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Emergent BioSolutions inks coronavirus vaccine manufacturing deal with J&J – MarketWatch

Shares of Emergent BioSolutions Inc.
EBS,
+3.55%

were up 1.1% in premarket trading on Monday after it announced a five-year deal with Johnson & Johnson
JNJ,
+1.83%

to manufacture the drug substance for the drugmaker’s still-investigational COVID-19 vaccine. J&J will pay $480 million for two years of Emergent’s contract development and manufacturing services. The two companies had previously announced in April a deal to reserve manufacturing capacity for J&J’s vaccine candidate. Emergent has also announced coronavirus vaccine manufacturing deals with AstraZeneca
AZN,
+0.88%
,
Novavax
NVAX,
-4.10%

and Vaxart Inc.
VXRT,
-8.95%

as part of a new strategy to build out manufacturing capacity for COVID-19 vaccines before they have proven their efficacy or safety. Emergent’s stock has gained 55.8% since the start of the year. The S&P 500
SPX,
+1.50%
,
in comparison, has declined 3.1%.

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