Anthrax Vaccine

U.S. Health & Human Services cancels VaxGen's anthrax vaccine contract

Published in Health Business Week, January 19th, 2007

VaxGen, Inc., (VXGN.PK) announced that the U.S. Department of Health & Human Services (HHS) has terminated for default the company's contract to provide 75 million doses of a modern anthrax vaccine for civilian biodefense.

HHS based the decision on its determination that VaxGen "failed to successfully cure the condition endangering performance and failed to" meet a milestone imposed by HHS that required VaxGen to initiate a clinical trial of the vaccine candidate by December 18, 2006.

Under the terms of the contract, and as is typical in government contracting, HHS reserved its right to hold VaxGen liable for any excess costs of procuring an anthrax...

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Source: Health Business Week (2007-01-19)

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