Emergent BioSolutions (EBS) 10-Q 5 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Oct. 29, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-33137
Entity Registrant Name	EMERGENT BIOSOLUTIONS INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	14-1902018
Entity Address, Address Line One	400 Professional Drive Suite 400
Entity Address, City or Town	Gaithersburg,
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20879
City Area Code	240
Local Phone Number	631-3200
Title of 12(b) Security	Common Stock, Par Value $0.001 per share
Trading Symbol	EBS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		53,798,664
Entity Central Index Key	0001367644
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 403.8	$ 621.3
Restricted cash	0.2	0.2
Accounts receivable, net	254.6	230.9
Inventories, net	364.6	307
Prepaid expenses and other current assets	88.3	36.5
Total current assets	1,111.5	1,195.9
Property, plant and equipment, net	768.7	644.1
Intangible assets, net	618.6	663.1
Goodwill	266.5	266.7
Other assets	102.2	113.4
Total assets	2,867.5	2,883.2
Current liabilities:
Accounts payable	135.2	136.1
Accrued expenses	42.9	46.9
Accrued compensation	73.4	84.6
Debt, current portion	31.6	33.8
Other current liabilities	82.3	83.1
Total current liabilities	365.4	384.5
Contingent consideration, net of current portion	5.1	34.2
Debt, net of current portion	817.3	841
Deferred tax liability	53	53.2
Contract liabilities, net of current portion	45.3	55.5
Other liabilities	58.7	67.8
Total liabilities	1,344.8	1,436.2
Stockholders' equity:
Preferred stock, $0.001 par value; 15.0 shares authorized, no shares issued or outstanding	0	0
Common stock, $0.001 par value; 200.0 shares authorized, 54.9 and 54.2 shares issued; 53.7 and 53.0 shares outstanding, respectively	0.1	0.1
Additional paid-in capital	816.8	784.9
Treasury stock, at cost, 1.2 common shares	(39.6)	(39.6)
Accumulated other comprehensive loss, net	(23.1)	(25.3)
Retained earnings	768.5	726.9
Total stockholders' equity	1,522.7	1,447
Total liabilities and stockholders' equity	$ 2,867.5	$ 2,883.2

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Stockholders' equity:
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	15,000,000	15,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	54,900,000	54,200,000
Common stock, shares outstanding (in shares)	53,700,000	53,000,000
Treasury stock (in shares)	1,200,000	1,200,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues:
Total revenues	$ 329	$ 385.2	$ 1,069.5	$ 972.4
Operating expenses:
Research and development	49.6	84.4	151	175
Selling, general and administrative	82.1	75.5	254.2	221.2
Amortization of intangible assets	14.5	15	44.5	44.8
Total operating expenses	363.7	323.9	994.3	796.7
Income (loss) from operations	(34.7)	61.3	75.2	175.7
Other income (expense):
Interest expense	(8.4)	(7.6)	(25.5)	(22.6)
Other, net	(2.4)	1.3	(2.8)	1.3
Total other income (expense), net	(10.8)	(6.3)	(28.3)	(21.3)
Income (loss) before income taxes	(45.5)	55	46.9	154.4
Income taxes	12.8	(15.5)	(5.3)	(34.7)
Net income (loss)	$ (32.7)	$ 39.5	$ 41.6	$ 119.7
Net income (loss) per common share
Basic (in dollars per share)	$ (0.61)	$ 0.75	$ 0.78	$ 2.28
Diluted (in dollars per share)	$ (0.61)	$ 0.73	$ 0.77	$ 2.23
Shares used in computing income (loss) per share
Basic (in shares)	53.7	53	53.6	52.5
Diluted (in shares)	53.7	54.3	54.3	53.6
Product sales, net
Revenues:
Services	$ 270.5	$ 202.2	$ 589.6	$ 648.9
Operating expenses:
Cost of goods and services sold	103.2	120.2	237	287.6
Total contract development and manufacturing
Revenues:
Total contract development and manufacturing	41.6	157.1	416.3	251.4
Services
Revenues:
Services	112.6	53.1	283.7	102.7
Operating expenses:
Cost of goods and services sold	114.3	28.8	307.6	68.1
Leases
Revenues:
Leases	(71)	104	132.6	148.7
Contracts and grants
Revenues:
Services	$ 16.9	$ 25.9	$ 63.6	$ 72.1

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (32.7)	$ 39.5	$ 41.6	$ 119.7
Other comprehensive income (loss), net of tax:
Foreign currency translation	0.3	(0.2)	(1.4)	(0.6)
Unrealized gains (losses) on hedging activities	(1)	1	3.6	(10.9)
Total other comprehensive income (loss)	(0.7)	0.8	2.2	(11.5)
Comprehensive income (loss)	$ (33.4)	$ 40.3	$ 43.8	$ 108.2

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows (used in) provided by operating activities:
Net income (loss)	$ 41.6	$ 119.7
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Share-based compensation expense	32.3	41
Depreciation and amortization	94.6	85.6
Adjustment for prior period lease receivables	86.1	0
Change in fair value of contingent consideration, net	2.6	31.3
Amortization of deferred financing costs	3.1	2.4
Deferred income taxes	0.6	(4.4)
Impairment of IPR&D	0	29
Other	5.1	0.6
Changes in operating assets and liabilities:
Accounts receivable	(114.7)	74.6
Inventories	(58)	(47.6)
Prepaid expenses and other assets	(54.8)	(61.8)
Accounts payable	3.5	10.6
Accrued expenses and other liabilities	(19.3)	4.4
Accrued compensation	(11.1)	14.5
Contract liabilities	(19.5)	(9)
Net cash (used in) provided by operating activities:	(7.9)	290.9
Cash flows used in investing activities:
Purchases of property, plant and equipment	(178.3)	(105)
Milestone payment from prior asset acquisition	0	(10)
Net cash used in investing activities:	(178.3)	(115)
Cash flows (used in) provided by financing activities:
Principal payments on revolving credit facility	0	(373)
Principal payments on term loan facility	(16.9)	(8.4)
Principal payments on convertible senior notes	(10.6)	0
Proceeds from senior unsecured notes	0	450
Proceeds from share-based compensation activity	12.5	26.6
Debt issuance costs	0	(8.4)
Taxes paid for share-based compensation activity	(13.5)	(12.8)
Contingent consideration payments	(2.5)	(2.2)
Net cash (used in) provided by financing activities:	(31)	71.8
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(0.3)	(0.5)
Net change in cash, cash equivalents and restricted cash	(217.5)	247.2
Cash, cash equivalents and restricted cash at beginning of period	621.5	168
Cash, cash equivalents and restricted cash at end of period	404	415.2
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	27.3	14
Cash paid during the period for income taxes	57.6	87.3
Supplemental information on non-cash investing and financing activities:
Purchases of property, plant and equipment unpaid at period end	20.6	9.7
Reconciliation of cash and cash equivalent and restricted cash at September 30, 2021 and December 31, 2020:
Cash and cash equivalents	403.8
Restricted cash	0.2
Total	$ 404	$ 415.2

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Millions	Total	$0.001 Par Value Common Stock	Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Retained Earnings
Balance (in shares) at Dec. 31, 2019		53,000,000		1,200,000
Beginning balance at Dec. 31, 2019	$ 1,088.5	$ 0.1	$ 716.1	$ (39.6)	$ (9.9)	$ 421.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation activity (in shares)		1,200,000
Share-based compensation activity	54.8		54.8
Net income (loss)	119.7					119.7
Other comprehensive income (loss)	(11.5)				(11.5)
Balance (in shares) at Sep. 30, 2020		54,200,000		1,200,000
Ending balance at Sep. 30, 2020	1,251.5	$ 0.1	770.9	$ (39.6)	(21.4)	541.5
Balance (in shares) at Jun. 30, 2020		54,100,000		1,200,000
Beginning balance at Jun. 30, 2020	1,198.8	$ 0.1	758.5	$ (39.6)	(22.2)	502
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation activity (in shares)		100,000
Share-based compensation activity	12.4		12.4
Net income (loss)	39.5					39.5
Other comprehensive income (loss)	0.8				0.8
Balance (in shares) at Sep. 30, 2020		54,200,000		1,200,000
Ending balance at Sep. 30, 2020	$ 1,251.5	$ 0.1	770.9	$ (39.6)	(21.4)	541.5
Balance (in shares) at Dec. 31, 2020	54,200,000	54,300,000		1,200,000
Beginning balance at Dec. 31, 2020	$ 1,447	$ 0.1	784.9	$ (39.6)	(25.3)	726.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation activity (in shares)		600,000
Share-based compensation activity	31.9		31.9
Net income (loss)	41.6					41.6
Other comprehensive income (loss)	$ 2.2				2.2
Balance (in shares) at Sep. 30, 2021	54,900,000	54,900,000		1,200,000
Ending balance at Sep. 30, 2021	$ 1,522.7	$ 0.1	816.8	$ (39.6)	(23.1)	768.5
Balance (in shares) at Jun. 30, 2021		54,900,000		1,200,000
Beginning balance at Jun. 30, 2021	1,543.7	$ 0.1	804.4	$ (39.6)	(22.4)	801.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation activity	12.4		12.4
Net income (loss)	(32.7)					(32.7)
Other comprehensive income (loss)	$ (0.7)				(0.7)
Balance (in shares) at Sep. 30, 2021	54,900,000	54,900,000		1,200,000
Ending balance at Sep. 30, 2021	$ 1,522.7	$ 0.1	$ 816.8	$ (39.6)	$ (23.1)	$ 768.5

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001

Business

Business	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business	Business Organization and business Emergent BioSolutions Inc. (the "Company" or "Emergent") is a global life sciences company focused on providing civilian and military populations with a portfolio of innovative preparedness and response products and solutions that address accidental, deliberate and naturally occurring public health threats ("PHTs," each a “PHT”). The Company is focused on the following five distinct PHT categories: Chemical, Biological, Radiological, Nuclear and Explosives ("CBRNE"); emerging infectious diseases ("EID"); travel health; emerging health crises; acute/emergency care; and contract development and manufacturing ("CDMO"). The Company has a product portfolio of ten products (vaccines, therapeutics, and drug-device combination products) that contribute a substantial portion of our revenue. The Company has two product candidates that are procured under special circumstances by certain government agencies, although they are not approved by the U.S. Food and Drug Administration ("FDA"). The U.S. government (the "USG") is the Company's largest customer and provides the Company with substantial funding for the development of a number of its product candidates. The Company's product and services portfolio includes: Vaccines ▪ ACAM2000 ® (Smallpox (Vaccinia) Vaccine, Live), the only single-dose smallpox vaccine licensed by the FDA for active immunization against smallpox disease for persons determined to be at high risk for smallpox infection; ▪ BioThrax ® (Anthrax Vaccine Adsorbed), the only vaccine licensed by the FDA, for the general use prophylaxis and post-exposure prophylaxis of anthrax disease; ▪ Vaxchora® (Cholera Vaccine, Live, Oral), the only single-dose oral vaccine licensed by the FDA and the European Medicines Agency ("EMA") for the prevention of cholera; and ▪ Vivotif® (Typhoid Vaccine Live Oral Ty21a), the only oral vaccine licensed by the FDA for the prevention of typhoid fever. Devices ▪ NARCAN® (naloxone HCl) Nasal Spray, the first needle-free formulation of naloxone approved by the FDA and Health Canada, for the emergency treatment of known or suspected opioid overdose as manifested by respiratory and/or central nervous system depression; and ▪ RSDL ® (Reactive Skin Decontamination Lotion Kit), the only medical device cleared by the FDA to remove or neutralize the following chemical warfare agents from the skin: tabun, sarin, soman, cyclohexyl sarin, VR, VX, mustard gas and T-2 toxin. Therapeutics ▪ raxibacumab (Anthrax Monoclonal), a fully human monoclonal antibody therapeutic licensed by the FDA for the treatment and prophylaxis of inhalational anthrax; ▪ Anthrasil ® (Anthrax Immune Globulin Intravenous (Human)), the only polyclonal antibody therapeutic licensed by the FDA and Health Canada for the treatment of inhalational anthrax; ▪ BAT® (Botulism Antitoxin Heptavalent (A,B,C,D,E,F,G)-(Equine)), the only heptavalent antibody therapeutic licensed by the FDA and Health Canada for the treatment of botulism; and; ▪ VIGIV (Vaccinia Immune Globulin Intravenous (Human)), the only polyclonal antibody therapeutic licensed by the FDA and Health Canada to address certain complications from smallpox vaccination. Procured Product Candidates • AV7909 ® (Anthrax Vaccine Absorbed with Adjuvant), is a procured product candidate being developed as a next generation anthrax vaccine for post-exposure prophylaxis of disease resulting from suspected or confirmed Bacillus anthracis exposure. The USG has largely switched from procuring BioThrax to AV7909 for the Strategic National Stockpile ("SNS") prior to its approval by the FDA; and • Trobigard® is a combination drug-device auto-injector procured product candidate that contains atropine sulfate and obidoxime chloride. It has not been approved by the FDA, but it is procured by certain authorized government buyers under special circumstances for potential use as a nerve agent countermeasure. Contract Development and Manufacturing Services The Company's contract development and manufacturing ("CDMO") service offerings cover development services, drug substance manufacturing, drug product manufacturing, and when necessary, suite reservations, which depending on facts and circumstances could be considered a lease. These services are provided across the pharmaceutical and biotechnology industries as well as the USG and non-governmental organizations. The Company's technology platforms include mammalian, microbial, viral, plasma and advanced therapies utilizing our core capabilities for manufacturing to third parties on a clinical and commercial (small and large) scale. Additional services include fill/finish formulation and analytical development services for injectable and other sterile products, inclusive of process design, technical transfer, manufacturing validations, aseptic filling, lyophilization, final packaging and stability studies, as well as manufacturing of vial and pre-filled syringe formats on multiple platforms. The Company operates as one operating segment.

