It has never brought a product to market. It has knowingly sold multiple defective products, almost always to the US government. No one else would buy them. Yet it has inexplicably made 300% profit margins.
And now (very quietly, as none of the companies who have partnered with Emergent BioSolutions seems to want to advertise the partnership) this company will be manufacturing 3 different Covid-19 vaccines--vaccines that have already been selected by the US government for advanced development. All three of these vaccines have entered Phase 3 (the final phase) of clinical trials.
Emergent BioSolutions will be manufacturing Covid-19 vaccines that were designed by Astra-Zeneca (Oxford University), Johnson and Johnson (Janssen division) and Novavax, a Maryland startup.
Emergent's name may not be on the label, but the company has inked Covid vaccine contracts with the US government and these 3 companies for well over a billion dollars.
However, they don't have an operation to accomplish this--the company is built on smoke and mirrors. Tomorrow (September 30) Emergent is hosting an online job fair, and hopes to hire 300 people. The Covid-19 vaccines will emerge from a factory just out of mothballs, with a workforce substantially filled by new hires.
Here are Emergent's press releases making the announcements:
Let the user beware!
https://investors.emergentbiosolutions.com/news-releases/news-release-details/emergent-biosolutions-signs-agreement-astrazeneca-expand
https://investors.emergentbiosolutions.com/news-releases/news-release-details/emergent-biosolutions-signs-development-and-manufacturing
https://investors.emergentbiosolutions.com/news-releases/news-release-details/emergent-biosolutions-signs-five-year-agreement-large-scale-drug
https://www.hhs.gov/about/news/2020/08/05/hhs-dod-collaborate-with-johnson-and-johnson-to-produce-millions-of-covid-19-investigational-vaccine-doses.html
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