Emergent BioSolutions Inc. announced the completion of the sale of its Baltimore-Bayview drug substance manufacturing facility to Syngene International. Emergent received approximately $36.5 million at closing, subject to customary post-closing adjustments.
Under the terms of the sale, Syngene acquired the assets and equipment associated with the Baltimore-Bayview facility. Emergent retains 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 key component of Emergent's multi-year transformation plan, aimed at streamlining operations and positioning the company for sustainable, long-term growth. The move allows Emergent to focus on its core product offerings and turnaround initiatives.
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