Lansing’s top biopharmaceutical company reported second quarter revenues that increased by 88 percent over 2007.
Emergent BioSolutions reported second quarter revenues of $43.5 million, up from $23.2 million in 2007. The company attributed the growth to increased sales of BioThrax (R) (Anthrax Vaccine Adsorbed).
BioThrax(R) (Anthrax Vaccine Adsorbed), is the only vaccine approved by the U.S. Food and Drug Administration to prevent anthrax infection.
"Our financial performance for the second quarter and first half of 2008 reflects significant progress toward attaining our financial goals for the year,” says R. Don Elsey, Emergent BioSolutions' chief financial officer.
Emergent BioSolutions is expanding its internal manufacturing and product development infrastructure, Elsey says. The company is also investing in new acquisitions including a human monoclonal antibody, which is a therapeutic for anthrax infection, and an advanced recombinant protective antigen anthrax vaccine.
Net income for the second quarter of 2008 was $1.8 million, or $0.06 per share, in comparison to a net loss of $5.0 million, or $0.17 per share, for the comparable period in 2007.
Emergent develops, manufactures and commercializes vaccines and biotherapeutics that assist the body's immune system to prevent or treat disease. Emergent's products target infectious diseases and other medical conditions that have resulted in significant unmet or underserved public health needs.
Source: Emergent BioSolutions
Ivy Hughes, development news editor, can be reached here.
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