EBS - Emergent contract manufacturer for J&J vaccines falls on guidance suspension

Emergent Biosolutions (NYSE:EBS) stock fell ~8% after the company on Thursday said it was temporarily suspending total revenue and Contract Development and Manufacturing (CDMO) guidance pending further clarity on Johnson & Johnson's (J&J) COVID-19 vaccine requirements.  EBS is a contract manufacturer of J&J's COVID-19 shot. J&J last week suspended its vaccine sales guidance, stating global supply surplus and demand uncertainty. However, EBS posted quarterly result that beat that beat estimates, helped by strong sales of Anthrax vaccines. Sales from Anthrax vaccines rose 88% to $103.6M. Q1 Revenue of $307.5M (-10.3% Y/Y) beat estimates by $24.96M. Quarterly revenue from CDMO decreased 67% to $60.8M. Last quarter, the company had said for 2021, it expects revenue to be in the range of $1.3B-$1.4B.

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Emergent, contract manufacturer for J&J vaccines, falls on guidance suspension