Emergent BioSolutions (EBS) Q2 FY26 earnings call

Emergent BioSolutions delivered strong Q2 FY26 results, exceeding revenue and adjusted EBITDA expectations, primarily driven by accelerated Medical Countermeasures (MCM) deliveries and contract awards. However, the company faces significant headwinds in its naloxone business due to increased competition and pricing pressure, leading to a downward revision of full-year revenue and profitability guidance. Management is implementing restructuring actions to improve cost structure and is reorienting R&D and business development to focus on high-return opportunities and address evolving public heal