Emergent BioSolutions Buys Canadian Pharmaceutical Company

By: News 10
By: News 10

Emergent BioSolutions, which makes the anthrax vaccine, is buying a company that makes drugs to treat anthrax exposure.

Emergent bought out Canadian pharmaceutical company Cangene Corp. for $222 million.

It adds 400 employees who will continue to work in Winnipeg.

"This acquisition solidifies our position in bio-defense, expands on our manufacturing, and builds a strong foundation for our pharmaceutical business," said Emergent BioSolutions' Adam Havey.

The deal still needs to be approved by both the U.S. and Canadian governments. It is expected to close early next year.

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