Basis of Presentation and Princ

Basis of Presentation and Principles of Consolidation	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation Basis of presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Emergent and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. The unaudited condensed consolidated financial statements included herein have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X issued by the SEC. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC. All adjustments contained in the accompanying unaudited condensed consolidated financial statements are of a normal recurring nature and are necessary to present fairly the financial position of the Company as of September 30, 2021. Interim results are not necessarily indicative of results that may be expected for any other interim period or for an entire year. Significant accounting policies During the nine months ended September 30, 2021, there have been no significant changes to the Company's summary of significant accounting policies contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC that have materially impacted the presentation of the Company's financial statements. During the period, the Company has adjusted its CDMO revenue recognition policy, which resulted in immaterial out-of-period adjustments which are further discussed below. The Company's adjusted CDMO revenue recognition policies are as follows: The Company performs CDMO services for third parties. Under these contracts, activities can include drug substance and drug product manufacturing services for injectable and other sterile products, and development services such as pharmaceutical product process development, process design, technology transfer, manufacturing validations, laboratory analytical development support, aseptic filling, lyophilization, final packaging, stability studies, and suite-reservations. These contracts vary in duration, activities, and number of performance obligations. Performance obligations identified under these arrangements may include drug substance and/or drug product manufacturing, technology transfer activities, and suite-reservations. Drug substance and drug product manufacturing performance obligations are recognized as revenue over-time because the Company’s performance does not create an asset with an alternative use and the Company has an enforceable right to payment for performance completed as work is performed. In drug product arrangements, the customer typically owns and supplies the active pharmaceutical ingredient, or API, that is used in the manufacturing process; in drug substance arrangements, the customer provides certain seed material that is used in the manufacturing process. The transaction price is stated in the agreement as a fixed price per unit, with no contractual provision for a refund or price concession. We use an input method to measure progress toward the satisfaction of the related performance obligations based on costs incurred as a percentage of total costs to complete which we believe best depicts the transfer of control of goods or services promised to our customers. For arrangements with development services or where we have identified technology transfer activities to be a separate performance obligation, revenues are recognized over-time as the service is provided as there is no alternative future use to the Company for the asset created and the Company has an enforceable right to payment for performance completed as of that date. We use an input method to measure progress toward the satisfaction of the related performance obligations based on costs incurred as a percentage of total costs to complete which we believe best depicts the transfer of control of goods or services promised to our customers. Suite reservations are classified as leases when the customer directs the use of the identified suite and obtains substantially all the economic benefits from the manufacturing capacity. If a customer reserves more than one suite, the allocation of contract value is based on relative selling price which varies due to size, location, capacity, production capability for drug product or drug substance, and the time of planned use. The associated revenue is recognized on a straight-line basis over the period of performance. For arrangements that contain both lease and non-lease components, consideration in the contract is allocated on a relative standalone selling price basis. The Company’s CDMO customer contracts generally include provisions entitling the Company to a termination penalty when the contract is terminated prior to the contract’s nominal end date. The termination penalties in the customer contracts vary but are generally considered substantive for accounting purposes and create enforceable rights and obligations throughout the stated duration of the contract. The Company accounts for a contract cancellation as a contract modification. The determination of the contract termination penalty is based on the terms stated in the related customer agreement. As of the modification date, the Company updates its estimate of the transaction price, subject to constraints, and recognizes the amount over the remaining performance period or measure of progress under the arrangement. Fair value measurements Separate disclosure is required for assets and liabilities measured at fair value on a recurring basis from those measured at fair value on a non-recurring basis. The Company has cash held in money market accounts (level 1) and time deposits (level 2), contingent purchase consideration (level 3) and interest rate swaps arrangements (level 2) that are measured at fair value on a recurring basis (Note 7 and Note 8). On a non-recurring basis, the Company measures its long-lived assets as part of impairment evaluations using fair value measurements. Goodwill is allocated to the Company's reporting units, which are one level below its operating segment. The Company evaluates goodwill and other indefinite-lived intangible assets for impairment annually as of October 1 and earlier if an event or other circumstance indicates that the carrying value of the asset may not be recoverable. If the Company believes that as a result of its qualitative assessment it is more likely than not that the fair value of a reporting unit or other indefinite-lived intangible asset is greater than its carrying amount, the quantitative impairment test is not required. If however it is determined that it is not more likely than not that the fair value of a reporting unit or other indefinite-lived intangible asset is greater than its carrying amount, a quantitative test is required. Long-lived assets such as intangible assets and property, plant and equipment are not required to be tested for impairment annually. Instead, long-lived assets are tested for impairment whenever circumstances indicate that the carrying amount of the asset may not be recoverable, such as when there is an adverse change in the market relating to those related assets. The impairment test first requires a comparison of undiscounted future cash flows to the carrying value of the asset. Determining the need for a detailed impairment analysis requires the exercise of judgment about several business factors, including the timing of expected future cash flows and assumptions about the economic environment. As of September 30, 2021 and December 31, 2020, the Company had no other significant assets or liabilities that were measured at fair value. Out-of-period adjustments During the three months ended September 30, 2021, the Company identified and recorded immaterial out-of-period adjustments. Historically, the Company has recognized revenue for drug substance and drug product manufacturing performance obligations when the goods have been released, legal title has passed and the goods are in the customer's possession. Beginning with the current period, the Company will recognize revenue over time using an input measure based on costs incurred as a percentage of total estimated contract costs to recognize batch production and fill-finish revenue. As batch production and fill-finish manufacturing generally take place over short intervals, the adjustments to the financial statements were not material. Additionally, the Company determined that the classification of its suite reservations, when the customer directs the use of the identified suite and obtains substantially all the economic benefits reflected in CDMO service revenue, are more appropriately classified as leases. Although either classification generally results in recognition of revenue on a straight line basis over-time, the Company identified one lease component commencement date change which impacted the revenue recognized during our 2020 and 2021 periods. The Company has also included incremental lease accounting disclosures in these financial statements (see Note 10). The Company evaluated the materiality of the out-of-period adjustments from quantitative and qualitative perspectives and concluded that the adjustments were immaterial to the Company’s prior period interim and annual consolidated financial statements. As a result, no amendments to previously filed interim or annual periodic reports are required. These adjustments resulted in the following out-of-period adjustments: Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Contract development and manufacturing revenue: Services 49.3 28.8 Leases (11.0) (5.5) Total contract development and manufacturing revenue 38.3 23.3 Cost of CDMO 36.9 16.2 Income before income taxes 1.4 7.1 Net income 1.1 5.3 The condensed consolidated statements of operations and statements of changes in stockholders' equity for the three and nine months ended September 30, 2021 , the condensed consolidated balance sheet as of September 30, 2021 and the condensed consolidated statements of cash flows for the nine months ended September 30, 2021 reflect the above adjustments. In addition, during the three and nine months ended September 30, 2021, the Company revised its presentation on the condensed consolidated statement of operations to separately present (i) lease revenues as opposed to combining with CDMO services revenues as the Company had previously reported and (ii) cost of contract development and manufacturing as opposed to combining with cost of product sales. As the Company's lease revenue is solely associated with CDMO services and is substantially related to one arrangement which will not continue after 2021, the Company has combined the costs of CDMO services and leases within the condensed consolidated statement of operations. All associated prior period amounts have been reclassified to conform to the current period presentation. Recently issued accounting standards Recently Adopted ASU 2019-12, Simplifications to Accounting for Income Taxes ("ASU 2019-12") In December 2019, the FASB issued ASU 2019-12. ASU 2019-12 removes certain exceptions for recognizing deferred taxes for investments, performing intra-period allocation and calculating income taxes in interim periods. The ASU also adds guidance to reduce complexity in certain areas, including deferred taxes for goodwill and allocating taxes for members of a consolidated group. ASU 2019-12 is effective for all entities for fiscal years beginning after December 15, 2020, and earlier adoption is permitted. As of January 1, 2021, the Company adopted the standard, which did not have a material impact on the Company's consolidated financial statements. Not Yet Adopted ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting

Inventories, net

Inventories, net	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventories, net	Inventories, net The components of inventory are as follows: September 30, 2021 December 31, 2020 Raw materials and supplies $ 198.8 $ 160.6 Work-in-process 107.3 102.5 Finished goods 58.5 43.9 Total inventories, net $ 364.6 $ 307.0 Inventories, net is stated at the lower of cost or net realizable value. During the nine months ended September 30, 2021, the Company recorded inventory write-offs at its Bayview facility of $41.5 million, which were directly or indirectly the result of the cross-contamination event at the Bayview facility identified during the three months ended June 30, 2021. The inventory write-off resulted from the Company's plan to discard raw materials and in-process batches that were deemed unusable. The charge was reflected as a component of cost of contract development and manufacturing.

Property, plant and equipment,

Property, plant and equipment, net	9 Months Ended
	Sep. 30, 2021
Property Plant and Equipment Income Statement Disclosures [Abstract]
Property, plant and equipment	Property, plant and equipment, net Property, plant and equipment, net consisted of the following: September 30, 2021 December 31, 2020 Land and improvements $ 51.5 $ 52.7 Buildings, building improvements and leasehold improvements 267.7 246.3 Furniture and equipment 490.8 362.1 Software 61.1 58.7 Construction-in-progress 201.4 183.4 Property, plant and equipment, gross 1,072.5 903.2 Accumulated depreciation (303.8) (259.1) Total property, plant and equipment, net $ 768.7 $ 644.1 As of September 30, 2021 and December 31, 2020, construction-in-progress primarily includes costs incurred related to construction to advance the Company's CDMO capabilities. These costs include capital expenditures related to our Biomedical Advanced Research and Development Authority ("BARDA") COVID-19 Development Public Private Partnership (see Note 10).

