Emergent BioSolutions stock pulls back, after rallying last week in wake of Biden administration's endorsement of overdose medications

Shares of Emergent BioSolutions Inc. (EBS) slumped 2.8% in afternoon trading Tuesday, after surging more than 11% over the past two sessions, including Friday's 8.3% rally. The rally to end last week came in the wake of an announcement by the Biden administration that overdose reversal medications like naloxone, also known has Narcan, will be made available at safety stations in federal facilities. The administration also indicated that the medications should be as available everywhere. "These lifesaving medications should be as readily available as fire extinguishers or defibrillators in all public spaces, from schools, to housing communities, to restaurants, retail, and other businesses," said White House Office of National Drug Control Policy Director Dr. Rahul Gupta. Emergent's stock has tumbled 26.3% over the past three months, while the S&P 500 has gained 11.7%.

-Tomi Kilgore

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12-26-23 1355ET

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