Emergent BioSolutions Completes Sale of Manufacturing Facility
Emergent BioSolutions Inc. (NYSE: EBS) has officially completed the sale of its drug product facility to an affiliate of Bora Pharmaceuticals Co., Ltd. At the closing of the deal, Emergent received around $30 million, which is subject to standard post-closing adjustments.
Transaction Details
With the deal finalized, Bora has taken ownership of the assets, equipment, and workforce linked to the 87,000 square foot manufacturing facility.
Leadership Insights from Emergent
Joe Papa, President and CEO of Emergent, remarked, “This milestone marks an important step in our multi-year strategy to stabilize, turnaround, and transform Emergent. Our focus remains on creating a customer-centric, leaner, and more adaptable organization, while we continue to implement our long-term plan aimed at enhancing overall profitability and raising capital to lower our debt. We also want to express our gratitude to our Camden colleagues for their invaluable contributions.”
Advisors Involved in the Sale
In this transaction, Emergent was advised by Truist Securities as the financial advisor, while Covington & Burling LLP provided legal counsel.
About Emergent BioSolutions
At Emergent, our mission is to protect and enhance life. For the past 25 years, we have been dedicated to defending individuals against potential threats that we hope never arise—ensuring we are prepared just in case they do. We offer solutions for urgent public health challenges through a range of vaccines and therapeutics that we develop and manufacture for both governments and consumers. Additionally, we provide a variety of integrated contract development and manufacturing services for pharmaceutical and biotechnology clients. To discover more about our goal to protect or enhance 1 billion lives by 2030, please visit our website and follow us on LinkedIn, X, Instagram, Apple Podcasts, and Spotify.
Contact Information
Investor Contact:
Richard S. Lindahl
Executive Vice President, CFO
lindahlr@ebsi.com
Media Contact:
Assal Hellmer
Vice President, Communications
mediarelations@ebsi.com
Frequently Asked Questions
What facility did Emergent BioSolutions sell?
Emergent BioSolutions sold its drug product facility located in Baltimore-Camden.
Who purchased the facility?
The facility was purchased by an affiliate of Bora Pharmaceuticals Co., Ltd.
How much did Emergent receive from the sale?
Emergent received approximately $30 million from the transaction.
What is Emergent BioSolutions' mission?
Emergent's mission is to protect and enhance life by providing solutions for complex public health threats through vaccines and therapeutics.
Who were the advisors for the sale?
Truist Securities served as the financial advisor, and Covington & Burling LLP acted as legal counsel for Emergent during the sale.