Emergent BioSolutions to cut ~300 jobs, close two facilities, targeting $80M annual savings

Emergent BioSolutions Inc.

Reduces workforce by ~300 employees and eliminates ~85 vacant positions across all areas.
Closes Baltimore-Bayview Drug Substance and Rockville Drug Product manufacturing facilities.
Estimated charges of $18-21M primarily in H2 2024; expects annualized savings of ~$80M.
Operations concentrated at Winnipeg and Lansing; new Chief Science Officer role created.
Q1 2024 earnings to be reported May 1; also filed amendment to credit facility.

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