Fuad El-Hibri Blog
Emergent BioSolutions Inc. (EBS) CEO & Chairman, 10% Owner Fuad El-hibri sells 15,000 Shares
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CEO & Chairman, 10% Owner of Emergent BioSolutions Inc. (EBS) Fuad El-hibri sells 15,000 shares of EBS on 08/11/2009 at an average price of $16.78 a share.
EMERGENT BIOSULUTIONS INC. is a leading biopharmaceutical company dedicated to one simple mission – to protect life. EBS develops manufactures and commercializes vaccines and therapeutics that assist the body\’s immune system to prevent or treat disease. Their products target infectious diseases and other medical conditions that have resulted in significant unmet or underserved public health needs. Their marketed product BioThrax? (Anthrax Vaccine Adsorbed) is the only vaccine approved by the U.S. Food and Drug Administration for the prevention of anthrax infection. Emergent BioSolutions Inc. has a market cap of $511.8 million; its shares were traded at around $16.91 with a P/E ratio of 13.1 and P/S ratio of 2.8.
Emergent BioSolutions Inc., Q2 2009 Earnings Call Transcript
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Emergent BioSolutions Inc., (EBS)
Q2 2009 Earnings Call
August 6, 2009 5:00 pm ET
Executives
Robert G. Burrows – Vice President, Investor Relations
Fuad El-Hibri - Chairman of the Board, Chief Executive Officer
R. Don Elsey – Chief Financial Officer
Daniel J. Abdun-Nabi – President, Chief Operating Officer
W. James Jackson, Ph.D. – Senior Vice President and Chief Scientific Officer
Analysts
Eric Schmidt – Cowen & Company
David Moskowitz – Caris & Company
Mona Ashiya – J.P. Morgan
Sean Long – Kennedy Capital Management
Presentation
Operator
Welcome to the Emergent BioSolutions Incorporated second quarter 2009 financial results conference call. (Operator Instructions) I would now like to turn the call over to Mr. Robert Burrows.
Robert Burrows
Good afternoon ladies and gentlemen. My name is Robert Burrows, Vice President of Investor Relations for Emergent. Thank you for joining us today as we discuss Emergent BioSolutions financial results for the second quarter and first six months of 2009. As is customary, our call today is open to all participants. In addition, the call is being recorded and is copyrighted by Emergent BioSolutions.
Joining me on the call this afternoon will be Fuad El-Hibri, Chairman and Chief Executive Officer, and Don Elsey, Chief Financial Officer. Additional members of our senior management team will be present on the call for purposes of the Q&A session.
Before we begin, however, I am compelled to remind everyone that during the all management may make projections and other forward-looking statements regarding future events and the company’s prospects or future performance. These forward-looking statements reflect Emergent’s current perspective on existing trends and information. Any such forward-looking statements are not guarantees of future performance and involve substantial risks and uncertainties. Actual results may differ materially from those projected in any forward-looking statements.
You are encouraged to review Emergent’s filings with the SEC on Forms 10-K, 10-Q, and 8-K for more information on the risks and uncertainties that could cause actual results to differ.
For the benefit of those who may be listening to the replay, this call is held and recorded on August 6, 2009. Since then Emergent may have made announcements relating to topics discussed during today’s call, so again, please reference our most recent press releases and SEC filings.
Emergent BioSolutions assumes no obligation to update the information in today’s press release or as presented on this call except as maybe required by applicable laws or regulations. Today’s press release may be found on our website at www.emergentbiosolutions.com under Investors/Press Release.
With that brief introduction, I would now like to turn the call over to Fuad El-Hibri, Emergent’s Chairman and CEO.
Fuad El-Hibri
Good afternoon ladies and gentlemen. We appreciate your participation on this call. Today, we announced two important items. First, we reported financial results for the second quarter and first 6 months of 2009. Let me tell you that I’m very pleased with Emergent’s overall performance year to date. We have delivered strong sales and earnings results while we continue to invest in our product pipeline. We remain on the path to achieving our financial and product development goals for the year.
Second, we announced a series of real estate transactions that expand our manufacturing and development infrastructure. In addition the strategic implication, these transactions should reduce our total debt and annual interest and operating expenses. In addition, I would like to provide a brief update on selected aspects of our business.
Tags: Chief executive officer, Emergent BioSolutions, Fuad El-Hibri, Shareholders, U.S. Food and Drug Administration, United States, Vice president
Digg Fuad El-Hibri Wiki
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Emergent looks to buy Maryland lab
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Emergent BioSolutions Inc. hopes to ramp up production of its anthrax vaccine in Lansing
The Rockville, Md.-based company said Thursday it plans to sell two unused buildings and purchase a manufacturing facility and laboratory in Maryland.
The pending moves could free up space in Lansing for additional production of BioThrax, the only federally approved anthrax vaccine.
“From a strategic perspective, the new Maryland manufacturing facility broadens our options,” CEO Fuad El-Hibri said. Terms of the deals were not disclosed.
