12:05 PM EDT, 08/20/2024 (MT Newswires) -- Emergent Biosolutions ( EBS ) said Tuesday that it has completed the sale of its drug manufacturing facility in Baltimore-Camden to an affiliate of Bora Pharmaceuticals for about $30 million.

"This milestone is a significant step forward in our multi-year plan to stabilize, turnaround, and transform Emergent," said CEO Joe Papa. "We continue to execute our multi-year plan to improve overall profitability and raise capital to reduce our debt."

Shares of Emergent Biosolutions ( EBS ) were down more than 14% in recent trading.

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