Archive for the ‘Emergent BioSolutions’ Category
Emergent BioSolutions Recognized as Biotechnology Firm of the Year by Tech Council of MarylandRecognized
Posted May 18, 2010on:
ROCKVILLE, MD, May 13, 2010 – Emergent BioSolutions Inc. (NYSE:EBS) announced today that it has been named Biotechnology Firm of the Year at the Tech Council of Maryland’s (TCM) Annual Tech Awards. This award acknowledges the company that best exemplifies the spirit of Maryland’s biotechnology community as well as its presence and leadership within the state.
“It is an honor to represent Emergent BioSolutions, a company composed of talented and hardworking individuals committed to the corporate mission of protecting life,” said Fuad El-Hibri, chairman and chief executive officer, who received the award on behalf of the company.
For 22 years, TCM has recognized companies that have helped establish Maryland’s thriving technology community. This year’s theme “Building Something Great Together” focuses on the tremendous growth and future outlook for the technology community.
“The theme, ‘Building Something Great Together,’ is meaningful because Emergent’s success is built on teamwork and collaboration,” Mr. El-Hibri continued. “It also acknowledges the role that businesses play in contributing to the State’s economic and job growth. Emergent is proud to be amongst the technology and life sciences companies that have chosen Maryland as its home.”
The criteria for the Biotechnology Firm of the Year Award include: achieving significant and measurable success, contributing to the advancement of biosciences through cutting-edge research and development, crisply executing a growth strategy, and helping foster a vibrant biotech community.
TCM is the largest technology trade group serving the advanced technology and biotechnology communities of Maryland. TCM’s mission is to advocate for the interests of the technology community, further the role of technology in the Maryland economy, and nurture an environment where technology companies can collaborate, grow and succeed.
About Emergent BioSolutions Inc.
Emergent BioSolutions Inc. is a biopharmaceutical company focused on the development, manufacture and commercialization of vaccines and antibody therapeutics that assist the body’s immune system to prevent or treat disease. Emergent’s marketed product, BioThrax® (Anthrax Vaccine Adsorbed), is the only vaccine approved by the U.S. Food and Drug Administration for the prevention of anthrax disease. Emergent’s product pipeline targets infectious diseases and includes programs focused on anthrax, tuberculosis, typhoid, flu and chlamydia. Additional information may be found at www.emergentbiosolutions.com
Emergent BioSolutions Chairman and CEO Fuad El-Hibri Recognized as Outstanding International Business Leader
Posted March 15, 2010on:
ROCKVILLE, Md., Mar 11, 2010 (BUSINESS WIRE) — Emergent BioSolutions Inc. (EBS 15.96, -0.03, -0.19%) announced today that Fuad El-Hibri, its chairman and chief executive officer, has been named by the World Trade Center Institute (WTCI) as one of Maryland’s outstanding international business leaders. Celebrating the spirit of global ambition and excellence in international leadership, WTCI presents the Maryland International Leadership Awards annually to leaders within the state who exemplify entrepreneurial spirit, innovation, and global reach.
Mr. El-Hibri stated, “Across the globe and on a daily basis, the Emergent team lives out the company mission of protecting life – a commitment to make meaningful contributions to address unmet medical needs especially in underserved markets. It is an honor to be recognized for the work that we do and to receive this award on behalf of the team.”
“Mr. El-Hibri recognizes the importance of global markets as key to future growth. WTCI is pleased to showcase Mr. El-Hibri and Emergent BioSolutions’ many achievements and is honored to name him as one of Maryland’s 2010 International Business Leadership Award winners,” said Deborah M. Kielty, president and executive director of the World Trade Center Institute.
WTCI was established in Baltimore in 1989 as a non-profit membership organization to help connect Maryland to the globe. It is the region’s premier private sector international business partner and a member of the World Trade Center Association, a family of 300 centers located in vibrant business communities around the world.
About Emergent BioSolutions Inc.
Emergent BioSolutions Inc. is a biopharmaceutical company focused on the development, manufacture and commercialization of vaccines and therapeutics that assist the body’s immune system to prevent or treat disease. Emergent’s marketed product, BioThrax(R) (Anthrax Vaccine Adsorbed), is the only vaccine approved by the U.S. Food and Drug Administration for the prevention of anthrax infection. Emergent’s product pipeline targets infectious diseases and includes programs focused on anthrax, tuberculosis, typhoid, flu and chlamydia. Additional information may be found at www.emergentbiosolutions.com.
