 billion in funding from BARDA to help produce the vaccine.
The financial outlook for 2020 that includes expectations related to this agreement and other relevant information will be provided when Emergent reports second-quarter 2020 earnings results.
Shares of Emergent have rallied 26.3% so far this year compared with the industry’s increase of 8.5%.
We note that to address the COVID-19 pandemic, Emergent inked several CDMO deals to provide manufacturing services for various companies to help them produce their respective experimental vaccine candidates against COVID-19.
In April, Emergent entered into an agreement whereby it will use its contract development and manufacturing services to support the manufacturing of Johnson & Johnson’s (JNJ - Free Report) lead vaccine candidate to fight COVID-19. The agreement is valued at nearly $135 million.
Similarly, Emergent reached a manufacturing agreement with small biotech Vaxart to produce the clinical material for the latter’s experimental oral vaccine candidate against COVID-19.
Emergent also has a collaboration contract with Novavax, Inc. (NVAX - Free Report) to support the latter’s development of a vaccine candidate against COVID-19. The company will use its CDMO services to advance Novavax’s COVID-19 vaccine candidate into a clinical stage.
Meanwhile, in March 2020, Emergent initiated the development of two product candidates for the treatment and prevention of the novel coronavirus disease. The company is developing the candidates by leveraging its hyperimmune platforms, which have a well-established safety database.
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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Emergent (EBS) to Manufacture AstraZeneca's Coronavirus Vaccine
Emergent BioSolutions Inc. (EBS - Free Report) announced that it will provide contract development and manufacturing (CDMO) services to pharma giant AstraZeneca (AZN - Free Report) for supporting the manufacturing of the latter’s COVID-19 vaccine candidate AZD1222. The agreement is valued at around $87 million.
AstraZeneca’s viral vector-based candidate AZD1222 is being developed by Oxford University’s Jenner institute in coordination with the Oxford Vaccine Group.
The candidate is currently being evaluated in a phase II/III study with around 10,000 volunteers, which Oxford University initiated recently. Last month, the company received more than $1 billion in funding from BARDA to help produce the vaccine.
The financial outlook for 2020 that includes expectations related to this agreement and other relevant information will be provided when Emergent reports second-quarter 2020 earnings results.
Shares of Emergent have rallied 26.3% so far this year compared with the industry’s increase of 8.5%.
We note that to address the COVID-19 pandemic, Emergent inked several CDMO deals to provide manufacturing services for various companies to help them produce their respective experimental vaccine candidates against COVID-19.
In April, Emergent entered into an agreement whereby it will use its contract development and manufacturing services to support the manufacturing of Johnson & Johnson’s (JNJ - Free Report) lead vaccine candidate to fight COVID-19. The agreement is valued at nearly $135 million.
Similarly, Emergent reached a manufacturing agreement with small biotech Vaxart to produce the clinical material for the latter’s experimental oral vaccine candidate against COVID-19.
Emergent also has a collaboration contract with Novavax, Inc. (NVAX - Free Report) to support the latter’s development of a vaccine candidate against COVID-19. The company will use its CDMO services to advance Novavax’s COVID-19 vaccine candidate into a clinical stage.
Meanwhile, in March 2020, Emergent initiated the development of two product candidates for the treatment and prevention of the novel coronavirus disease. The company is developing the candidates by leveraging its hyperimmune platforms, which have a well-established safety database.
Zacks Rank
Emergent currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>