Following an announcement of an expansion move, Emergent BioSolutions Inc. (NYSE: EBS) stock experienced a notable surge on Thursday. EBS shares rose 46.85%, to conclude at $8.40, driven by heightened investor enthusiasm. This upward trajectory reflects a positive market reaction to Emergent’s strategic moves.
Enhancing Access and Commitment
Emergent BioSolutions (EBS) has demonstrated its commitment to improving NARCAN Nasal Spray accessibility across the country by announcing plans to open a new NARCANDirect distribution facility in Nevada. This facility’s opening is a calculated reaction to the rising need for naloxone. Emergent intends to offer quick and effective delivery services to a range of stakeholders, including as emergency medical services, law enforcement, fire departments, and educational institutions, by putting in place a coast-to-coast distribution network.
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Qualified direct customers, including government entities and community-based naloxone distribution programs, can purchase and ship NARCAN Nasal Spray directly through the NARCANDirect site. This program demonstrates Emergent’s continued dedication to using a team approach to address the opioid epidemic. Through the improvement of distribution capacities on the West Coast, Emergent guarantees that partners in the public interest are adequately prepared to tackle the crisis.
About 64 million doses of NARCAN Nasal Spray have been given out in the United States and Canada since its debut in 2016. Emergent supplied over 11 million cartons in 2023 alone, or about 22 million doses. The business is unwavering in its resolve to increase accessibility and guarantee a sufficient supply to fulfill projected demand in 2024.
Strategic Sale to SERB Pharmaceuticals
In addition to its distribution expansion, Emergent BioSolutions has strategically sold its RSDL (Reactive Skin Decontamination Lotion) kit to SERB Pharmaceuticals for approximately $75 million. The deal includes a $5 million milestone payment related to the sourcing of a specific RSDL component. The transaction, which has been finalized, also involves SERB acquiring Emergent’s leased manufacturing facility in Hattiesburg, Mississippi, and integrating several site-based employees into its operations. Emergent’s Winnipeg facility will continue to manufacture and supply bulk lotion under a long-term agreement with SERB.