SOURCE: Emergent BioSolutions Inc.
The Prince Alwaleed Bin Talaal Center for Muslim-Christian Understanding and The Royal Islamic Strategic Studies Centre published its first edition in what promises to be an annual series of insight into the movers and shakers of the Muslim world. Entitled The 500 Most Influential Muslims 2009, the book categorizes Muslims’ influential capacities into 15 categories: scholarly , political, administrative, lineage, preachers, women, youth, philanthropy, development, science and technology, arts and culture, Qu’ran reciters, media, radicals, international Islamic networks and issues of the day. As part of an ongoing series each week those receiving mention in North America will be highlighted. This week those who seem to have influence in Science and Technology will be highlighted. In this category, there are four people honored living in the United States.
Mohamad Chakaki is a founding member of Green Muslims, a Washington, D.C. group that seeks to relate sustainable environmental policy to faith. He works on projects in the US and the Middle East.
Fuad El Hibri is the CEO of Emergent BioSolutions, Inc. BioSolutions is a multinational bio-pharmaceutical company that is the sole-holder of the FDA-approved anthrax vaccine. He is also Chairman of the East West Resources Corporation and Chairman and Treasurer of the El Hibri Charitable Foundation.
Dr. Mehmet Oz is a cardiothoracic surgeon recently named one of the sexiest men alive for 2009. A frequent visitor of the Oprah Winfrey show and now host of his own show, he is a professor at Columbia University and leads numerous charities and organizations. He has authored several books on personal health.
Ahmed Zewail is the recipient of the 1999 Nobel Prize in Chemistry for his research on femotochemistry. He is the Linus Pauling Professor at the California Institute for Technology and was recently asked to serve at President Obama’s invitation as an adviser to the Presidential Council of Advisors on Science and Technology.
For more info: IBSN: 2009-9-4078
Awarded the Ernst and Young prize for Entrepreneur of the year 2009 in the Technology category for the Greater Washington region last June, Fuad El-Hibri is the CEO of Emergent Biosolutions, an American company that supplies the anthrax vaccine to the American government. He is in line for the national E&Y 2009 prize, which will be awarded on November 14 in California
He is a tall, imposing and smiling man. He has the assurance of those who are proud of their career and the modesty of those who attribute their success to the staff around them. He has just won the Ernst and Young prize for Entrepreneur of the year 2009 in the Technology category for the Greater Washington region. This prize rewards over 15 years in the biopharmaceutical industry, ten of which have been dedicated to Emergent Biosolutions, the company that supplies the only anthrax vaccine approved by the American government’s powerful Food and Drug Administration (FDA). Fuad El-Hibri landed in biopharmaceuticals somewhat by chance and somewhat by interest. He defines himself as “an entrepreneur in spirit” and, before dedicating himself to biopharmaceuticals, he had already created and sold various telecommunications companies in Russia, Venezuela and El Salvador. In the early 90s, this German native, born to a Lebanese father and a German mother, and who had spent time in the banking industry (Citibank) and consultant (BoozAllen & Hamilton), joins Porton Product, a biotechnology company located in the United Kingdom. There he plays a predominant role in marketing and sales of biodefense vaccines to foreign governments. Hibri is, in particular, a key man behind the purchase by Saudi Arabia of anthrax vaccines during the first Gulf war. This is where he maintains he gained his insight into the magnitude of the need for medical solutions to combat bioterrorism. In 1994, he organized the buy-back of Porton Products by its managers, before reselling his shares in 1996 (the price is not known).
In 1998, an opportunity opened up for him to buy BioThrax in competitive bidding, the only anti-anthrax vaccine approved by the Food and Drug Administration, until then owned by the State of Michigan. So he creates BioPort, obtains American nationality . in 1999, wins the bidding (approximately 24 million dollars) and finds himself at the head of a company with 170 employees, and develops a product: BioThrax.
