Emergent BioSolutions, Inc. provided earnings guidance for 2012 and 2013. For 2012, the company anticipates total revenues of $280 to $284 million, which includes approximately $216 million of product sales and $64 to $68 million of contracts and grants revenue. The company also anticipates 2012 net income of $21 million to $24 million, which includes a one-time, non-cash charge of $9.6 million related to impairment of in-process research and development associated with the SBI-087 product candidate, which was being developed by Pfizer; the impairment charge was incurred in the first quarter of 2012. Product revenues for 2012 are primarily attributable to delivery of approximately 8.1 million doses of BioThrax(R) (Anthrax Vaccine Adsorbed) to CDC during the year. Contracts and grants revenue for 2012 is primarily attributable to revenues from its contracts with BARDA for large-scale manufacturing of BioThrax and for development of PreviThrax(TM) (Recombinant Protective Antigen Anthrax Vaccine, Purified).

For 2013, the company forecasts total revenues of $290 to $310 million, split between product sales of $230 to $240 million and contracts and grants revenue of $60 to $70 million. The company also forecasts 2013 net income of $20 to $30 million. The 2013 forecast does not reflect the impact of a possible M&A transaction.