All HHS Contracts — December 26, 2025

Top 3 contracts ($333M obligated) to Deloitte ($116M) and GD IT ($217M combined) via full/open competition provide cost-plus revenue through 2026-27 with 56-59% outlayed.

$178M obligated to Modex ($104M, options to $198M) and Cepheid ($75M, options to $113M) signals government priority for countermeasures, with 25-43% outlayed.

Two CMS awards totaling $217M (56-59% outlayed) reinforce competitive strength in engineering/IT services through potential 2027.

Long performance periods (2026-2030 across 7/8 contracts) expose to funding cuts, audits, or program shifts; subawards average 20-40% of value in top awards.

R&D uncertainties in biotech/influenza contracts ($367M total) with unexercised options ($200M+ potential) tied to technical milestones.

$95M+ in unexercised options across Modex ($95M), Cepheid ($38M), St Jude ($111M), Icahn ($55M) for R&D expansion.

Follow-on potential from CMS integrity ($333M base) and BARDA validation in pandemic prep.

44% of value ($333M) in program integrity modeling/IT to non-small biz leaders via open competition.

24% of value ($178M) via BARDA for COVID/flu countermeasures R&D with long horizons to 2030.

32% of value ($238M) to hospitals/universities for influenza CEIRR, cost-no-fee structure.

{"entity"=>"General Dynamics IT", "reason"=>"$217M CMS exposure (29% of total value) with $124M outlayed and $20M options.", "trigger"=>"Option exercises or 2027 extension announcements"}

{"entity"=>"Modex Therapeutics", "reason"=>"$104M BARDA award (options to $198M) for multispecific antibodies in pandemic prep.", "trigger"=>"Option funding or clinical milestone progress"}

{"entity"=>"Cepheid (Danaher)", "reason"=>"$75M BARDA diagnostics platform with $38M options through potential 2029.", "trigger"=>"Outlay acceleration or extension award"}