Vaccine Maker Earned Record Profits But Delivered Disappointment in Return

June 16, 2021

(New York Times) – Record profits warranted record bonuses. That was the recommendation in January by executives at the biotech firm Emergent BioSolutions. The board of directors agreed, signing off on nearly $8 million in cash and stock awards for five company leaders. The bonuses arrived this spring even as Congress was investigating the company’s production of Covid-19 vaccines in Baltimore, where manufacturing mistakes have rendered 75 million doses unusable and forced a two-month-long shutdown of operations. Emergent has nonetheless enjoyed the best financial year in its two-decade history, thanks largely to the government’s largess and decision to sidestep the usual contracting rules, interviews and previously undisclosed documents show. (Read Full Article)