What’s going on with EBS?
Emergent BioSolutions (EBS) saw its stock unchanged following a U.S. Food and Drug Administration’s inspection that raised quality concern issues and led to a production halt at the proposed manufacturing facility for the Johnson & Johnson COVID-19 vaccine. EBS shares were down 0.01% to $65.61 on Wednesday afternoon.
What it means for Emergent Biosolutions
During a routine inspection of the Emergent BioSolutions’ proposed facility for manufacturing the Johnson & Johnson COVID-19 vaccine, the FDA raised concerns that the plant’s processes potentially may not meet its requirements.
The concerns are unrelated to the reports of Johnson & Johnson vaccine causing blood clots. The instances are extremely rare cases. Instead, the FDA said its inspection identified concerns “have the potential to lead to quality issues during the manufacturing of a product… In the case of Emergent BioSolutions, we are working with the company to address the conditions identified.”
Vaccines already manufactured at the Emergent BioSolutions factory will undergo additional testing before they are allowed to be distributed, the FDA said.
EBS has an Overall Score of 30. Find out what this means to you and get the rest of the rankings on EBS!
Emergent BioSolutions offers public health products to government and healthcare providers. The company has four main units: vaccines, which produces specialty vaccines for public health threats; devices, such as nasal sprays, skin lotions, and injections; therapeutics, which includes antibody-based treatments; and contract development and manufacturing, which brings treatments to market through collaboration with the pharmaceutical and biotechnology industries and the United States government. Most revenue comes from U.S. government purchases of vaccine, device, and therapeutic products.
