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Financial Report: Emergent BioSolutions

Contract manufacturing revenues up 20% in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

Emergent BioSolutions
 
3Q Revenues: $164.9 million (+20%)

3Q Earnings: $36.9 million (+69%)

YTD Revenues: $354.7 million (+17%)

YTD Earnings: $29.5 million (earnings were $6.6 million YTD14)

Comments: Product sales were $124.0 million, up 47% in the quarter driven by BioThrax sales, up 66% to $109.8 million. Revenue from contract manufacturing operations was $11.3 million, up 20% primarily due to the timing of fill/finish services to third parties. Contracts, grants and collaborations revenue was $29.6 million, down 33% primarily due to recognition in 2014 of $15.3 million of the upfront fee related to MOR209/ES414, the company’s prostate cancer drug being developed in collaboration with MorphoSys AG. R&D expenses were $41.9 million, a decrease of 5%. In the quarter, the company announced its plan to spin-off its Biosciences business, Aptevo Therapeutics, into a separate publicly traded company, targeted for mid-2016.

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