Emergent BioSolutions to cut 300 employees, shutter 2 facilities in restructuring launched under new CEO

Emergent BioSolutions, under new CEO Joseph Papa, is undergoing a major restructuring that includes cutting 300 jobs and closing two Maryland facilities. The company aims to save $80 million annually after these changes. This restructuring follows operational challenges, including a significant contract reduction for the smallpox vaccine ACAM2000 by the Department of Health and Human Services. Emergent is refocusing on core products like the opioid overdose reversal spray, Narcan, and an anthrax vaccine, amidst recent financial strains and operational mishaps.