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Emergent BioSolutions closes $270M PaxVax acquisition

Emergent BioSolutions Inc. completed its acquisition of PaxVax Corp., a specialty vaccines developer.

The Gaithersburg, Md.-based biotech acquired PaxVax for about $270 million, using cash-on-hand and borrowings under its existing credit facility.

Under the deal, Emergent BioSolutions acquired two marketed vaccines — Vivotif for typhoid fever and Vaxchora for cholera.

Emergent BioSolutions said the acquisition broadens its development pipeline and sales capabilities.