On October 2, 2017, pursuant to the Asset Purchase Agreement, dated as of July 19, 2017 (the "Agreement"), by and among Emergent BioSolutions Inc., Human Genome Sciences, Inc. ("HGS"), and GlaxoSmithKline LLC ("GSK" and, collectively with HGS, the "Seller"), Emergent completed the previously announced acquisition of certain assets and liabilities of Seller relating to Seller's raxibacumab product. At the closing, Emergent paid $76 million in cash for the assets, and the Agreement includes potential milestone payments of up to $20 million in the aggregate, tied to the achievement of certain product sale and manufacturing-related events.

Emergent acquired, among other assets, raxibacumab, including corresponding product rights, regulatory approvals and intellectual property rights. Emergent plans to assume an existing multi-year contract with the Biomedical Advanced Research and Development Authority for the purchase and delivery of raxibacumab to the Strategic National Stockpile.

The completion of the acquisition follows the satisfaction or waiver by the parties, as applicable, of all closing conditions, including expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

Additional information and details regarding the Agreement and the acquisition were previously disclosed in Item 1.01 of Emergent's Form 8-K filed on July 25, 2017, which is incorporated by reference into this Item 2.01. The foregoing description of the terms and conditions of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, which is filed herewith as Exhibit 2 and incorporated herein by reference.

The Agreement is not intended to provide any other factual information about Emergent or Seller.  In particular, the assertions embodied in the representations and warranties contained in the Agreement were qualified by information in the disclosure schedules provided by Seller to Emergent in connection with the signing of the Agreement or in filings of the parties with the Securities and Exchange Commission. These confidential disclosure schedules contain information that modifies, qualifies and creates exceptions to the representations and warranties and certain covenants set forth in the Agreement. Moreover, certain representations, warranties and covenants in the Agreement were used for the purposes of allocating risk between Emergent and the Seller rather than establishing matters of fact or reflecting what investors may view as material. Accordingly, the representations and warranties and covenants in the Agreement or any descriptions thereof should not be relied on as a characterization of the actual state of facts about Emergent or Seller or their respective subsidiaries or affiliates. Additionally, the representations, warranties, covenants, conditions and other terms of the Agreement were made subject to subsequent waiver or modification. Moreover, information concerning the subject matter of the representations and warranties and covenants in the agreement may have changed after the date of the agreement, which subsequent information may or may not be fully reflected in Emergent's or the Seller's public disclosures.

On October 3, 2017, Emergent issued a press release announcing completion of the acquisition, which is filed as Exhibit 99 hereto.