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases	Leases The Company is the lessee for operating leases for corporate offices, research and development facilities and manufacturing facilities. We determine if an arrangement is a lease at inception. Operating leases are included in right-of-use ("ROU") assets and liabilities. (For a discussion of lessor activities, see Note 10.) The components of lease expense were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Operating lease cost: Amortization of right-of-use assets $ 1.4 $ 1.1 $ 4.2 $ 3.2 Interest on lease liabilities 0.3 0.2 1.0 0.8 Total operating lease cost $ 1.7 $ 1.3 $ 5.2 $ 4.0 Operating lease costs are reflected as components of cost of product sales, cost of contract development and manufacturing, research and development expense and selling, general and administrative expense. Supplemental balance sheet information related to leases was as follows: (In millions, except lease term and discount rate) Balance Sheet location September 30, 2021 December 31, 2020 Operating lease right-of-use assets Other assets $ 28.4 $ 31.0 Operating lease liabilities, current portion Other current liabilities 5.7 5.4 Operating lease liabilities Other liabilities 24.5 27.8 Total operating lease liabilities $ 30.2 $ 33.2 Operating leases: Weighted average remaining lease term (years) 7.1 7.7 Weighted average discount rate 4.0 % 4.1 %

Intangible assets

Intangible assets	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible assets The Company's intangible assets consist of products acquired via business combinations or asset acquisitions. The following tables summarize the Company's intangible assets for the periods ended September 30, 2021 and December 31, 2020: September 30, 2021 December 31, 2020 Asset Type Estimated Life Cost Accumulated Amortization Net Cost Accumulated Amortization Net Products 9-22 years $ 798.0 $ 179.7 $ 618.3 $ 798.0 $ 137.8 $ 660.2 Customer relationships 8 years 28.6 28.6 — 28.6 26.5 2.1 CDMO 8 years 5.5 5.2 0.3 5.5 4.7 0.8 Total intangible assets $ 832.1 $ 213.5 $ 618.6 $ 832.1 $ 169.0 $ 663.1 Amortization expense associated with the Company's intangible assets was recorded as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Amortization Expense $ 14.5 $ 15.0 $ 44.5 $ 44.8 As of September 30, 2021, the weighted average amortization period remaining for intangible assets was 12.1 years. The following table provides a roll forward of changes in our goodwill balance: Goodwill, December 31, 2020 $ 266.7 Foreign currency translation (0.2) Goodwill, September 30, 2021 $ 266.5

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The table below presents information about our assets and liabilities that are regularly measured and carried at fair value and indicate the level within the fair value hierarchy of the valuation techniques we utilized to determine fair value: September 30, 2021 December 31, 2020 Total Level1 Level 2 Level 3 Total Level1 Level 2 Level 3 Assets: Money market accounts $ 52.4 52.4 — — $ 352.2 352.2 — — Time deposits 180.0 — 180.0 — — — — — Total $ 232.4 52.4 180.0 — $ 352.2 352.2 — — Liabilities: Contingent consideration $ 37.7 — — 37.7 $ 58.1 — — 58.1 Derivative instruments 10.1 — 10.1 — 15.0 — 15.0 — Total $ 47.8 — 10.1 37.7 $ 73.1 — 15.0 58.1 Contingent Consideration Contingent consideration liabilities associated with business combinations are measured at fair value. These liabilities represent an obligation of the Company to transfer additional assets to the selling shareholders and owners if future events occur or conditions are met. These liabilities associated with business combinations are measured at fair value at inception and at each subsequent reporting date. The changes in the fair value are primarily due to the expected amount and timing of future net sales, which are inputs that have no observable market. Any changes in fair value for the contingent consideration liabilities related to the Company’s products are classified in the Company's statement of operations as cost of product sales. Any changes in fair value for the contingent consideration liabilities related to the Company’s product candidates are recorded in research and development expense for regulatory and development milestones. The following table is a reconciliation of the beginning and ending balance of contingent considerations. Balance at December 31, 2020 $ 58.1 Change in fair value 2.6 Settlements (23.0) Balance at September 30, 2021 $ 37.7 As of September 30, 2021 and December 31, 2020, the current portion of the contingent consideration liability was $32.6 million and $23.9 million, respectively, and was included in other current liabilities on the condensed consolidated balance sheets. The recurring Level 3 fair value measurements for the Company's contingent consideration liability include the following significant unobservable inputs: Contingent Consideration Liability Fair Value as of September 30, 2021 Valuation Technique Unobservable Input Range Weighted Average Revenue milestone and royalty based $37.7 million Discounted cash flow Discount rate —% - 7.4% 1.5% Probability of payment 25% - 100% 87% Projected year of payment 2021 - 2028 2022 Derivative Instruments Refer to Note 8, Derivatives, to these condensed consolidated financial statements. Non-Variable Rate Debt As of September 30, 2021 and December 31, 2020, t he fair value of the Company's 3.875% Senior Unsecured Notes is $438.8 million and $466.0 million. The fair value was determined through market sources, which are level 2 inputs and directly observable.

Derivative instruments and hedg

Derivative instruments and hedging activities	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative instruments and hedging activities	Derivative instruments and hedging activities Risk management objective of using derivatives The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its assets and liabilities and the use of derivative financial instruments. Specifically, the Company has entered into interest rate swaps to manage exposures that arise from the Company's senior secured credit agreement's payments of variable interest rate debt. If current fair values of designated interest rate swaps remained static over the next twelve months, the Company would reclassify $5.7 million of net deferred losses from accumulated other comprehensive loss to the condensed consolidated statement of operations over the next twelve month period. All outstanding cash flow hedges mature in October 2023. As of September 30, 2021, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk: Number of Instruments Notional Interest rate swaps 7 $ 350.0 The table below presents the fair value of the Company’s derivative financial instruments designated as hedges as well as their classification on the balance sheet. Liability Derivatives September 30, 2021 December 31, 2020 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Interest Rate Swaps Other Current Liabilities $ 5.7 Other Current Liabilities $ 5.7 Other Liabilities $ 4.4 Other Liabilities $ 9.3 The valuation of the interest rate swaps is determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each interest rate swap. This analysis reflects the contractual terms of the interest rate swaps, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash payments (or receipts) and the discounted expected variable cash receipts (or payments). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. We incorporate credit valuation adjustments in the fair value measurements to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk. These credit valuation adjustments were not significant inputs for the fair value calculations for the periods presented. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements, such as the posting of collateral, thresholds, mutual puts and guarantees. The valuation of interest rate swaps fall into Level 2 in the fair value hierarchy. The table below presents the effect of cash flow hedge accounting on accumulated other comprehensive income. Hedging derivatives Cumulative Amount of Gain/(Loss) Recognized in OCI on Derivative Location of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income September 30, December 31, Nine Months Ended September 30, 2021 2020 2021 2020 Interest Rate Swaps $ (10.1) $ (15.0) Interest expense $ (4.3) $ (2.5)

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt The components of debt are as follows: September 30, 2021 December 31, 2020 Senior secured credit agreement - Term loan due 2023 $ 405.0 $ 421.9 3.875% Senior Unsecured Notes due 2028 450.0 450.0 2.875% Convertible Senior Notes due 2021 — 10.6 Other 3.0 3.0 Total debt 858.0 885.5 Current portion of long-term debt, net of debt issuance costs (31.6) (33.8) Unamortized debt issuance costs (9.1) (10.7) Non-current portion of debt $ 817.3 $ 841.0 As of September 30, 2021 and December 31, 2020, debt issuance costs associated with the revolver loan were classified as other current assets and other assets on the Company's consolidated balance sheets because there was no outstanding revolver balance at period end. As of September 30, 2021, the Company had $2.0 million and $2.0 million of debt issuance costs associated with the revolver loan classified as other current assets and other assets, respectively. As of December 31, 2020, the Company had approximately $2.0 million and $3.5 million of debt issuance costs associated with the revolver loan that were classified as other current assets and other assets, respectively. 3.875% Senior Unsecured Notes due 2028 On August 7, 2020, the Company completed its offering of $450 million aggregate principal amount of 3.875% Senior Unsecured Notes due 2028 (the “2028 Notes”) of which the majority of the net proceeds were used to pay down the Revolving Credit Facility (as defined below). Interest on the 2028 Notes is payable on February 15th and August 15th of each year until maturity, beginning on February 15, 2021. The 2028 Notes will mature on August 15, 2028. On or after August 15, 2023, the Company may redeem the 2028 Notes, in whole or in part, at the redemption prices set forth in the related Indenture, plus accrued and unpaid interest. Prior to August 15, 2023 the Company may redeem all or a portion of the 2028 Notes at a redemption price equal to 100% of the principal amount of the 2028 Notes plus a “make-whole” premium and accrued and unpaid interest. Prior to August 15, 2023, the Company may redeem up to 40% of the aggregate principal amount of the 2028 Notes using the net cash proceeds of certain equity offerings at the redemption price set forth in the related Indenture. Upon the occurrence of a change of control, the Company must offer to repurchase the 2028 Notes at a purchase price of 101% of the principal amount of such 2028 Notes plus accrued and unpaid interest. Negative covenants in the Indenture governing the 2028 Notes, among other things, limit the ability of the Company to incur indebtedness and liens, dispose of assets, make investments, enter into certain merger or consolidation transactions and make restricted payments. Senior secured credit agreement Also on August 7, 2020, the Company entered into a Second Amendment (the “Credit Agreement Amendment”) to its senior secured credit agreement, dated October 15, 2018, with multiple lending institutions relating to the Company’s senior secured credit facilities (the “Credit Agreement,” and as amended, the “Amended Credit Agreement”), consisting of a senior revolving credit facility (the “Revolving Credit Facility”) and senior term loan facility (the “Term Loan Facility,” and together with the Revolving Credit Facility, the “Senior Secured Credit Facilities”). The Credit Agreement Amendment amended, among other things, the definition of incremental facilities limit, the consolidated net leverage ratio financial covenant by increasing the maximum level, increased the permissible applicable margins based on the Company’s consolidated net leverage ratio and increased the commitment fee that the Company is required to pay in respect of the average daily unused commitments under the Revolving Credit Facility, depending on the Company’s consolidated net leverage ratio. The Amended Credit Agreement includes (i) a Revolving Credit Facility of $600 million and (ii) a Term Loan Facility with a principal amount of $450 million. The Company may request incremental term loan facilities or increases in the Revolving Credit Facility (each an "Incremental Loan") as long as certain requirements involving our net leverage ratio will be maintained on a pro forma basis. Borrowings under the Revolving Credit Facility and the Term Loan Facility bear interest at a rate per annum equal to (a) a eurocurrency rate plus a margin ranging from 1.25% to 2.25% per annum, depending on the Company's consolidated net leverage ratio or (b) a base rate (which is the highest of the prime rate, the federal funds rate plus 0.50%, and a eurocurrency rate for an interest period of one month plus 1% plus a margin ranging from 0.25% to 1.25%, depending on the Company's consolidated net leverage ratio). The Company is required to make quarterly payments on the last business day of each calendar quarter under the Amended Credit Agreement for accrued and unpaid interest on the outstanding principal balance, based on the above interest rates. In addition, the Company is required to pay commitment fees ranging from 0.15% to 0.35% per annum, depending on the Company's consolidated net leverage ratio, for the average daily unused commitments under the Revolving Credit Facility. The Company is to repay the outstanding principal amount of the Term Loan Facility in quarterly installments on the last business day of each calendar quarter based on an annual percentage equal to 2.5% of the original principal amount of the Term Loan Facility during each of the first two years of the Term Loan Facility, 5% of the original principal amount of the Term Loan Facility during the third year of the Term Loan Facility and 7.5% of the original principal amount of the Term Loan Facility during each year of the remainder of the term of the Term Loan Facility until the maturity date of the Term Loan Facility, at which time the entire unpaid principal balance of the Term Loan Facility will be due and payable. The Company has the right to prepay the Term Loan Facility without premium or penalty. The Revolving Credit Facility and the Term Loan Facility mature on October 13, 2023. The Amended Credit Agreement also requires mandatory prepayments of the Term Loan Facility in the event the Company or its Subsidiaries (a) incur indebtedness not otherwise permitted under the Amended Credit Agreement or (b) receive cash proceeds in excess of $100 million during the term of the Credit Agreement from certain dispositions of property or from casualty events involving their property, subject to certain reinvestment rights. The financial covenants under the Amended Credit Agreement currently require the quarterly presentation of a minimum consolidated 12-month rolling debt service coverage ratio of 2.50 to 1.00, and a maximum consolidated net leverage ratio of 4.50 to 1.00 (subject to an increase to 5.00 to 1.00 for an applicable four quarter period, at the election of the Company, in connection with a permitted acquisition having an aggregate consideration in excess of $75.0 million). Negative covenants in the Amended Credit Agreement, among other things, limit the ability of the Company to incur indebtedness and liens, dispose of assets, make investments, enter into certain merger or consolidation transactions and make restricted payments. As of the date of these financial statements, the Company is in compliance with all affirmative and negative covenants. 2.875% Convertible senior notes due 2021 On January 29, 2014, the Company issued 2.875% convertible senior notes due 2021 (the "Notes"). The Notes bore interest at a rate of 2.875% per year, payable semi-annually in arrears on January 15 and July 15 of each year. The Notes matured and were paid in full on January 15, 2021.

