Shares of Emergent BioSolutions (NYSE: EBS) soared by more than 10% in pre-market trading on Wednesday after the specialty biopharmaceutical company announced that it would sell its travel health business to Bavarian Nordic (BVNRY) for a total value of up to $380 million, including potential future milestone payments.
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As a part of this agreement, Bavarian Nordic will also acquire the rights to Vivotif and Vaxchora, both indicated for the active immunization of typhoid fever and cholera, respectively, and the rights to a development-stage chikungunya vaccine candidate CHIKV VLP. The company has also acquired Emergent’s manufacturing site in Bern, Switzerland, and development facilities in San Diego, California.
EBS stock has not fared well in the past year, tanking by more than 70%.
