Emergent BioSolutions Completes Manufacturing Facility Sale
Emergent BioSolutions Finalizes Sale of Manufacturing Site
Emergent BioSolutions Inc. (NYSE: EBS) has announced the completion of the sale of its drug product facility to an affiliate of Bora Pharmaceuticals Co., Ltd. Emergent received approximately $30 million at closing, which is subject to customary post-closing adjustments.
Details of the Transaction
With the transaction closed, Bora has acquired the assets, equipment, and workforce associated with the 87,000 square foot manufacturing facility.
Comments from Emergent's Leadership
“This milestone is a significant step forward in our multi-year plan to stabilize, turnaround, and transform Emergent,” said Joe Papa, President and CEO at Emergent. “We remain focused on building a customer-focused, leaner, and more flexible organization, while we continue to execute our multi-year plan to improve overall profitability and raise capital to reduce our debt. We thank our Camden colleagues again for all of their contributions.”
Advisors in the Transaction
For Emergent, Truist Securities served as financial advisor, and Covington & Burling LLP served as legal counsel in connection with this transaction.
About Emergent BioSolutions
At Emergent, our mission is to protect and enhance life. For 25 years, we’ve been at work defending people from things we hope will never happen—so we are prepared just in case they ever do. We provide solutions for complex and urgent public health threats through a portfolio of vaccines and therapeutics that we develop and manufacture for governments and consumers. We also offer a range of integrated contract development and manufacturing services for pharmaceutical and biotechnology customers. To learn more about how we plan to protect or enhance 1 billion lives by 2030, 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.
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