Exhibit 12

		Year Ended December 31,
(in thousands, except share and per share data)		2011				2010				2009				2008				2007
Statements of operations data:
Revenues:
Product sales		$	202,409			$	251,381			$	217,172			$	169,124			$	169,799
Contracts and grants			70,975				34,790				17,614				9,430				13,116
Total revenues			273,384				286,171				234,786				178,554				182,915
Operating expenses:
Cost of product sales			42,171				47,114				46,262				34,081				40,309
Research and development			124,832				89,295				74,588				59,470				53,958
Selling, general & administrative			74,282				76,205				73,786				55,076				55,555
Total operating expenses			241,285				212,614				194,636				148,627				149,822
Income from operations			32,099				73,557				40,150				29,927				33,093
Other income (expense):
Interest income			105				832				1,418				1,999				2,809
Interest expense			—				—				(7	)			(47	)			(71	)
Other income (expense), net			(261	)			(1,023	)			(50	)			134				156
Total other income (expense)			(156	)			(191	)			1,361				2,086				2,894
Income before provision for income taxes			31,943				73,366				41,511				32,013				35,987
Provision for income taxes			15,830				26,182				14,966				12,055				13,051
Net income		$	16,113			$	47,184			$	26,545			$	19,958			$	22,936
Net loss attributable to noncontrolling interest			6,906				4,514				4,599				724				—
Net income attributable to Emergent BioSolutions Inc.		$	23,019			$	51,698			$	31,144			$	20,682			$	22,936
Pretax income from continuing operations			38,849				77,880				46,110				32,737				35,987
Interest Capitalized			1,713				1,796				1,790				3,023				3,108
Interest on Debt			1,713				1,796				1,790				3,023				3,108
Debt issuance cost			83				98				132				54				39
Noncontrolling interest in pretax income			6,906				4,514				4,599				724				—
Earnings			32,026				73,464				41,643				32,067				36,026
Fixed charges			1,796				1,894				1,922				3,077				3,147
Ratio of earnings to fixed charges			17.8				38.8				21.7				10.4				11.4