EBS - Emergent BioSolutions Reports Mixed Results for Q4
Emergent BioSolutions (NYSE: EBS) reported fourth-quarter earnings that beat top-line expectations but missed on profit estimates. The company, which focuses on drugs, vaccines, and medical devices that address emerging public health threats, grew its revenue by 33% to $360.4 million, beating the analysts' consensus expectation of $357 million. Adjusted earnings per share were $1.57, which was slightly more than twice its EPS from the year-ago period, but below the $1.73 analysts were expecting.
Much of Emergent's sales growth came from $78.5 million in new shipments of ACAM2000, its smallpox vaccine. In 2019, the company won a new contract worth $2 billion over 10 years to supply the vaccine to the U.S. government's strategic stockpile. Sales of Narcan nasal spray, used by first responders in opioid overdose cases, reached $66.9 million, up 60% compared to its revenue from a partial quarter of shipments a year ago after the company acquired Adapt Pharma.
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