Hibri has in fact the advantage of a monopoly situation since he is the only supplier of the American government who buys millions of doses of BioThrax per year from him to vaccinate its servicemen and to maintain a stock in case of bioterrorist attack. A situation which fuels all the controversies, as proved by the frenzied comments posted on the Internet.
Once BioPort is consolidated, and to diversify his portfolio, Hibri buys several biotechnology companies. In 2003, BioPort buys Antex, an American company working on the development of a vaccine against chlamydia. In 2005, the company, which in the meantime has become Emergent Biosolutions, acquired Microscience, an English company which had invested in research on hepatitis B and typhoid. In 2006, it purchased VIVACS, a German company specialized in research on the influenza vaccine. In 2008, it does a joint venture with Oxford University (among others) to develop a vaccine against tuberculosis.
Today, Emergent is at the head of a developing portfolio of vaccines and treatments against seven diseases which could bring in “hundreds of millions of dollars per year” when the products are on the market, according to Hibri. Four of these should be on the market within four to seven years. Most of these products have the specific feature of only requiring two technologies that the company has: a technology for vaccines given orally and another for vaccines administered by injection. “Which leads to major synergies enabling substantial cost savings to be made,” explains Hibri. But Emergent is in direct competition with large pharmaceutical laboratories such as Sanofi, Novartis and Roche on the development of these treatments and vaccines, of more commercial use than BioThrax. Furthermore, even with anthrax, Emergent will probably have to face competition from other biotechnology laboratories, like PharmAthene and Cangene, who are currently in the development phase of vaccines and treatment against the bacterium. In the meantime, to meet increasing demand from the American government, and that of other foreign governments who fill out its client portfolio, Emergent has recently invested in its BioThrax production capacity: it has gone from a capacity of three million doses per year to eight million and is currently validating a new factory in Michigan which can produce up to 40 million doses per year.
Today, eleven years after acquiring BioThrax, the latter, still provides the bulk of the company’s turnover (178.6 million dollars in 2008), the other part coming from development contracts with the government and revenue granted by public or private funds.
Anthrax is an infectious disease caused by the spore-forming bacterium Bacillus anthracis.
Anthrax most commonly occurs in wild and domestic animals but it can also occur in humans when they are exposed to infected animals or tissue from infected animals.
The disease is transmitted by spores, or contaminated hide, but not from human to human. Cultivation of the bacterium and spores are relatively easy in a laboratory, which makes it an ideal biological weapon.
The company has 600 employees and has been quoted on the New York stock exchange since 2006, with a capitalization of 500 million dollars. Hibri, his family and his management staff keep control of the company with over half of the capital. Emergent has a presence in the United States, United Kingdom, Singapore, China and Germany. And for seven years, between 2000 and 2007, it has experienced uninterrupted growth.
This is partially why the E&Y prize was awarded to Hibri. Other criteria were also taken into account: his ability to inspire his staff, who, he himself acknowledges are “dedicated and motivated”; and his philanthropic involvement in numerous charity organizations, among which the El-Hibri Charitable Foundation, created by his father, that among other things finances the Dar Al-Aytam orphanage in Lebanon.
Posted October 15, 2009on:
By Nihad Tobalian
Lebanese businessman Fuad El-Hibri is the “Entrepreneur of the Year for 2009” for the Washington, DC area, and earned this award from Ernst & Young’s Global Technology Group, which is given to honor businessmen who lead nascent companies to growth in their specialized area of work. He earned this award for leading his American company, “Emergent BioSolutions,” which he transformed from a stumbling company into a pioneer company in the field of development of medical vaccines. What are the details of this award, and the types of vaccines that the 51-year-old El-Hibri has developed?
During a meeting with Anwar, businessman Fuad El-Hibri, who spends his annual vacation in Lebanon, said:
From this award, “Ernst & Young” is seeking major companies that apply quality standards of work and production and the ability to develop new products, against the contribution of these companies in the development and preservation of the community. What helped us as “Emergent BioSolutions” to win this award, specifically for the category of technology in the Washington metropolitan area, is our adherence to the requirement of the award, especially after the recent acquisition of the company, which was for sale for approximately $25 million, and which has 170 employees. Through expansion and development strategy, the price of the company rose to between 400 and 500 million dollars, according to the New York Stock Exchange, as the price per share has risen from six dollars ten years ago to 26 dollars, in addition to increasing the number of employees to 600 employees, which helped us to increase the volume of our business, especially since our approved strategy was also based on a policy of expansion through the acquisition of three money losing companies in the United States, Britain and Germany.
