Emergent BioSolutions Inc. announced it has entered into an agreement to sell its Baltimore-Bayview drug substance manufacturing facility to Syngene International for a total value of $36.5 million. The Bayview site includes manufacturing, laboratory, warehousing, and office space, equipped with multiple monoclonal antibody manufacturing lines.
As part of the agreement, Emergent will retain the rights to secure manufacturing services and capacity at the facility for future growth and pandemic response production in collaboration with Syngene. This divestiture is a continuation of Emergent's multi-year transformation plan, aiming for a streamlined, customer-focused, and more flexible organization.
The sale is expected to close in the first quarter of 2025, subject to customary closing conditions. In March 2024, Emergent received a 'No Action Indicated' (NAI) status classification from the U.S. Food and Drug Administration for the Bayview site, affirming its compliance with Current Good Manufacturing Practices.
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