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Financial Report: Emergent BioSolutions

August 8, 2014

Cangene ops boost revenue in the quarter

Emergent BioSolutions

2Q Revenues: $110.3 million (+34%)

2Q Earnings: $5.0 million (+51%)

YTD Revenues: $164.2 million (+31%)

YTD Loss: $15.2 million (earnings were $2.4 million YTD13)

Comments: This was the first full quarter of combined operations with Cangene.Product sales were $78.3 million, up 19%. Revenue from BioThrax was $67.5 million in the quarter, up 3%. Contract manufacturing revenue was $9.2 million in the quarter. R&D expenses were $37.4 million, up 23% primarily due to higher contract service costs, and includes increased technology and development expenses in both the Biodefense and Biosciences divisions.