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Emergent BioSolutions Inc. (NYSE: EBS) announced today a growth plan designed to advance the company’s leadership position in the biodefense field and expand its product offerings in specialty pharma markets, thereby expanding revenues, growing net income and creating shareholder value. Under the plan, the company has established the following key financial and operational goals to be achieved by year end 2015:
Generate annual product revenue of greater than $500 million;
Achieve a three-year (2012-2015) compound net income growth rate of greater than 15%; and
Secure diversified revenues from at least three marketed specialty products.
Daniel J. Abdun-Nabi, president and chief executive officer of Emergent BioSolutions, said, “Since becoming CEO of Emergent in April this year, my team and I have developed a growth plan in support of our vision of offering specialized products to healthcare providers and governments to address medical needs and emerging health threats. This plan establishes the key drivers for how we intend to pursue growth and clearly defines our vision of our mid-term goals and the overall future direction of the company.”
The core competencies that the company intends to build upon to support and enable achievement of the growth plan include:
The company’s recognized leadership position in the biodefense field, which can be leveraged to advance its existing pipeline and to acquire new products for this specialty market;
The company’s breadth and depth of resources and expertise in biologics manufacturing and advanced-stage product development;
The company’s expertise and capabilities in government and NGO contracting and partnering; and
The company’s experience and expertise in structuring and closing acquisition transactions.
The company will leverage these core competencies as it executes on the following core strategy: