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Emergent Biosolutions (EBS) has provided an update.
Emergent BioSolutions Inc. is embarking on a major organizational restructuring that will reduce its workforce by roughly 300 employees and shut down two manufacturing facilities, aiming to save an estimated $80 million annually. The plan, which is still subject to legal and consultation requirements, will incur charges between $18 million to $21 million, primarily in the latter half of 2024. While the company projects significant savings, these are based on assumptions, and actual savings may vary. The restructuring announcement was made public in a press release, which is not considered legally filed but is for informational purposes.
For a thorough assessment of EBS stock, go to TipRanks’ Stock Analysis page.