Emergent BioSolutions is undergoing a restructuring that aims for annualized savings of approximately $40M and includes 90 layoffs. The company will shutter two Maryland laboratories, sell an unutilized office building for approximately $6M, and exit a warehouse lease. In a presentation, Emergent said the move would lead to the creation of a new Growth organization that integrates the capabilities of R&D, Business Development, Strategy into one function.
Emergent Biosolutions IncRestructuring targets ~$40M annualized savings via 90 layoffs, lab closures, and a $6M building sale, improving cost structure.
