Emergent BioSolutions announced today that it entered into an agreement to sell its Baltimore-Bayview drug substance manufacturing facility.
The company agreed to sell the plant to Syngene, a leading global CRDMO, for a total value of $36.5 million. The plant includes manufacturing, laboratory, warehousing and office space, plus multiple monoclonal antibody (mAbs) manufacturing lines. Syngene says this is its first acquisition of a U.S. manufacturing plant.
This marks the second recent sale of a Baltimore-area plant by the Gaithersburg, Maryland-based company. Last summer, Emergent BioSolutions agreed to sell its Baltimore-Camden drug product facility to Bora Pharmaceuticals.
As part of the latest agreement, Emergent retains the rights to secure manufacturing services and capacity at the facility for future growth and pandemic response production in collaboration with Syngene. The company expects to close the sale by the end of the first quarter.
“The sale of Bayview represents a continuation of our efforts to deliver on our multi-year transformation plan and creates a streamlined, customer-focused, leaner, more flexible organization that provides the capabilities to deliver our product demand today and into the future,” said Joe Papa, president and CEO of Emergent. “Now in our turnaround phase, we see significant opportunities for Emergent’s core products and future growth drivers that have the potential to protect and save countless lives.”
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