The July 6 NYT updated us on shareholder lawsuits against Emergent BioSolutions (EBS), including the lucrative stock trades of Board chair and founder el Hibri ($42 million recently), President Kramer ($10 million) and even board member Louis Sullivan MD, the first black DHHS Secretary, under Bush #1 ($3 million in trades).
The Biden administration just exercised a contract to buy another $182 Million dollars’ worth of smallpox vaccine for the civilian stockpile from EBS. Despite their horrendous track record for manufacturing vaccines.
But I must remind readers, the USG had a huge old smallpox vaccine stockpile it destroyed (supposedly to save money on electricity) shortly before 2001. Then the Bush #2 administration bought a shot for every American. Old vaccine has been shown to retain activity for many years.
One wonders how much “lobbying” this smallpox vaccine contract cost EBS. Because it seems this vaccine purchase, by a Democratic administration, will probably stop Democratic Government Reform House members from pursuing their vendetta against the company. Their arrows were focused on crony contracts (especially with Trump’s Assistant Secretary for Prevention and Response). Investigating Members promised another hearing on EBS, awaiting the documents EBS had so far failed to provide. But now that Biden’s Assistant Secretary for Prevention and Response has ALSO bought smallpox vaccine from EBS, perhaps there won’t be another hearing.
EBS is an equal opportunity buyer. They buy both sides of the aisle.
But there is even more cringe-worthy material. Vaccine is being shipped, even though it is adulterated. That is what can be done under an EUA: waive the requirement for manufacturing approval. Read it and weep: “No corners were cut.” Ho Ho Ho.
The agency has since allowed about 40 million Johnson & Johnson doses manufactured at the factory to be distributed for use — but with a warning that regulators couldn’t guarantee that Emergent had followed good manufacturing practices. Even with the latest batch cleared for release on Friday, Johnson & Johnson remains nearly 40 million doses short of the 100 million doses called for in its federal contract.
Here are some of my recent posts on this company, including discussion of 2 Congressional hearings that talked about EBS.