Emergent BioSolutions Statement on U.S. District Court Decision

Rhea-AI Summary

The U.S. District Court for the District of New Jersey ruled in favor of Teva Pharmaceuticals in the patent litigation concerning NARCAN® Nasal Spray 4mg/spray. Emergent BioSolutions plans to appeal the decision to the Court of Appeals for the Federal Circuit. Doug White, a senior executive at Emergent, expressed disappointment but reaffirmed the company’s commitment to improve access to NARCAN® and aid in combating the opioid crisis. Emergent will update its 2020 financial outlook related to this case and its COVID-19 initiatives during the second quarter financial results announcement.

Positive

• Commitment to expanding access to NARCAN® Nasal Spray.
• Plans to appeal the court decision may provide a pathway to uphold patent rights.

Negative

• Court ruling against Emergent BioSolutions in patent litigation.
• Potential impact on financial outlook due to ongoing litigation and market access challenges.

GAITHERSBURG, Md., June 05, 2020 (GLOBE NEWSWIRE) -- Today, the U.S. District Court for the District of New Jersey entered a decision in the patent litigation regarding NARCAN^® (naloxone HCl) Nasal Spray 4mg/spray product. The Court ruled in favor of the Defendants, Teva Pharmaceuticals Industries Ltd. Emergent intends to appeal the decision to the Court of Appeals for the Federal Circuit.

“We are understandably disappointed by the decision today,” said Doug White, senior vice president and devices business unit head at Emergent BioSolutions. “We remain committed to expanding awareness, maintaining affordability, and increasing access to NARCAN^® Nasal Spray, to improving public health, and to assisting those dedicated to ending the opioid crisis.”

Financial Considerations
The company will provide an update to its 2020 financial outlook incorporating expectations related to this litigation, efforts to develop and manufacture COVID-19 vaccines and therapeutics, and any other relevant information when it reports its second quarter financial results.

About Emergent BioSolutions
Emergent BioSolutions is a global life sciences company whose mission is to protect and enhance life. Through our specialty products and contract development and manufacturing services, we are dedicated to providing solutions that address public health threats. Through social responsibility, we aim to build healthier and safer communities. We aspire to deliver peace of mind to our patients and customers so they can focus on what’s most important in their lives. In working together, we envision protecting or enhancing 1 billion lives by 2030. For more information visit www.emergentbiosolutions.com. Find us on LinkedIn and follow us on Twitter @emergentbiosolu and Instagram @life_at_emergent.

Investor Contact:
Robert G. Burrows
Vice President, Investor Relations
240-631-3280
burrowsr@ebsi.com 

Media Contact:
Miko B. Neri
Senior Director, Corporate Communications
240-631-3392
nerim@ebsi.com 

FAQ

What was the recent court decision regarding NARCAN® related to EBS?

The court ruled in favor of Teva Pharmaceuticals in the patent litigation for NARCAN® Nasal Spray.

What is Emergent BioSolutions' plan after the court ruling on NARCAN®?

Emergent BioSolutions intends to appeal the decision to the Court of Appeals for the Federal Circuit.

How will the court ruling affect Emergent BioSolutions' financial outlook?

Emergent plans to update its 2020 financial outlook considering this litigation during its second quarter financial results.

Who is responsible for communications regarding the court case at Emergent BioSolutions?

Miko B. Neri is the Senior Director of Corporate Communications at Emergent.

What impact does the NARCAN® litigation have on Emergent BioSolutions' mission?

The litigation could affect access to NARCAN®, which is crucial in the company's mission to combat public health threats.