Revenue recognition

Revenue recognition	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue recognition	Revenue recognition The Company operates as one operating segment. Therefore, results of its operations are reported on a consolidated basis for purposes of segment reporting, consistent with internal management reporting. The Company's revenues disaggregated by the major sources were as follows: Three Months Ended September 30, 2021 Three Months Ended September 30, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Product sales, net $ 129.9 $ 140.6 $ 270.5 $ 102.4 $ 99.8 $ 202.2 Contract development and manufacturing: Services — 112.6 112.6 — 53.1 53.1 Leases (86.0) 15.0 (71.0) 85.9 18.1 104.0 Total contract development and manufacturing (86.0) 127.6 41.6 85.9 71.2 157.1 Contracts and grants 16.3 0.6 16.9 24.9 1.0 25.9 Total revenues $ 60.2 $ 268.8 $ 329.0 $ 213.2 $ 172.0 $ 385.2 Nine Months Ended September 30, 2021 Nine Months Ended September 30, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Product sales, net $ 252.6 $ 337.0 $ 589.6 $ 390.5 $ 258.4 $ 648.9 Contract development and manufacturing: Services — 283.7 283.7 — 102.7 102.7 Leases 81.9 50.7 132.6 130.6 18.1 148.7 Total contract development and manufacturing 81.9 334.4 416.3 130.6 120.8 251.4 Contracts and grants 60.7 2.9 63.6 67.6 4.5 72.1 Total revenues $ 395.2 $ 674.3 $ 1,069.5 $ 588.7 $ 383.7 $ 972.4 During the three and nine months ended September 30, 2020, the Company entered into CDMO service arrangements with innovators in support of the COVID-19 pandemic resulting in an increase in non-government revenues during the three and nine months ended September 30, 2021 compared to the three and nine months ended September 30, 2020. BARDA COVID-19 Development Public-Private Partnership In 2020, we announced that we had been issued a task order under our existing Center for Innovation in Advanced Development and Manufacturing ("CIADM") agreement with BARDA for COVID-19 vaccine development and manufacturing (the "BARDA COVID-19 Development Public Private Partnership"). The initial task order had a contract value of up to $628.2 million and includes the reservation of manufacturing capacity and accelerated expansion of fill/finish capacity valued at $542.7 million and $85.5 million, respectively. Subsequently, the task order was expanded to include incremental capital activities which increased the value to $650.8 million. During the three months ended September 30, 2021, the Company has concluded that the BARDA COVID-19 Development Public Private Partnership should be classified as a lease as BARDA received the right to direct the use of and obtain substantially all of the economic benefits of manufacturing suites (see Note 2). The lease arrangement with BARDA allows for the reservation of drug substance and drug product manufacturing capacity at various manufacturing sites that are recognized on a straight-line basis over the applicable lease term. At each reporting period, the Company must assess whether it is probable that the Company will collect all future lease payments associated with each lease contract. The collectibility of lease arrangements is a binary assessment of whether or not substantially all of the amounts due under a lease agreement are probable of collection. The Company considers payment history and current credit status when assessing collectibility. If the collectibility of the lease payments is probable at lease commencement and during the remaining term of the lease, the Company recognizes lease income over the term of the lease on a straight-line basis unless another systematic or rational basis better represents the pattern in which benefit is expected to be derived from the use of the underlying assets. If collectibility is not deemed probable at lease commencement date or at any time during the term of the lease, the Company’s lease income is limited to the lesser of (i) the lease payments that have been collected from the lessee, or the straight-line recognition of the contract value. If the collectibility assessment changes to not probable after the lease commencement date, lease income is reversed to the extent that the lease payments from the lessee are less than the lease income recognized to date. If the collectibility assessment changes to probable after the Company has determined collectibility is not deemed probable, any difference between the lease income that would have been recognized if collectibility had always been assessed as probable and the lease income recognized to date is recognized as a current-period adjustment to lease income. Changes to the collectibility of operating leases are recorded as adjustments to lease income in the consolidated statements of operations in the period that they occur. During the three months ended September 30, 2021, the Company determined that collection of all outstanding lease payments under our BARDA COVID-19 Development Public Private Partnership agreement was not probable, due to the passage of time as the USG had not paid invoices related to the task order reservation for services received after February 2021. The Company has reversed $86.0 million of revenue from prior periods during the three months ended September 30, 2021, which represents the amount of lease income recognized to date that is in excess of cash collected. Currently, the Company expects to record future lease payments on a cash basis. During the nine months ended September 30, 2021, the Company has recognized lease revenue of $81.9 million under this arrangement. During the three and nine months ended September 30, 2020, the Company recognized lease revenue of $85.9 million and $130.5 million, respectively under this arrangement. On November 1, 2021, the Company and BARDA mutually agreed to terminate the Company's CIADM contract and associated task orders, including the BARDA COVID-19 Development Public Private Partnership. The terms of the contract modification reduced the contract value of the BARDA COVID-19 Development Public-Private Partnership to $470.9 million from $650.8 million and the base CIADM contract value was reduced to $140.5 million from $163.2 million. As a result of this termination, the Company expects to record approximately $215.9 million of revenue in the fourth quarter of 2021, which includes $155.7 million of lease revenue upon receipt of cash payments and $60.2 million of contract and grant revenue from the original CIADM arrangement, of which $55.2 million is recorded as deferred revenue as of September 30, 2020. In addition, the Company expects to recognize as research and development expense of $38.2 million due to the removal of a contract asset associated with the CIADM arrangement. Upon termination, the Company and BARDA have no ongoing obligations related to this arrangement. Non-USG Leases The Company's multi-year CDMO service arrangements with non-USG customers that were entered into during 2020 include operating leases whereby the customer has the right to direct the use of and obtain substantially all of the economic benefits of manufacturing suites. The associated revenue is recognized on a straight-line basis over the term of the lease. The remaining term on the Company's operating lease components approximates 2.5 years . The Company has allocated contracted o perating lease revenues due under our long-term CDMO service arrangements with non-USG customers as follows: Year ended December 31, 2021 (1) $ 11.5 2022 45.8 2023 45.8 2024 11.5 $ 114.6 (1) As of September 30, 2021, amount represents the three months ending December 31, 2021. Transaction price allocated to remaining performance obligations As of September 30, 2021, the Company expects future revenues on unsatisfied performance obligations of approximately $1.5 billion associated with all arrangements entered into by the Company. The unsatisfied performance obligations increased by $0.2 billion during the three months ended September 30, 2021, largely due to the receipt of a $0.4 billion contract modification to the 2016 AV7909 development and procurement contract with the U.S. Department of Health and Human Services ("HHS") offset by revenue recognized during the period. During the three months ended June 30, 2021, AstraZeneca ("AZ") instructed the Company to cease performing new manufacturing services. At that time the Company updated its estimated transaction price subject to constraints and measure of progress under the arrangement. The Company has completed the release of all previously manufactured batches for AZ and there are no remaining unsatisfied performance obligations included in the Company's unsatisfied performance obligation disclosure. The Company expects to recognize a majority of the $1.5 billion of unsatisfied performance obligations within the next 24 months. The amount and timing of revenue recognition for unsatisfied performance obligations can change. The future revenues associat ed with unsatisfied performance obligations exclude the value of unexercised option periods in the Company’s revenue arrangements. Often the timing of manufacturing activities changes based on customer needs and resource availability. Regulatory compliance may also impact the status of the Company’s COVID related CDMO arrangements. Government funding appropriations can impact the timing of product deliveries. The success of the Company's development activities that receive development funding support from the USG under development contracts can also impact the timing of revenue recognition. Contract assets The Company considers unbilled accounts receivables and deferred costs associated with revenue generating contracts, which are not included in inventory or property, plant and equipment, as contract assets. As of September 30, 2021 and December 31, 2020, the Company had contract assets associated with deferred costs of $38.0 million and $41.1 million, respectively, which is reflected as a component of other assets on the Company's consolidated balance sheets. During the three and nine months ended September 30, 2021, the Company recorded amortization expense of contract assets of $1.7 million and $3.3 million, respectively, which has been included as a component of research and development expense. The Company did not record amortization expense associated with its contract assets during 2020. Contract liabilities When performance obligations are not transferred to a customer at the end of a reporting period, cash received associated with amounts allocated to those performance obligations is reflected as contract liabilities on the consolidated balance sheets and is deferred until control of these performance obligations is transferred to the customer. The following table presents the roll forward of the contract liability balances: December 31, 2020 $ 100.1 Deferral of revenue 363.3 Revenue recognized (381.3) September 30, 2021 $ 82.1 As of September 30, 2021 and December 31, 2020, the current portion of contract liabilities was $36.8 million and $44.6 million , respectively , and was included in other current liabilities on the balance sheet . Accounts receivable Accounts receivable, including unbilled accounts receivable contract assets, consist of the following: September 30, 2021 December 31, 2020 Billed, net $ 197.0 $ 172.7 Unbilled 57.6 58.2 Total, net $ 254.6 $ 230.9

Income taxes

Income taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The estimated effective annual tax rate at September 30, 2021 and 2020 for the years ended December 31, 2021 and 2020, excluding the impact of discrete adjustments, was 24% and 29%. For the nine months ended September 30, 2021 and 2020, the Company recorded discrete tax benefits of $7.2 million and $9.9 million, respectively. For the three months ended September 30, 2021 and 2020, the Company recorded a discrete tax benefits of $1.7 million and $3.3 million, respectively. The discrete tax benefits in 2021 and 2020 were primarily due to share-based compensation activity.

