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Emergent BioSolutions
Emergent BioSolutions (EBS) investor relations material
Emergent BioSolutions 44th Annual J.P. Morgan Healthcare Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.44th Annual J.P. Morgan Healthcare Conference summary15 Jan, 2026
Turnaround and Strategic Transformation
Launched a multi-year turnaround and transformation plan in 2024, focusing on stabilization, operational right-sizing, and aiming for transformation by 2026 and beyond.
Streamlined operations through $150 million in divestitures and $250 million in operating expense reductions.
Reduced gross debt by $275 million (32%) and net debt by $309 million (41%) since 2023, including a $100 million term loan paydown in December 2025; net leverage now at 2–2.1x.
Adjusted EBITDA improved from negative in 2023 to $183 million in 2024 and is projected at $195–$210 million for 2025, with margin rising from 19% to 33%.
Capital allocation prioritized growth investments, debt repayment, and share repurchases, including a $50 million share repurchase and $30 million bond repurchase program.
Business Segments, Product Portfolio, and Market Leadership
Operates in biodefense (11 products for threats like smallpox, anthrax, botulism, Ebola) and opioid overdose treatment, leading with NARCAN® and KLOXXADO® Nasal Sprays.
Maintains the most diverse global portfolio in medical countermeasures and naloxone, with 25+ years of experience.
Diversified revenue base: 34% of MCM revenue now comes from outside the U.S., up from 15%.
Strong relationships with U.S. and international governments, NGOs, and biopharma innovators support preparedness and product reach.
Streamlined manufacturing to two main hubs in the U.S. and Canada, ensuring supply chain resilience.
Innovation, R&D, and Growth Pipeline
Launched new FDA-approved NARCAN® backpack kit and OTC NARCAN® in a carrying case to improve access, especially for younger populations.
Announced partnerships with RocketVax (rapid vaccine development) and Hikma (higher-dose naloxone, KLOXXADO®); completed RocketVax investment and secured exclusive U.S./Canada rights for KLOXXADO® in 2025.
Advancing clinical trials for TEMBEXA (smallpox and mpox), expanding use of Ebanga (Ebola) and Raxibacumab (anthrax), and focusing on pipeline candidates for pandemic flu.
Investing in sustainable growth through internal R&D, government-funded programs, and selective external partnerships.
Ongoing evaluation of new growth opportunities aligned with internal capabilities and market needs.
Elaborate on 'bolt-on' product strategy for growth
Is 34% ex-U.S. MCM revenue sustainable?
How will NARCAN maintain share vs. generics?
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Next Emergent BioSolutions earnings date
Q4 20255 Mar, 2026
Emergent BioSolutions
Next Emergent BioSolutions earnings date
Q4 20255 Mar, 2026
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Frequently asked questions
Emergent BioSolutions Inc. is a specialty pharmaceutical company that focuses on the development, manufacture and commercialization of vaccines and therapeutics. The Company's products consist of anthrax vaccine (BioThrax (Anthrax Vaccine Adsorbed)), the only Food and Drug Administration (FDA) approved vaccine for the prevention of anthrax infection; other vaccines in development, including Vaxchora for the prevention of cholera; NuThrax for the treatment of anthrax infection in combination with antibiotics; ACAM100, a smallpox vaccine for biodefense use, and AIGIV, a rabies vaccine candidate for pre- and post-exposure prophylaxis.
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