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Emergent Secures Contract To Manufacture Providence Therapeutics' COVID-19 Vaccine Candidate

  • Emergent BioSolutions Inc (NYSE: EBShas signed a five-year agreement with Providence Therapeutics valued at about $90 million to develop and manufacture its COVID-19 vaccine candidate.
  • Emergent will produce drug substances for Providence’s vaccine candidate, PTX-COVID19-B, and provide services for finished products at its Winnipeg facility in Canada.
  • Emergent expects to manufacture tens of millions of doses of Providence’s shot in 2022 and batches of formulated bulk drug substances for the vaccine.
  • The agreement covers the cost for manufacturing services, studies to support global supply chain activities, and facility and equipment investments.
  • Price Action: EBS shares traded lower by 1.10% at $56.75 on the last check Tuesday.

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