Net income per share

Net income per share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Net income per share	Net (loss) income per share The following table presents the calculation of basic and diluted net (loss) income per share: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Numerator: Net (loss) income $ (32.7) $ 39.5 $ 41.6 $ 119.7 Denominator: Weighted-average number of shares—basic 53.7 53.0 53.6 52.5 Dilutive securities—equity awards — 1.3 0.7 1.1 Weighted-average number of shares—diluted 53.7 54.3 54.3 53.6 Net (loss) income per share - basic $ (0.61) $ 0.75 $ 0.78 $ 2.28 Net (loss) income per share - diluted $ (0.61) $ 0.73 $ 0.77 $ 2.23 Basic net (loss) income per share is computed by dividing net (loss) income by the weighted average number of shares of common stock outstanding during the period. Diluted (loss) income per share is computed using the treasury method by dividing net (loss) income by the weighted average number of shares of common stock outstanding during the period, adjusted for the potential dilutive effect of other securities if such securities were converted or exercised and are not anti-dilutive. No adjustment for the potential dilutive effect of dilutive securities is reported for the three months ended September 30, 2021 as the effect would have been anti-dilutive due to the Company's net loss. The following table presents the share-based awards that are not considered in the diluted net (loss) income per share calculation because the exercise price of the awards was greater than the average per share closing price during the three and nine months ended September 30, 2021 and 2020. Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Anti-dilutive stock awards 1.4 — 0.6 —

Equity

Equity	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Equity	Equity Share-based compensation During the nine months ended September 30, 2021, the Company granted stock options to purchase 0.3 million shares of common stock and 0.6 million restricted and performance stock units under the Emergent BioSolutions Inc. Stock Incentive Plan. Typically, the stock option and restricted stock unit grants vest over three equal annual installments beginning on the day prior to the anniversary of the grant date. The performance stock units settle in stock at the end of the three-year performance period based on the Company's results compared to the performance criteria. Share-based compensation expense was recorded in the following financial statement line items: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Cost of product sales $ 1.3 $ 1.8 $ 4.5 $ 7.5 Cost of contract development and manufacturing 0.3 0.2 0.8 3.3 Research and development 1.4 0.6 4.5 6.9 Selling, general and administrative 7.4 7.4 22.5 23.3 Total share-based compensation expense $ 10.4 $ 10.0 $ 32.3 $ 41.0 Accumulated other comprehensive income (loss) The following table includes changes in accumulated other comprehensive (loss) income by component, net of tax: (In Millions) Defined Benefit Pension Plan Derivative Instruments Foreign Currency Translation Losses Total Balance, December 31, 2020 (7.7) (11.0) (6.6) (25.3) Other comprehensive (loss) income before reclassifications — (0.7) (1.4) (2.1) Amounts reclassified from accumulated other comprehensive income — 4.3 — 4.3 Balance, September 30, 2021 $ (7.7) $ (7.4) $ (8.0) $ (23.1) Balance, June 30, 2021 (7.7) (6.4) (8.3) (22.4) Other comprehensive (loss) income before reclassifications — (2.3) 0.3 (2.0) Amounts reclassified from accumulated other comprehensive income — 1.3 — 1.3 Balance, September 30, 2021 $ (7.7) $ (7.4) $ (8.0) $ (23.1) Balance, December 31, 2019 (3.4) (1.6) (4.9) (9.9) Other comprehensive (loss) income before reclassifications — (8.4) (0.6) (9.0) Amounts reclassified from accumulated other comprehensive income — (2.5) — (2.5) Balance, September 30, 2020 $ (3.4) $ (12.5) $ (5.5) $ (21.4) Balance, June 30, 2020 (3.4) (13.5) (5.3) (22.2) Other comprehensive (loss) income before reclassifications — 2.4 (0.2) 2.2 Amounts reclassified from accumulated other comprehensive income — (1.4) — (1.4) Balance, September 30, 2020 $ (3.4) $ (12.5) $ (5.5) $ (21.4) During the three and nine months ended September 30, 2021, the tax impact related to unrealized gains (losses) on hedging activities was a (benefit) expense of $(2.2) million and $(1.4) million, respectively; the tax effects of the defined benefit pension plan and foreign currency translation losses were de minimis. During the three and nine ended September 30, 2020 there were tax (benefit) expense related to unrealized losses on hedging activities of

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Securities and Shareholder Litigation On April 20, 2021, May 14, 2021 and June 2, 2021 class action lawsuits were filed against the Company and certain of its current and former senior officers in the United States District Court for the District of Maryland on behalf of purchasers of the Company's common stock, seeking to pursue remedies under the Securities Exchange Act of 1934 (the “Exchange Act”). These complaints were filed by Plaintiff Palm Tran, Inc. – Amalgamated Transit Union Local 1577 Pension Plan; Plaintiff Alan I. Roth; and Plaintiff Stephen M. Weiss, respectively. The complaints allege, among other things, that the defendants disseminated materially false and misleading information about its capabilities to manufacture COVID-19 vaccine bulk drug substance in violation of Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5 promulgated thereunder. The defendants believe that the allegations in the complaints are without merit and intend to defend the matters vigorously. It is expected that all three of these cases will be consolidated into a single action. Given the uncertainty of litigation, the preliminary stage of the cases, and the legal standards that must be met for, among other things, class certification and success on the merits, the Company cannot reasonably estimate the possible loss or range of loss, if any, that may result from these actions. On June 29, 2021, Lincolnshire Police Pension Fund filed a stockholder derivative lawsuit in the United States District Court for the District of Maryland on behalf of the Company against certain of its current and former officers and directors for breach of fiduciary duties, waste of corporate assets, and unjust enrichment, each allegation related to the Company’s capabilities to manufacture COVID-19 vaccine bulk drug substance. In addition to monetary damages, the complaint seeks the implementation of multiple corporate governance and internal policy changes. The defendants believe that the allegations in the complaint are without merit and intend to defend the matter vigorously. On September 15, 2021 and September 16, 2021, stockholder derivative lawsuits were filed by Chang Kyum Kim and Mark Nevins in The Court of Chancery of the State of Delaware on behalf of the Company against certain of its current and former officers and directors for breach of fiduciary duties, unjust enrichment and insider trading, each allegation related to the Company’s capabilities to manufacture COVID-19 vaccine bulk drug substance. In addition to monetary damages, the complaints seek the implementation of multiple corporate governance and internal policy changes. The defendants believe that the allegations in the complaints are without merit and intend to defend the matters vigorously. It is expected that both of these cases will be consolidated into a single action. In addition to the above actions, the Company has received preliminary inquiries and subpoenas to produce documents related to these matters from Representative Maloney and Representative Clyburn, members of the Oversight Committee and the Select Subcommittee on the Coronavirus Crisis, Senator Murray of the Committee on Health, Education, Labor and Pensions, the Financial Industry Regulatory Authority (FINRA), the Department of Justice, the Securities and Exchange Commission (SEC), the Maryland Attorney General’s Office, and the New York Attorney General’s Office. The Company is producing and has produced documents as required in response and will continue to cooperate with these government inquiries. Intellectual Property Emergent BioSolutions’ Adapt Pharma subsidiaries (“Emergent”) are as follows: Emergent Devices Inc. (“EBPA”), formerly known as Adapt Pharma Inc.; Emergent Operations Ireland Limited (“EIRE”), formerly known as Adapt Pharma Operations Limited; and Emergent BioSolutions Ireland Limited (“EIR2”), formerly known as Adapt Pharma Limited. ANDA Litigation - Teva 4mg Emergent BioSolutions’ Adapt Pharma subsidiaries EBPA and EIRE, and Opiant Pharmaceuticals Inc. (“Opiant”) received notice letters from Teva Pharmaceuticals Industries Limited and Teva Pharmaceuticals USA (collectively, “Teva”) that Teva had filed an Abbreviated New Drug Application (“ANDA”) with the FDA seeking regulatory approval to market a generic version of NARCAN® (naloxone hydrochloride) Nasal Spray 4 mg/spray before the expiration of certain patents listed on the FDA’s website for Approved Drug Products with Therapeutic Equivalence Evaluations (“Orange Book Listed Patents”) for NARCAN®. Teva’s notice letters alleged that claims of certain Orange Book Listed Patents for NARCAN® were invalid and/or would not be infringed by the activities described in Teva’s ANDA. Emergent and Opiant filed complaints against Teva in the U.S. District Court for the District of New Jersey alleging infringement of certain Orange Book Listed Patents for NARCAN®. On June 5, 2020, the U.S. District Court for the District of New Jersey ruled in favor of Teva. Emergent appealed the District of New Jersey’s decision to the Court of Appeals for the Federal Circuit. The appeal hearing was held on August 2, 2021. A decision following the hearing is pending and anticipated before the end of 2021. Emergent has also filed suit in the Federal Court in Canada against Teva Pharmaceuticals. The litigation in Canada is related to Teva Pharmaceuticals’ filing of an abbreviated new drug submission (“ANDS”) in Canada seeking to manufacture and sell a generic form of NARCAN® Nasal Spray ahead of the expiry of the Canadian patent covering our product. The trial date is currently scheduled for the end of March 2022. ANDA Litigation - Teva 2mg Emergent BioSolutions’ Adapt Pharma subsidiaries EBPA and EIRE, and Opiant received a notice letter from Teva that Teva had filed an ANDA with the FDA seeking regulatory approval to market a generic version of NARCAN® (naloxone hydrochloride) Nasal Spray 2 mg/spray before the expiration of certain Orange Book Listed Patents for the 2 mg/spray dose of NARCAN®. Teva’s notice letter alleged that claims of certain Orange Book Listed Patents for the 2 mg/spray dose of NARCAN® were invalid and/or would not be infringed by the activities described in Teva’s ANDA. Emergent and Opiant filed complaints against Teva in the U.S. District Court for the District of New Jersey alleging infringement of certain Orange Book Listed Patents for the 2 mg/spray dose of NARCAN®. This case is currently stayed pending the outcome of the appeal of the NARCAN® Nasal Spray 4 mg/spray case.

