Emergent BioSolutions Announces Strategic Steps to Strengthen Core Business and Financial Position
Actions bring sharpened focus on MCM and NARCAN® Nasal Spray products
Expected to improve operational efficiencies and deliver annual cost savings over
Additionally, Emergent will reduce operations at its facility in
Going forward, Emergent will focus on its core products business – medical countermeasures and NARCAN® Nasal Spray –and on delivering for its existing customers, including the
“The actions we are taking will further strengthen our core products business and financial foundation,” said Emergent interim Chief Executive Officer
These strategic actions will lead to a reduction of approximately 400 employees across all areas of the company. In combination with other cost reduction initiatives, these actions are expected to result in annualized savings of over
As a result of the strategic shift away from Emergent’s services business, the company is eliminating the chief operating officer (COO) role. As such,
“Changes like these are never easy as they impact many of our colleagues,” said Miller. “I want to thank Adam for his more than 20 years of service to Emergent, and all those who are affected by these actions for their dedication and contributions. Emergent is committed to working with impacted employees to help transition them to new opportunities.”
Since the beginning of 2023, Emergent has successfully completed several key strategic milestones, including:
- Securing contracts with the
U.S. government to procure ACAM2000, Emergent’s smallpox vaccine, as well as BAT, VIGIV and RSDL. - FDA approval to make NARCAN Nasal Spray the first opioid overdose reversal agent available over-the-counter. The launch of OTC NARCAN Nasal Spray is still on track for later this summer.
- Final approval of the biologics license application for CYFENDUS, Emergent’s second anthrax vaccine previously known as AV7909.
- A new contract with BARDA valued at up to
$704 million for advanced development, manufacturing scale-up, and procurement of Ebanga™, an FDA licensed treatment for Ebola virus disease. - Completing the sale of Emergent’s travel health business.
- Amending and extending its debt obligations.
Emergent will report its second quarter 2023 financial results today and will host a conference call at
About Emergent BioSolutions
At Emergent, our mission is to protect and enhance life. For over 20 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, Twitter and Instagram.
SAFE HARBOR STATEMENT
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, including statements regarding the expected timing for implementation of its restructuring activities, its total and cash cost, our ability to achieve the objectives of the restructuring, including our future results and any other statements containing the words “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates” and similar expressions, are forward-looking statements. These forward-looking statements are based on our current intentions, beliefs and expectations regarding future events. We cannot guarantee that any forward-looking statement will be accurate. Investors should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from our expectations. Investors are, therefore, cautioned not to place undue reliance on any forward-looking statement. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, we do not undertake to update any forward-looking statement to reflect new information, events or circumstances.

Emergent BioSolutions Contacts: Media:Matt Hartwig Senior Director, Media Relations 240-760-0551 mediarelations@ebsi.com Investors:Rich Lindahl Executive Vice President & Chief Financial Officer 240-631-3360 lindahlr@ebsi.com
Source: Emergent BioSolutions