GAITHERSBURG, Md., July 15, 2016 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE:EBS) today announced that its Board of Directors has authorized the company’s management to implement a stock repurchase program for up to $50 million of the company's common stock from time to time on the open market or in privately negotiated transactions.

“The company’s board and management believe that Emergent’s stock price does not reflect what we consider are the fundamentals of our company’s value,” said Daniel J. Abdun-Nabi, president and chief executive officer of Emergent BioSolutions. “This $50 million stock repurchase program is an opportunity to potentially create long-term shareholder value while maintaining our financial flexibility to invest in our business and to continue to pursue our acquisition strategy.”

The timing, amount, and price of any repurchases will be made pursuant to one or more 10b5-1 plans. The term of the board authorization of the repurchase program is until December 31, 2017. The plan will permit shares to be repurchased when the company might otherwise be precluded from doing so under insider trading laws. The repurchase program may be suspended or discontinued at any time. Any repurchased shares will be available for use in connection with the company's stock plans and for other corporate purposes.

The repurchase program will be funded using the company's working capital. As of March 31, 2016, the company had cash and cash equivalents of approximately $341 million. The company had approximately 39.8 million shares of common stock outstanding as of March 31, 2016.

About Emergent BioSolutions

Emergent BioSolutions is a global specialty biopharmaceutical company dedicated to one simple mission—to protect and enhance life. We develop, manufacture, and deliver a portfolio of medical countermeasures for biological and chemical threats as well as emerging infectious diseases. We also develop and commercialize therapeutics and other specialty products for hospitals and clinics in the areas of hematology/oncology, transplantation, infectious diseases and autoimmune disorders. Through our work, we envision protecting and enhancing 50 million lives with our products by 2025. Additional information about the company may be found at www.emergentbiosolutions.com. Follow us @emergentbiosolu.