Basis of Presentation and Pri_2

Basis of Presentation and Principles of Consolidation (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of presentation	The accompanying unaudited condensed consolidated financial statements include the accounts of Emergent and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. The unaudited condensed consolidated financial statements included herein have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X issued by the SEC. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC.All adjustments contained in the accompanying unaudited condensed consolidated financial statements are of a normal recurring nature and are necessary to present fairly the financial position of the Company as of September 30, 2021. Interim results are not necessarily indicative of results that may be expected for any other interim period or for an entire year.
Revenue	The Company performs CDMO services for third parties. Under these contracts, activities can include drug substance and drug product manufacturing services for injectable and other sterile products, and development services such as pharmaceutical product process development, process design, technology transfer, manufacturing validations, laboratory analytical development support, aseptic filling, lyophilization, final packaging, stability studies, and suite-reservations. These contracts vary in duration, activities, and number of performance obligations. Performance obligations identified under these arrangements may include drug substance and/or drug product manufacturing, technology transfer activities, and suite-reservations. Drug substance and drug product manufacturing performance obligations are recognized as revenue over-time because the Company’s performance does not create an asset with an alternative use and the Company has an enforceable right to payment for performance completed as work is performed. In drug product arrangements, the customer typically owns and supplies the active pharmaceutical ingredient, or API, that is used in the manufacturing process; in drug substance arrangements, the customer provides certain seed material that is used in the manufacturing process. The transaction price is stated in the agreement as a fixed price per unit, with no contractual provision for a refund or price concession. We use an input method to measure progress toward the satisfaction of the related performance obligations based on costs incurred as a percentage of total costs to complete which we believe best depicts the transfer of control of goods or services promised to our customers. For arrangements with development services or where we have identified technology transfer activities to be a separate performance obligation, revenues are recognized over-time as the service is provided as there is no alternative future use to the Company for the asset created and the Company has an enforceable right to payment for performance completed as of that date. We use an input method to measure progress toward the satisfaction of the related performance obligations based on costs incurred as a percentage of total costs to complete which we believe best depicts the transfer of control of goods or services promised to our customers. Suite reservations are classified as leases when the customer directs the use of the identified suite and obtains substantially all the economic benefits from the manufacturing capacity. If a customer reserves more than one suite, the allocation of contract value is based on relative selling price which varies due to size, location, capacity, production capability for drug product or drug substance, and the time of planned use. The associated revenue is recognized on a straight-line basis over the period of performance. For arrangements that contain both lease and non-lease components, consideration in the contract is allocated on a relative standalone selling price basis. The Company’s CDMO customer contracts generally include provisions entitling the Company to a termination penalty when the contract is terminated prior to the contract’s nominal end date. The termination penalties in the customer contracts vary but are generally considered substantive for accounting purposes and create enforceable rights and obligations throughout the stated duration of the contract. The Company accounts for a contract cancellation as a contract modification. The determination of the contract termination penalty is based on the terms stated in the related customer agreement. As of the modification date, the Company updates its estimate of the transaction price, subject to constraints, and recognizes the amount over the remaining performance period or measure of progress under the arrangement.
Fair value measurements	Separate disclosure is required for assets and liabilities measured at fair value on a recurring basis from those measured at fair value on a non-recurring basis. The Company has cash held in money market accounts (level 1) and time deposits (level 2), contingent purchase consideration (level 3) and interest rate swaps arrangements (level 2) that are measured at fair value on a recurring basis (Note 7 and Note 8). On a non-recurring basis, the Company measures its long-lived assets as part of impairment evaluations using fair value measurements. Goodwill is allocated to the Company's reporting units, which are one level below its operating segment. The Company evaluates goodwill and other indefinite-lived intangible assets for impairment annually as of October 1 and earlier if an event or other circumstance indicates that the carrying value of the asset may not be recoverable. If the Company believes that as a result of its qualitative assessment it is more likely than not that the fair value of a reporting unit or other indefinite-lived intangible asset is greater than its carrying amount, the quantitative impairment test is not required. If however it is determined that it is not more likely than not that the fair value of a reporting unit or other indefinite-lived intangible asset is greater than its carrying amount, a quantitative test is required. Long-lived assets such as intangible assets and property, plant and equipment are not required to be tested for impairment annually. Instead, long-lived assets are tested for impairment whenever circumstances indicate that the carrying amount of the asset may not be recoverable, such as when there is an adverse change in the market relating to those related assets. The impairment test first requires a comparison of undiscounted future cash flows to the carrying value of the asset. Determining the need for a detailed impairment analysis requires the exercise of judgment about several business factors, including the timing of expected future cash flows and assumptions about the economic environment.
Recently issued accounting standards	Recently Adopted ASU 2019-12, Simplifications to Accounting for Income Taxes ("ASU 2019-12") In December 2019, the FASB issued ASU 2019-12. ASU 2019-12 removes certain exceptions for recognizing deferred taxes for investments, performing intra-period allocation and calculating income taxes in interim periods. The ASU also adds guidance to reduce complexity in certain areas, including deferred taxes for goodwill and allocating taxes for members of a consolidated group. ASU 2019-12 is effective for all entities for fiscal years beginning after December 15, 2020, and earlier adoption is permitted. As of January 1, 2021, the Company adopted the standard, which did not have a material impact on the Company's consolidated financial statements. Not Yet Adopted ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting
Lessor, Leases	At each reporting period, the Company must assess whether it is probable that the Company will collect all future lease payments associated with each lease contract. The collectibility of lease arrangements is a binary assessment of whether or not substantially all of the amounts due under a lease agreement are probable of collection. The Company considers payment history and current credit status when assessing collectibility. If the collectibility of the lease payments is probable at lease commencement and during the remaining term of the lease, the Company recognizes lease income over the term of the lease on a straight-line basis unless another systematic or rational basis better represents the pattern in which benefit is expected to be derived from the use of the underlying assets. If collectibility is not deemed probable at lease commencement date or at any time during the term of the lease, the Company’s lease income is limited to the lesser of (i) the lease payments that have been collected from the lessee, or the straight-line recognition of the contract value. If the collectibility assessment changes to not probable after the lease commencement date, lease income is reversed to the extent that the lease payments from the lessee are less than the lease income recognized to date. If the collectibility assessment changes to probable after the Company has determined collectibility is not deemed probable, any difference between the lease income that would have been recognized if collectibility had always been assessed as probable and the lease income recognized to date is recognized as a current-period adjustment to lease income. Changes to the collectibility of operating leases are recorded as adjustments to lease income in the consolidated statements of operations in the period that they occur.

Accounting Policies (Tables)

Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	These adjustments resulted in the following out-of-period adjustments: Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Contract development and manufacturing revenue: Services 49.3 28.8 Leases (11.0) (5.5) Total contract development and manufacturing revenue 38.3 23.3 Cost of CDMO 36.9 16.2 Income before income taxes 1.4 7.1 Net income 1.1 5.3

Inventories, net (Tables)

Inventories, net (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventories	The components of inventory are as follows: September 30, 2021 December 31, 2020 Raw materials and supplies $ 198.8 $ 160.6 Work-in-process 107.3 102.5 Finished goods 58.5 43.9 Total inventories, net $ 364.6 $ 307.0

Property, plant and equipment_2

Property, plant and equipment, net (Tables)	9 Months Ended
	Sep. 30, 2021
Property Plant and Equipment Income Statement Disclosures [Abstract]
Property, plant and equipment	Property, plant and equipment, net consisted of the following: September 30, 2021 December 31, 2020 Land and improvements $ 51.5 $ 52.7 Buildings, building improvements and leasehold improvements 267.7 246.3 Furniture and equipment 490.8 362.1 Software 61.1 58.7 Construction-in-progress 201.4 183.4 Property, plant and equipment, gross 1,072.5 903.2 Accumulated depreciation (303.8) (259.1) Total property, plant and equipment, net $ 768.7 $ 644.1

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Lease, Cost	The components of lease expense were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Operating lease cost: Amortization of right-of-use assets $ 1.4 $ 1.1 $ 4.2 $ 3.2 Interest on lease liabilities 0.3 0.2 1.0 0.8 Total operating lease cost $ 1.7 $ 1.3 $ 5.2 $ 4.0
Schedule of Leases Supplemental Balance Sheets	Supplemental balance sheet information related to leases was as follows: (In millions, except lease term and discount rate) Balance Sheet location September 30, 2021 December 31, 2020 Operating lease right-of-use assets Other assets $ 28.4 $ 31.0 Operating lease liabilities, current portion Other current liabilities 5.7 5.4 Operating lease liabilities Other liabilities 24.5 27.8 Total operating lease liabilities $ 30.2 $ 33.2 Operating leases: Weighted average remaining lease term (years) 7.1 7.7 Weighted average discount rate 4.0 % 4.1 %

Intangible assets (Tables)

Intangible assets (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The following tables summarize the Company's intangible assets for the periods ended September 30, 2021 and December 31, 2020: September 30, 2021 December 31, 2020 Asset Type Estimated Life Cost Accumulated Amortization Net Cost Accumulated Amortization Net Products 9-22 years $ 798.0 $ 179.7 $ 618.3 $ 798.0 $ 137.8 $ 660.2 Customer relationships 8 years 28.6 28.6 — 28.6 26.5 2.1 CDMO 8 years 5.5 5.2 0.3 5.5 4.7 0.8 Total intangible assets $ 832.1 $ 213.5 $ 618.6 $ 832.1 $ 169.0 $ 663.1
Schedule of Goodwill	The following table provides a roll forward of changes in our goodwill balance: Goodwill, December 31, 2020 $ 266.7 Foreign currency translation (0.2) Goodwill, September 30, 2021 $ 266.5
Finite-lived Intangible Assets Amortization Expense	Amortization expense associated with the Company's intangible assets was recorded as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Amortization Expense $ 14.5 $ 15.0 $ 44.5 $ 44.8

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring	The table below presents information about our assets and liabilities that are regularly measured and carried at fair value and indicate the level within the fair value hierarchy of the valuation techniques we utilized to determine fair value: September 30, 2021 December 31, 2020 Total Level1 Level 2 Level 3 Total Level1 Level 2 Level 3 Assets: Money market accounts $ 52.4 52.4 — — $ 352.2 352.2 — — Time deposits 180.0 — 180.0 — — — — — Total $ 232.4 52.4 180.0 — $ 352.2 352.2 — — Liabilities: Contingent consideration $ 37.7 — — 37.7 $ 58.1 — — 58.1 Derivative instruments 10.1 — 10.1 — 15.0 — 15.0 — Total $ 47.8 — 10.1 37.7 $ 73.1 — 15.0 58.1
Reconciliation of Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3)	The following table is a reconciliation of the beginning and ending balance of contingent considerations. Balance at December 31, 2020 $ 58.1 Change in fair value 2.6 Settlements (23.0) Balance at September 30, 2021 $ 37.7
Fair Value Measurement Inputs and Valuation Techniques	The recurring Level 3 fair value measurements for the Company's contingent consideration liability include the following significant unobservable inputs: Contingent Consideration Liability Fair Value as of September 30, 2021 Valuation Technique Unobservable Input Range Weighted Average Revenue milestone and royalty based $37.7 million Discounted cash flow Discount rate —% - 7.4% 1.5% Probability of payment 25% - 100% 87% Projected year of payment 2021 - 2028 2022

Derivative instruments and he_2

Derivative instruments and hedging activities (Tables)	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	As of September 30, 2021, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk: Number of Instruments Notional Interest rate swaps 7 $ 350.0
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The table below presents the fair value of the Company’s derivative financial instruments designated as hedges as well as their classification on the balance sheet. Liability Derivatives September 30, 2021 December 31, 2020 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Interest Rate Swaps Other Current Liabilities $ 5.7 Other Current Liabilities $ 5.7 Other Liabilities $ 4.4 Other Liabilities $ 9.3
Derivative Instruments, Gain (Loss)	The table below presents the effect of cash flow hedge accounting on accumulated other comprehensive income. Hedging derivatives Cumulative Amount of Gain/(Loss) Recognized in OCI on Derivative Location of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income September 30, December 31, Nine Months Ended September 30, 2021 2020 2021 2020 Interest Rate Swaps $ (10.1) $ (15.0) Interest expense $ (4.3) $ (2.5)

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Debt	The components of debt are as follows: September 30, 2021 December 31, 2020 Senior secured credit agreement - Term loan due 2023 $ 405.0 $ 421.9 3.875% Senior Unsecured Notes due 2028 450.0 450.0 2.875% Convertible Senior Notes due 2021 — 10.6 Other 3.0 3.0 Total debt 858.0 885.5 Current portion of long-term debt, net of debt issuance costs (31.6) (33.8) Unamortized debt issuance costs (9.1) (10.7) Non-current portion of debt $ 817.3 $ 841.0

Revenue recognition (Tables)

Revenue recognition (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The Company's revenues disaggregated by the major sources were as follows: Three Months Ended September 30, 2021 Three Months Ended September 30, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Product sales, net $ 129.9 $ 140.6 $ 270.5 $ 102.4 $ 99.8 $ 202.2 Contract development and manufacturing: Services — 112.6 112.6 — 53.1 53.1 Leases (86.0) 15.0 (71.0) 85.9 18.1 104.0 Total contract development and manufacturing (86.0) 127.6 41.6 85.9 71.2 157.1 Contracts and grants 16.3 0.6 16.9 24.9 1.0 25.9 Total revenues $ 60.2 $ 268.8 $ 329.0 $ 213.2 $ 172.0 $ 385.2 Nine Months Ended September 30, 2021 Nine Months Ended September 30, 2020 U.S. Non-U.S. Total U.S. Non-U.S. Total Product sales, net $ 252.6 $ 337.0 $ 589.6 $ 390.5 $ 258.4 $ 648.9 Contract development and manufacturing: Services — 283.7 283.7 — 102.7 102.7 Leases 81.9 50.7 132.6 130.6 18.1 148.7 Total contract development and manufacturing 81.9 334.4 416.3 130.6 120.8 251.4 Contracts and grants 60.7 2.9 63.6 67.6 4.5 72.1 Total revenues $ 395.2 $ 674.3 $ 1,069.5 $ 588.7 $ 383.7 $ 972.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	The Company has allocated contracted o perating lease revenues due under our long-term CDMO service arrangements with non-USG customers as follows: Year ended December 31, 2021 (1) $ 11.5 2022 45.8 2023 45.8 2024 11.5 $ 114.6 (1) As of September 30, 2021, amount represents the three months ending December 31, 2021.
Rollforward of Contract Liabilities	The following table presents the roll forward of the contract liability balances: December 31, 2020 $ 100.1 Deferral of revenue 363.3 Revenue recognized (381.3) September 30, 2021 $ 82.1
Schedule of Accounts Receivable, Net	Accounts receivable, including unbilled accounts receivable contract assets, consist of the following: September 30, 2021 December 31, 2020 Billed, net $ 197.0 $ 172.7 Unbilled 57.6 58.2 Total, net $ 254.6 $ 230.9

