Emergent BioSolutions announces organizational changes, workforce reductions

Emergent BioSolutions announced a sharpened strategic focus on protecting and enhancing life through its core businesses, consisting of medical countermeasures and commercial products, including NARCAN Nasal Spray, as well as contract development and manufacturing services. Strategic developments include: The appointment of Paul Williams, Emergent’s current SVP government/MCM business, as Senior Vice President, Products Business to lead the company’s MCM and commercial products business, including NARCAN Nasal Spray. Newly created Science and Development function that unites research, product development, and clinical teams. The S&D function will be led by Kelly Warfield, Senior Vice President, Science and Development, and reporting to Adam Havey, Chief Operating Officer. Elimination of 132 roles related to the S&D consolidation and other organizational changes representing approximately 5% of the current corporate workforce. Due to the realignment of these functions and the sharper focus on our core businesses, the following changes to the executive management team: Departure of Atul Saran, EVP and Chief Strategy and Development Officer, effective March 17. Strategy and Development teams will report to Stephanie Duatschek, Chief Strategy and Transformation Officer. Departure of Katy Strei, EVP and Chief Human Resource Officer, effective March 17. Michelle Pepin is being promoted to Senior Vice President and Chief Human Resource Officer, effective immediately. These actions, in combination with other cost reduction initiatives, are expected to result in annualized savings of over $60 million when fully implemented. The costs associated with these actions are estimated to be approximately $9 million – $11 million and are expected to be incurred in the first quarter of 2023.