ARTICLE | Finance

Emergent Emerges

Emergent BioSolutions raises guidance on back of anthrax deals with CDC and HHS

July 26, 2010 7:00 AM UTC

Biodefense play Emergent BioSolutions Inc. (NYSE:EBS) has gained more than $115 million in market cap to $597 million in the last two weeks, after announcing an upward revision in its 2010 guidance; an increase in the CDC procurement contract for its BioThrax anthrax vaccine; and a contract to develop large-scale manufacturing for BioThrax with HHS.

Last week, Emergent said it now expects revenues of $275-$300 million and net income of $40-$50 million for 2010. Its previous guidance was for $20-$30 million in net income on $235-$255 million in revenues...