Emergent BioSolutions has agreed to divest its sterile manufacturing facility in Baltimore-Camden, Maryland, US to Bora Pharmaceuticals for $30m.
A part of Emergent’s Contract Development and Manufacturing Organisation (CDMO) division, the facility offers a range of non-viral aseptic fill/finish services across four fill lines, including lyophilisation.
The Camden site’s acquisition by Bora includes the transfer of assets, equipment and approximately 350 Emergent employees.
The sale forms part of Emergent’s strategic efforts to streamline its manufacturing network and improve its financial position by focusing on its facilities in Lansing, Michigan and Winnipeg, Canada.
Emergent president and CEO Joe Papa stated: “The decision to sell our Camden manufacturing facility is aligned with our multi-year plan to create a customer-focused, leaner and more flexible organisation, while we improve overall profitability and raise capital to reduce our debt.”
For Bora, the acquisition marks a significant step in expanding its sterile drug product manufacturing capabilities and increasing its North American footprint.
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The 87,000ft² facility will complement Bora’s existing services, offering both drug substance and drug product capabilities.
The addition will also support Bora Biologics, the company’s division focused on development and manufacturing for biologics developers.
Bora Group chairman and CEO Bobby Sheng stated: “This transaction not only demonstrates our commitment to our growth strategy and plans for expansion in North America, but also enables us to expand our offering for our biologics customers.
“We look forward to working with the hugely talented team at the facility and supporting new and existing customers as we grow and develop the facility.”
The transaction is expected to close in the third quarter of 2024.
