Emergent BioSolutions Inc. said on Tuesday it completed the acquisition of raxibacumab, an antibody for treatment and prophylaxis of inhalational anthrax, from GSK.
Emergent said raxibacumab is the only fully human monoclonal antibody approved by the U.S. Food and Drug Administration (FDA) for the treatment of inhalational anthrax. As part of the acquisition, Emergent will take over a multi-year contract with the Biomedical Advanced Research and Development Authority (BARDA) to supply the antibody to the U.S. Strategic National Stockpile through November 2019.
That contract is valued at around $130 million.
“The acquisition of raxibacumab expands Emergent’s portfolio of approved medical countermeasures that address public health threats and reflects our commitment to meeting our customers’ preparedness needs,” Daniel J. Abdun-Nabi, president and CEO of Emergent BioSolutions, said. “We look forward to continuing to supply the SNS with this and other critical countermeasures that address Category A bioterrorism threats such as anthrax, botulism, and smallpox.”
Anthrax is a serious infectious disease caused by bacteria known as Bacillus anthracis. Biological agents such as anthrax can sicken or kill people, livestock, and crops.
Raxibacumab has been supplied to the SNS since 2009 under contracts with BARDA, which falls under the umbrella of the U.S. Department of Health and Human Services, according to the Gaithersburg, Maryland-based global life sciences company.
The acquisition is expected to be additive to revenue by about $9 million and neutral to GAAP net income for the company, as Emergent begins transferring manufacturing of raxibacumab from GSK to Emergent’s facilities – a process slated for completion in 2020.