Emergent BioSolutions is mobilizing its M&A war chest again. Hard on the heels of its $270 million deal for vaccine expert PaxVax, the frequent government contractor is buying Adapt Pharma and its opioid overdose-reversing drug Narcan.
The Maryland-based firm is paying $635 million upfront and up to $100 million for potential sales-based milestones through 2022. Narcan, the only FDA-approved nasal spray of naloxone, has been on the market since 2016. Emergent estimates the drug will contribute $200 million to $220 million to the company’s top line in 2019. In addition to Narcan and an opioid overdose-focused pipeline, about 50 Adapt employees will come aboard Emergent.