Emergent BioSolutions to acquire PaxVax
Emergent BioSolutions has entered into an agreement to acquire PaxVax, a company focused on specialty vaccines that protect against existing and emerging infectious diseases, for $270 million. The majority of PaxVax is owned by an affiliate of Cerberus Capital Management.
Emergent will acquire Vivotif (typhoid vaccine live oral Ty21a), the only oral vaccine licensed by the Food and Drug Administration for the prevention of typhoid fever, a potentially severe and life-threatening infection caused by the bacterium S. Typhi. Vivotif is licensed for sale in 27 countries.
The company will also acquire Vaxchora (cholera vaccine live oral), the only FDA-licensed vaccine for the prevention of cholera caused by Vibrio cholerae serogroup O1, a potentially serious intestinal disease, according to the company.
“The acquisition of PaxVax solidifies our position as a global leader in the public health threats market, expands our portfolio of only-in-class products, advances our growth strategy, and progresses us towards the achievement of our 2020 financial and operational goals,” Daniel Abdun-Nabi, CEO of Emergent BioSolutions, said.
The acquisition includes an Adenovirus 4/7 vaccine candidate being developed for military personnel under contract with the U.S. Department of Defense and additional clinical-stage vaccine candidates targeting Chikungunya and other emerging infectious diseases.
“Importantly, we believe this acquisition will contribute incremental 2019 revenues of $70 million to $90 million and be accretive by the end of 2019. We look forward to continuing to drive growth in the business by building on the successes of PaxVax in the travelers market, leveraging our core competencies in government contracting and manufacturing, and advancing the development pipeline while remaining disciplined in our approach to R&D,” Abdun-Nabi said.
The transaction is expected to close in the fourth quarter of this year.
“We are excited to capitalize on this unique opportunity to acquire a portfolio of marketed vaccines supported by established commercial capabilities and global distribution partners that will enable us to diversify our customer base and expand our reach internationally,” Abigail Jenkin, SVP and head of the vaccines and anti-infectives business unit at Emergent BioSolutions said. “We look forward to merging the teams and growing our vaccines business to positively impact public health.”
Emergent will acquire Vivotif (typhoid vaccine live oral Ty21a), the only oral vaccine licensed by the Food and Drug Administration for the prevention of typhoid fever, a potentially severe and life-threatening infection caused by the bacterium S. Typhi. Vivotif is licensed for sale in 27 countries.
The company will also acquire Vaxchora (cholera vaccine live oral), the only FDA-licensed vaccine for the prevention of cholera caused by Vibrio cholerae serogroup O1, a potentially serious intestinal disease, according to the company.
“The acquisition of PaxVax solidifies our position as a global leader in the public health threats market, expands our portfolio of only-in-class products, advances our growth strategy, and progresses us towards the achievement of our 2020 financial and operational goals,” Daniel Abdun-Nabi, CEO of Emergent BioSolutions, said.
The acquisition includes an Adenovirus 4/7 vaccine candidate being developed for military personnel under contract with the U.S. Department of Defense and additional clinical-stage vaccine candidates targeting Chikungunya and other emerging infectious diseases.
“Importantly, we believe this acquisition will contribute incremental 2019 revenues of $70 million to $90 million and be accretive by the end of 2019. We look forward to continuing to drive growth in the business by building on the successes of PaxVax in the travelers market, leveraging our core competencies in government contracting and manufacturing, and advancing the development pipeline while remaining disciplined in our approach to R&D,” Abdun-Nabi said.
The transaction is expected to close in the fourth quarter of this year.
“We are excited to capitalize on this unique opportunity to acquire a portfolio of marketed vaccines supported by established commercial capabilities and global distribution partners that will enable us to diversify our customer base and expand our reach internationally,” Abigail Jenkin, SVP and head of the vaccines and anti-infectives business unit at Emergent BioSolutions said. “We look forward to merging the teams and growing our vaccines business to positively impact public health.”