“Ernst & Young,” explains businessman Fuad El-Hibri, “is a global financial company that exercises financial control over companies, and honors those who achieve their aspirations and consequently, their achievements in the creative and innovative areas in the field of technology. After that, a panel of judges selects a ‘Leading Businessman.’ Ernst &Young selected me as the pioneer businessman for 2009 in the field of technology, in my capacity as owner of the company ‘Emergent BioSolutions.’ And while I am proud of the award, I am also proud of every employee in the company, because they all, in addition to being loyal to the company, believe in what we do, and devote themselves to work, especially since the scope of our work requires protecting human life. It is true that the company has a business face, but the primary nature of our work is to protect human life through the development of vaccines that will provide them with immunity against disease. The motto with which we operate the commercial side does not negate the human aspect.”
● You spoke about the specialized vaccines that the company you own develop. What are these vaccines? And against which diseases do they work?
– We are currently working on the development of several new vaccines, including a vaccine for tuberculosis. We, in this regard, are working to develop a special vaccine for this disease, and I can say we are in the advanced stages of testing which we have conducted in South Africa, as we are in the second stage, Phase b, results of which have been encouraging. After two years of testing this vaccine on a sample of children to determine its potency, we have reached the stage of measuring the potency and immunity of the vaccine. If the tests are successful tests, then we will move on to Phase III of the trials to expand the tests to include the category of adults who provide material support for the companies developing the typhoid vaccine. We also receive support from the “Wellcome Trust,” while our partner in these trials is the University of Oxford in the United Kingdom.
The second vaccine—according to El-Hibri—is related to hepatitis B, which would, if successfully tested, provide immunity for patients with this disease. It would also provide a treatment for the chronic diseases resulting from hepatitis B. Businessman Fuad El-Hibri explains, “Patients who suffer from this disease often experience hepatitis B turning into a chronic disease, which may lead, in advanced stages, to liver cancer or liver failure for good. The vaccine, which we are currently developing, helps the patient’s body to protect itself against the disease in terms of reducing and limiting the progress of the disease and limiting its spread in the body. If I were to be optimistic, I would say that this vaccine could eliminate the disease completely, but today, I would say that if we were able to alleviate the pressure of this disease on the patient’s body, then we would have achieved a great result in this area, namely the prevention of the deterioration of the patient’s health. With respect to this vaccine, we have reached the second phase of testing which was conducted on a sample of citizens in China.
A New Medical Development
● What about the work on a vaccine for cancer, for which effective medical treatments have not been found?
– We are working on a number of vaccines for multiple diseases, including for example, work on the development of a vaccine to increase the effectiveness of an old vaccine. For example, there is an effective vaccine for typhoid, but we are working to develop a single dose vaccine, to be administered orally, not with a needle. As for internal diseases, such as internal inflammations for example, we have two technical working groups at the company studying the possibility of trying to find volunteers to receive these vaccines. However, I think it is premature to talk about this vaccine, because we are still in the early stages of the work, and specifically, we are still at the exploration stage. However, in this connection, if we were to look at this issue from a scientific point of view, vaccines are the most advanced in the pharmaceutical industry. Biological studies have shown that vaccines, and immunity enhancement and vaccination are more mature in biological research than they are in the pharmaceutical industry.
● Those who are familiar with your curriculum vitae will find that you specialize in economics. What led you to work in the medical treatment field?
– By nature, I love to work on the development of medical treatments. True, I specialized in economics, where I got a diploma from Stanford University and then an advanced degree in business from Yale University, then worked as head of the Operations Department at Citibank Group and then in Hamilton, and both were of consulting nature that encompass different industries, from the financial industry to beverages to research management. After that, I moved to work for consulting firm Booz Allen Hamilton, but above all I love to work on the development of medical treatments, even though I do not have any scientific background in the field of medicine. However, the nature of my work in these institutions and companies helped me to get into this area. In addition, I was lucky to have a wonderful team that helped me and taught me, because the working group has a scientific background and its members are dreamers like me. They have taught me and helped me to penetrate this field.
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.