Nearly 400 employees work for Emergent in Lansing. About 30 have been hired since the company announced plans to add up to 93 new hires as part of an expansion announced in March that included state tax incentives.
Emergent hopes to ramp up the nation’s stockpile of doses for use in case of a biological terrorist attack.
“The government has previously stated they want a stockpile of at least 75 million doses. Our calculations would show the stockpile is way short of that,” Chief Financial Officer Don Elsey said.
He wouldn’t provide details on the stockpile’s shortfall, but said the Department of Defense also draws from the supply.
Emergent currently makes the anthrax vaccine in a Lansing facility with a capacity for roughly 7 million doses a year, Elsey said.
In September, the company will start producing 14.5 million doses as part of a $405 million government contract for the national drug stockpile. It will take two years to complete the contract.
A new $75 million large-scale manufacturing plant in Lansing could handle an additional 30 million doses a year.
The building, completed last year, originally was slated to produce the next-generation anthrax vaccine once it received government approval. But Emergent now is proposing production of the new vaccine be moved to the new Maryland facility, allowing Lansing to make more BioThrax – something that also needs a government OK.
“We have shared with the government our thoughts on this and the new capabilities that this will bring and they are considering it,” Elsey said. “It’s definitely not something that’s firm yet.”
Fuad El-Hibri – Yale health care Advisory Board
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Fuad El-Hibri, MBA
Chief Executive Officer and Chairman of the Board of Directors
Emergent Biosolutions, Inc.
Yale School of Management
Mr. El-Hibri has served as chief executive officer and chairman of the board of directors of Emergent Biosolutions Inc., since June 2004 and as president from March 2006 to April 2007. Mr. El-Hibri served as chief executive officer and chairman of the board of directors of BioPort Corporation from May 1998 until June 2004, when, as a result of corporate reorganization, BioPort became a wholly owned subsidiary of Emergent. Mr. El-Hibri served as chairman of Digicel Holdings, Ltd., a privately held telecommunications firm, from August 2000 to October 2006. He served as president of Digicel from August 2000 to February 2005. Mr. El-Hibri has served as chairman of East West Resources Corporation, a venture capital and financial consulting firm, since June 1990. He served as president of East West Resources from September 1990 to January 2004. Mr. El-Hibri is a member of the board of trustees of American University and a member of the board of directors of the International Biomedical Research Alliance, an academic joint venture among the NIH, Oxford University and Cambridge University. He also serves as chairman and treasurer of El-Hibri Charitable Foundation. Mr. El-Hibri received a master’s degree in public and private management from Yale University and a B.A. in economics from Stanford University.Life Science Alliances World – Speaker
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Mr Fuad El-Hibri,
Chief Executive Officer and Chairman, 
Emergent BioSolutions Inc.
Mr. El-Hibri has served as chief executive officer and as chairman of the board of directors of Emergent BioSolutions since June 2004 and as president since March 2006. Mr. El-Hibri served as chief executive officer and chairman of the board of directors of BioPort Corporation from May 1998 until June 2004, when, as a result of a corporate reorganization, BioPort became a wholly owned subsidiary of Emergent. The Company subsequently renamed BioPort as Emergent BioDefense Operations Lansing Inc. Mr. El-Hibri served as chairman of Digicel Holdings, Ltd., a privately held telecommunications firm, from August 2000 to October 2006. He served as president of Digicel from August 2000 to February 2005. Mr. El-Hibri has served as chairman of East West Resources Corporation, a venture capital and financial consulting firm, since June 1990. He served as president of East West Resources from September 1990 to January 2004. Mr. El-Hibri is a member of the board of trustees of American University and a member of the board of directors of the International Biomedical Research Alliance, an academic joint venture among the NIH, Oxford University and Cambridge University. He also serves as chairman and treasurer of El-Hibri Charitable Foundation. Mr. El-Hibri received a master’s degree in public and private management from Yale University and a B.A. in economics from Stanford University.
Tags: Chief executive officer, Chief financial officer, Company, Emergent BioSolutions, Entrepreneur, Fuad El-Hibri, U.S. Food and Drug Administration, United States, United States Department of Health and Human Services
Fuad El-Hibri on Netlog
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Fuad El-Hibri
Chairman of the Board of Directors and Chief Executive Officer
Emergent BioSolutions Inc.
Professional Background
Mr. Fuad El-Hibri is the Chairman and Chief Executive Officer of Emergent BioSolutions Inc. (Emergent), a publicly traded biopharmaceutical company focused on developing, manufacturing and commercializing vaccines and therapeutics to prevent and treat life-threatening diseases. The company’s current marketed product, BioThrax® (Anthrax Vaccine Adsorbed), is the only FDA-licensed vaccine for pre-exposure prophylaxis of anthrax disease. The company is also investing heavily in the development of a broad pipeline of products that address specific global unmet medical needs, including Typhoid, Tuberculosis, Hepatitis B and Chlamydia.
Mr. El-Hibri has extensive experience in the biopharmaceutical industry beginning with Porton Products, Ltd. (Porton), a mid-sized biotechnology company in the United Kingdom. Subsequent to the successful marketing and …