Net income per share (Tables)

Net income per share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Basic and Diluted Net Income per Share	The following table presents the calculation of basic and diluted net (loss) income per share: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Numerator: Net (loss) income $ (32.7) $ 39.5 $ 41.6 $ 119.7 Denominator: Weighted-average number of shares—basic 53.7 53.0 53.6 52.5 Dilutive securities—equity awards — 1.3 0.7 1.1 Weighted-average number of shares—diluted 53.7 54.3 54.3 53.6 Net (loss) income per share - basic $ (0.61) $ 0.75 $ 0.78 $ 2.28 Net (loss) income per share - diluted $ (0.61) $ 0.73 $ 0.77 $ 2.23
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table presents the share-based awards that are not considered in the diluted net (loss) income per share calculation because the exercise price of the awards was greater than the average per share closing price during the three and nine months ended September 30, 2021 and 2020. Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Anti-dilutive stock awards 1.4 — 0.6 —

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Share-based Payment Arrangement, Expensed and Capitalized, Amount	Share-based compensation expense was recorded in the following financial statement line items: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Cost of product sales $ 1.3 $ 1.8 $ 4.5 $ 7.5 Cost of contract development and manufacturing 0.3 0.2 0.8 3.3 Research and development 1.4 0.6 4.5 6.9 Selling, general and administrative 7.4 7.4 22.5 23.3 Total share-based compensation expense $ 10.4 $ 10.0 $ 32.3 $ 41.0
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table includes changes in accumulated other comprehensive (loss) income by component, net of tax: (In Millions) Defined Benefit Pension Plan Derivative Instruments Foreign Currency Translation Losses Total Balance, December 31, 2020 (7.7) (11.0) (6.6) (25.3) Other comprehensive (loss) income before reclassifications — (0.7) (1.4) (2.1) Amounts reclassified from accumulated other comprehensive income — 4.3 — 4.3 Balance, September 30, 2021 $ (7.7) $ (7.4) $ (8.0) $ (23.1) Balance, June 30, 2021 (7.7) (6.4) (8.3) (22.4) Other comprehensive (loss) income before reclassifications — (2.3) 0.3 (2.0) Amounts reclassified from accumulated other comprehensive income — 1.3 — 1.3 Balance, September 30, 2021 $ (7.7) $ (7.4) $ (8.0) $ (23.1) Balance, December 31, 2019 (3.4) (1.6) (4.9) (9.9) Other comprehensive (loss) income before reclassifications — (8.4) (0.6) (9.0) Amounts reclassified from accumulated other comprehensive income — (2.5) — (2.5) Balance, September 30, 2020 $ (3.4) $ (12.5) $ (5.5) $ (21.4) Balance, June 30, 2020 (3.4) (13.5) (5.3) (22.2) Other comprehensive (loss) income before reclassifications — 2.4 (0.2) 2.2 Amounts reclassified from accumulated other comprehensive income — (1.4) — (1.4) Balance, September 30, 2020 $ (3.4) $ (12.5) $ (5.5) $ (21.4)

Business (Details)

Business (Details)	9 Months Ended
	Sep. 30, 2021productCandidatesegmentproductcategory
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of categories of public health threats | category	5
Number of revenue generating products | product	10
Number of product candidates | productCandidate	2
Number of operating segments | segment	1

Basis of Presentation and Pri_3

Basis of Presentation and Principles of Consolidation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Income before income taxes	$ (45.5)	$ 55	$ 46.9	$ 154.4
Net income	(32.7)	39.5	41.6	119.7
Revision of Prior Period, Adjustment
Disaggregation of Revenue [Line Items]
Income before income taxes	1.4		7.1
Net income	1.1		5.3
Total contract development and manufacturing
Disaggregation of Revenue [Line Items]
Total contract development and manufacturing	41.6	157.1	416.3	251.4
Total contract development and manufacturing | Revision of Prior Period, Adjustment
Disaggregation of Revenue [Line Items]
Total contract development and manufacturing	38.3		23.3
Services
Disaggregation of Revenue [Line Items]
Services	112.6	53.1	283.7	102.7
Cost of CDMO	114.3	28.8	307.6	68.1
Services | Revision of Prior Period, Adjustment
Disaggregation of Revenue [Line Items]
Services	49.3		28.8
Cost of CDMO	36.9		16.2
Leases
Disaggregation of Revenue [Line Items]
Leases	(71)	$ 104	132.6	$ 148.7
Leases | Revision of Prior Period, Adjustment
Disaggregation of Revenue [Line Items]
Leases	$ (11)		$ (5.5)

Inventories, net (Details)

Inventories, net (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 198.8	$ 160.6
Work-in-process	107.3	102.5
Finished goods	58.5	43.9
Total inventories, net	$ 364.6	$ 307

Inventories, net - Additional I

Inventories, net - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Inventory Disclosure [Abstract]
Inventory write-offs	$ 41.5

Property, plant and equipment_3

Property, plant and equipment, net (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	$ 1,072.5	$ 903.2
Accumulated depreciation	(303.8)	(259.1)
Total property, plant and equipment, net	768.7	644.1
Land and improvements
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	51.5	52.7
Buildings, building improvements and leasehold improvements
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	267.7	246.3
Furniture and equipment
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	490.8	362.1
Software
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	61.1	58.7
Construction-in-progress
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	$ 201.4	$ 183.4

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Operating lease cost:
Amortization of right-of-use assets	$ 1.4	$ 1.1	$ 4.2	$ 3.2
Interest on lease liabilities	0.3	0.2	1	0.8
Total operating lease cost	$ 1.7	$ 1.3	$ 5.2	$ 4

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Operating Leases
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets
Operating lease right-of-use assets	$ 28.4	$ 31
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities
Operating lease liabilities, current portion	$ 5.7	5.4
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities
Operating lease liabilities	$ 24.5	27.8
Total operating lease liabilities	$ 30.2	$ 33.2
Operating leases:
Weighted average remaining lease term (years)	7 years 1 month 6 days	7 years 8 months 12 days
Operating leases:
Weighted average discount rate	4.00%	4.10%

Intangible assets - Schedule of

Intangible assets - Schedule of Finite-lived Intangible Assets (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Cost
Intangible assets, gross	$ 832.1	$ 832.1
Finite-lived intangible assets, accumulated amortization	213.5	169
Intangible assets, net	618.6	663.1
Products
Cost
Intangible assets, gross	798	798
Finite-lived intangible assets, accumulated amortization	179.7	137.8
Intangible assets, net	$ 618.3	660.2
Products | Minimum
Finite-Lived Intangible Assets [Line Items]
Amortization period of intangible asset	9 years
Products | Maximum
Finite-Lived Intangible Assets [Line Items]
Amortization period of intangible asset	22 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Amortization period of intangible asset	8 years
Cost
Intangible assets, gross	$ 28.6	28.6
Finite-lived intangible assets, accumulated amortization	28.6	26.5
Intangible assets, net	$ 0	2.1
CDMO
Finite-Lived Intangible Assets [Line Items]
Amortization period of intangible asset	8 years
Cost
Intangible assets, gross	$ 5.5	5.5
Finite-lived intangible assets, accumulated amortization	5.2	4.7
Intangible assets, net	$ 0.3	$ 0.8

Intangible assets - Finite-live

Intangible assets - Finite-lived Intangible Assets Amortization Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization Expense	$ 14.5	$ 15	$ 44.5	$ 44.8

Intangible assets - Narrative (

Intangible assets - Narrative (Details)	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Weighted average amortization period	12 years 1 month 6 days

Intangible assets - Goodwill Ro

Intangible assets - Goodwill Roll Forward (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Goodwill [Roll Forward]
Goodwill, December 31, 2020	$ 266.7
Foreign currency translation	(0.2)
Goodwill, September 30, 2021	$ 266.5

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Hierarchy of Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 232.4	$ 352.2
Contingent consideration	37.7	58.1
Derivative instruments	10.1	15
Total	47.8	73.1
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	52.4	352.2
Contingent consideration	0	0
Derivative instruments	0	0
Total	0	0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	180	0
Contingent consideration	0	0
Derivative instruments	10.1	15
Total	10.1	15
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0	0
Contingent consideration	37.7	58.1
Derivative instruments	0	0
Total	37.7	58.1
Money market accounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	52.4	352.2
Money market accounts | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	52.4	352.2
Money market accounts | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Money market accounts | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	180	0
Time deposits | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Time deposits | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	180	0
Time deposits | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	$ 0

Fair Value Measurements - Conti

Fair Value Measurements - Contingent Consideration Roll Forward (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Unobservable Input Reconciliation [Roll Forward]
Balance, beginning of period	$ 58.1
Change in fair value	2.6
Settlements	(23)
Balance, end of period	$ 37.7

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020	Aug. 07, 2020
Debt Instrument [Line Items]
Business combination, contingent consideration, liability, current	$ 32.6	$ 23.9
3.875% Senior Unsecured Notes due 2028 | Senior Notes
Debt Instrument [Line Items]
Stated percentage	3.875%	3.875%	3.875%
Long-term debt, fair value	$ 438.8	$ 466

Fair Value Measurements - Fai_2

Fair Value Measurements - Fair Value Level 3 of Significant Unobservable Inputs (Details) $ in Millions	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis, liability value	$ 37.7	$ 58.1
Discounted cash flow | Fair Value, Inputs, Level 3 | Fair Value, Recurring
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis, liability value	$ 37.7
Discounted cash flow | Fair Value, Inputs, Level 3 | Fair Value, Recurring | Discount rate | Minimum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Business combination, contingent consideration, liability, measurement input	0
Discounted cash flow | Fair Value, Inputs, Level 3 | Fair Value, Recurring | Discount rate | Maximum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Business combination, contingent consideration, liability, measurement input	0.074
Discounted cash flow | Fair Value, Inputs, Level 3 | Fair Value, Recurring | Discount rate | Weighted Average
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Business combination, contingent consideration, liability, measurement input	0.015
Discounted cash flow | Fair Value, Inputs, Level 3 | Fair Value, Recurring | Probability of payment | Minimum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Business combination, contingent consideration, liability, measurement input	0.25
Discounted cash flow | Fair Value, Inputs, Level 3 | Fair Value, Recurring | Probability of payment | Maximum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Business combination, contingent consideration, liability, measurement input	1
Discounted cash flow | Fair Value, Inputs, Level 3 | Fair Value, Recurring | Probability of payment | Weighted Average
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Business combination, contingent consideration, liability, measurement input	0.87

Derivative instruments and he_3

Derivative instruments and hedging activities - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Net deferred losses from accumulated other comprehensive loss	$ 5.7

Derivative instruments and he_4

Derivative instruments and hedging activities - Derivative Designated as Cash Flow Hedges (Details) - Designated as Hedging Instrument - Interest rate swaps $ in Millions	Sep. 30, 2021USD ($)instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of Instruments | instrument	7
Notional | $	$ 350

Derivative instruments and he_5

Derivative instruments and hedging activities - Fair Value by Balance Sheet Location (Details) - Interest rate swaps - Designated as Hedging Instrument - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Other Current Liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 5.7	$ 5.7
Other Liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 4.4	$ 9.3

