Archive for August 2009
BioPort is the only FDA-licensed producer of the anthrax vaccine.
|Fuad El-Hibri, chairman and CEO of Emergent BioSolutions Inc., speaks March 9 in Sage Hall. Kevin Stearns/University Photography|
On March 9, MBA students taking International Political Risk Management, a course taught by Elena Iankova, a lecturer at the S.C. Johnson Graduate School of Management, heard Fuad El-Hibri, chairman and CEO of Bioport’s parent company, Emergent BioSolutions Inc., discuss the hurdles his firm faces in making and marketing its products abroad.
His guest lecture was titled “Managing International Risk in the Bio-Defense and Telecommunications Industries.”
Using his own company as an example, El-Hibri outlined six areas of risk in international business, among them export/import regulations, politics at home and abroad and financial issues. Much of his talk focused on political issues ranging from export regulations to how to deal with foreign governments.
One hurdle: when BioPort sought to export its anthrax vaccine, BioThrax, the U.S. Department of Defense claimed the vaccine was primarily of military importance and should therefore fall under International Traffic in Arms Regulations (ITAR). Under ITAR, export of the vaccine is controlled by the Department of State and a license is required for each sale. BioPort succeeded in arguing that its product was non-military in nature and therefore belonged under Export Administration Regulations (EAR). Exportation under EAR is controlled by the Department of Commerce and has far fewer restrictions.
El-Hibri seemed to take such challenges in stride. “Obviously,” he said, “the U.S. government is interested in vaccines, especially bio-defense vaccines.” It controls which countries vaccines can be exported to and may use them as a bargaining chip in its own deals with foreign ministries of defense, he commented. “They like to throw our vaccine into the mix and say, ‘Listen, if you buy one more tank or one more fighter jet … we’ll throw in 10,000 doses of anthrax vaccine,'” he said. But such giveaways create problems for companies like BioPort by reducing demand for its products in foreign countries.
Some uncontrollable variables that affect the demand for vaccines are: Politics within the foreign country, the country’s relationship with the United States, its finances, its fears about external threats and regional geopolitics, noted El-Hibri.
Posted August 17, 2009on:
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 Chairman and CEO, Mr. Fuad El-Hibri, Named Ernst & Young Entrepreneur of the Year 2009 Award Winner in Greater Washington
Posted August 17, 2009on:
On a business wire press release Emergent biosolutins reports ::
ROCKVILLE, Md. – (Business Wire) Emergent BioSolutions Inc. (NYSE:EBS) announced today that Fuad El-Hibri, its chairman and chief executive officer, received the Ernst & Young Entrepreneur of the Year® 2009 Award in the Technology category in Greater Washington. According to Ernst & Young LLP, the award recognizes outstanding entrepreneurs who are building and leading dynamic, growing businesses. Mr. El-Hibri was selected by an independent panel of judges and the award was presented at a special gala event on June 18 at the Ritz-Carlton, Tysons Corner in Virginia.
“It is a tremendous honor to receive this award considering the many biopharmaceutical and life sciences companies in the greater Washington region,” said Mr. El-Hibri. “I am proud of Emergent BioSolutions’ continuous growth and financial strength. These successes are firmly anchored on the entrepreneurial spirit and commitment of our employees. All their contributions, in pursuit of our company mission to protect life, have made this award possible.”