Derivative instruments and he_6

Derivative instruments and hedging activities - Cash Flow Hedging on AOCI (Details) - Interest rate swaps - USD ($) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income	$ (10.1)		$ (15)
Cash Flow Hedging | Interest expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income	$ (4.3)	$ (2.5)

Debt - Schedule (Details)

Debt - Schedule (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020	Aug. 07, 2020	Jan. 29, 2014
Debt Instrument [Line Items]
Total debt	$ 858	$ 885.5
Current portion of long-term debt, net of debt issuance costs	(31.6)	(33.8)
Unamortized debt issuance costs	(9.1)	(10.7)
Non-current portion of debt	817.3	841
Term Loan
Debt Instrument [Line Items]
Total debt	$ 405	$ 421.9
3.875% Senior Unsecured Notes due 2028 | Senior Notes
Debt Instrument [Line Items]
Stated percentage	3.875%	3.875%	3.875%
Total debt	$ 450	$ 450	$ 450
2.875% Convertible Senior Notes due 2021
Debt Instrument [Line Items]
Stated percentage	2.875%			2.875%
2.875% Convertible Senior Notes due 2021 | Convertible Debt
Debt Instrument [Line Items]
Total debt	$ 0	10.6
Other
Debt Instrument [Line Items]
Total debt	$ 3	$ 3

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Millions	Aug. 07, 2020	Sep. 30, 2021	Dec. 31, 2020	Jan. 29, 2014
Debt Instrument [Line Items]
Debt issuance costs, net			$ 3.5
Debt issuance costs, current, net			2
Long-term debt		$ 858	$ 885.5
Debt instrument, covenant, net leverage ratio rolling period	12 months
Debt instrument, covenant, net leverage ratio adjustment period	12 months
Other Current Assets
Debt Instrument [Line Items]
Debt issuance costs, net		2
Other Assets
Debt Instrument [Line Items]
Debt issuance costs, net		$ 2
3.875% Senior Unsecured Notes due 2028 | Prior to August 15, 2023
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage	100.00%
3.875% Senior Unsecured Notes due 2028 | Senior Notes
Debt Instrument [Line Items]
Stated percentage	3.875%	3.875%	3.875%
Long-term debt	$ 450	$ 450	$ 450
3.875% Senior Unsecured Notes due 2028 | Maximum | Prior to August 15, 2023
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage	40.00%
3.875% Senior Unsecured Notes due 2028 | Maximum | Upon the occurrence of a change in control
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage	101.00%
Amended Credit Agreement | Minimum
Debt Instrument [Line Items]
Commitment fee percentage	0.15%
Debt covenant, consolidated debt service coverage ratio, minimum	2.50
Amended Credit Agreement | Maximum
Debt Instrument [Line Items]
Commitment fee percentage	0.35%
Debt instrument, covenant, net leverage ratio, maximum	4.50
Debt instrument, covenant, net leverage ratio, adjustment	5
Amended Credit Agreement | Eurocurrency
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Amended Credit Agreement | Eurocurrency | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.25%
Amended Credit Agreement | Eurocurrency | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.25%
Amended Credit Agreement | Federal Funds Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Amended Credit Agreement | Base Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.25%
Amended Credit Agreement | Base Rate | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.25%
2.875% Convertible Senior Notes due 2021
Debt Instrument [Line Items]
Stated percentage		2.875%		2.875%
Revolving Credit Facility | Amended Credit Agreement
Debt Instrument [Line Items]
Current borrowing capacity	$ 600
Term Loan Facility | Amended Credit Agreement
Debt Instrument [Line Items]
Current borrowing capacity	$ 450
Percentage of original principal amount required to repay in the first two years	2.50%
Percentage of original principal amount required to repay during the third year	5.00%
Percentage of original principal amount required to repay remaining year	7.50%
Cash proceeds excess amount from dispositions of property or casualty events subject to certain reinvestment right	$ 100
Debt instrument, covenant, consideration threshold	$ 75

Revenue recognition - Narrative

Revenue recognition - Narrative (Details)	3 Months Ended				9 Months Ended
	Dec. 31, 2021USD ($)	Sep. 30, 2021USD ($)	Mar. 31, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)segment	Sep. 30, 2020USD ($)	Nov. 01, 2021USD ($)	Dec. 31, 2020USD ($)
Disaggregation of Revenue [Line Items]
Number of operating segments | segment					1
Operating lease, lease income reversal					$ 86,100,000	$ 0
Revenues		$ 329,000,000		$ 385,200,000	1,069,500,000	972,400,000
Deferred revenue		82,100,000			82,100,000			$ 100,100,000
Research and development		49,600,000		84,400,000	151,000,000	175,000,000
Revenue, remaining performance obligation, amount		1,500,000,000			1,500,000,000
Contract with customer, liability, cumulative catch-up adjustment to revenue, modification of contract		200,000,000
Contract liabilities		400,000,000			(19,500,000)	(9,000,000)
Contract with customer, asset, noncurrent		38,000,000			38,000,000			41,100,000
Capitalized contract cost, amortization		1,700,000	$ 0		3,300,000
Current portion of contract liabilities		36,800,000			36,800,000			44,600,000
Allowance for doubtful accounts receivable		3,200,000			3,200,000			3,100,000
Contracts and grants
Disaggregation of Revenue [Line Items]
Revenues		16,900,000		25,900,000	63,600,000	72,100,000
BARDA
Disaggregation of Revenue [Line Items]
Lessor, operating lease, payments to be received		650,800,000			650,800,000			628,200,000
Operating lease, lease income reversal		86,000,000
Lease revenue				85,900,000	81,900,000	130,500,000
Deferred revenue		55,200,000			55,200,000
BARDA | Subsequent Event
Disaggregation of Revenue [Line Items]
Lessor, operating lease, payments to be received							$ 470,900,000
BARDA | Subsequent Event | Forecast
Disaggregation of Revenue [Line Items]
Lease revenue	$ 155,700,000
Revenues	215,900,000
Research and development	38,200,000
BARDA | Subsequent Event | Forecast | Contracts and grants
Disaggregation of Revenue [Line Items]
Revenues	$ 60,200,000
U.S. Government
Disaggregation of Revenue [Line Items]
Revenues		60,200,000		213,200,000	395,200,000	588,700,000
U.S. Government | Contracts and grants
Disaggregation of Revenue [Line Items]
Revenues		16,300,000		24,900,000	60,700,000	67,600,000
Non-U.S. Government
Disaggregation of Revenue [Line Items]
Revenues		$ 268,800,000		172,000,000	$ 674,300,000	383,700,000
Lessee, operating lease, remaining lease term		2 years 6 months			2 years 6 months
Non-U.S. Government | Contracts and grants
Disaggregation of Revenue [Line Items]
Revenues		$ 600,000		$ 1,000,000	$ 2,900,000	$ 4,500,000
Reservation Of Manufacturing Capacity | BARDA
Disaggregation of Revenue [Line Items]
Lessor, operating lease, payments to be received								542,700,000
Accelerated Expansion Of Fill/Finish Capacity | BARDA
Disaggregation of Revenue [Line Items]
Lessor, operating lease, payments to be received								$ 85,500,000
CIADM | BARDA
Disaggregation of Revenue [Line Items]
Lessor, operating lease, payments to be received		$ 163,200,000			$ 163,200,000
CIADM | BARDA | Subsequent Event
Disaggregation of Revenue [Line Items]
Lessor, operating lease, payments to be received							$ 140,500,000

Revenue recognition - Disaggreg

Revenue recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Total revenues	$ 329	$ 385.2	$ 1,069.5	$ 972.4
U.S. Government
Disaggregation of Revenue [Line Items]
Total revenues	60.2	213.2	395.2	588.7
Non-U.S. Government
Disaggregation of Revenue [Line Items]
Total revenues	268.8	172	674.3	383.7
Product sales, net
Disaggregation of Revenue [Line Items]
Revenues	270.5	202.2	589.6	648.9
Product sales, net | U.S. Government
Disaggregation of Revenue [Line Items]
Revenues	129.9	102.4	252.6	390.5
Product sales, net | Non-U.S. Government
Disaggregation of Revenue [Line Items]
Revenues	140.6	99.8	337	258.4
Total contract development and manufacturing
Disaggregation of Revenue [Line Items]
Total contract development and manufacturing	41.6	157.1	416.3	251.4
Total contract development and manufacturing | U.S. Government
Disaggregation of Revenue [Line Items]
Total contract development and manufacturing	(86)	85.9	81.9	130.6
Total contract development and manufacturing | Non-U.S. Government
Disaggregation of Revenue [Line Items]
Total contract development and manufacturing	127.6	71.2	334.4	120.8
Services
Disaggregation of Revenue [Line Items]
Revenues	112.6	53.1	283.7	102.7
Services | U.S. Government
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Services | Non-U.S. Government
Disaggregation of Revenue [Line Items]
Revenues	112.6	53.1	283.7	102.7
Leases
Disaggregation of Revenue [Line Items]
Leases	(71)	104	132.6	148.7
Leases | U.S. Government
Disaggregation of Revenue [Line Items]
Leases	(86)	85.9	81.9	130.6
Leases | Non-U.S. Government
Disaggregation of Revenue [Line Items]
Leases	15	18.1	50.7	18.1
Contracts and grants
Disaggregation of Revenue [Line Items]
Revenues	16.9	25.9	63.6	72.1
Contracts and grants | U.S. Government
Disaggregation of Revenue [Line Items]
Revenues	16.3	24.9	60.7	67.6
Contracts and grants | Non-U.S. Government
Disaggregation of Revenue [Line Items]
Revenues	$ 0.6	$ 1	$ 2.9	$ 4.5

Revenue recognition - Performan

Revenue recognition - Performance Obligations (Details) $ in Millions	Sep. 30, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 1,500
Leases
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 114.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	24 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01 | Leases
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 11.5
Revenue, remaining performance obligation, expected timing of satisfaction, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | Leases
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 45.8
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | Leases
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 45.8
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | Leases
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 11.5
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year

Revenue recognition - Remaining

Revenue recognition - Remaining Performance Obligation (Details)	Sep. 30, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	24 months

Revenue recognition - Contract

Revenue recognition - Contract Liabilities (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Change in Contract With Customer, Liability [Roll Forward]
Beginning of period	$ 100.1
Deferral of revenue	363.3
Revenue recognized	(381.3)
End of period	$ 82.1

Revenue recognition - Accounts

Revenue recognition - Accounts Receivable (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Billed, net	$ 197	$ 172.7
Unbilled	57.6	58.2
Total, net	$ 254.6	$ 230.9

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Line Items]
Effective annual tax rate						29.00%
Discrete tax benefit	$ 1.7	$ 3.3	$ 7.2	$ 9.9
Forecast
Income Taxes [Line Items]
Effective annual tax rate					24.00%

Net income per share (Details)

Net income per share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net (loss) income	$ (32.7)	$ 39.5	$ 41.6	$ 119.7
Denominator:
Weighted-average number of shares-basic (in shares)	53.7	53	53.6	52.5
Dilutive securities-equity awards (in shares)	0	1.3	0.7	1.1
Weighted-average number of shares-diluted (in shares)	53.7	54.3	54.3	53.6
Net income per share - basic (in dollars per share)	$ (0.61)	$ 0.75	$ 0.78	$ 2.28
Net income per share - diluted (in dollars per share)	$ (0.61)	$ 0.73	$ 0.77	$ 2.23
Antidilutive securities excluded from computation of earnings per share (in shares)	1.4	0	0.6	0

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative Instruments
Stock issued or granted during period [Abstract]
Other comprehensive income (loss), tax, portion attributable to parent	$ (2.2)	$ (0.2)	$ (1.4)	$ 3.4
Stock Options
Stock issued or granted during period [Abstract]
Stock options granted (in shares)			0.3
Restricted Stock Units
Stock issued or granted during period [Abstract]
Restricted stock units granted (in shares)			0.6
Award vesting period			3 years
Tranche One | Stock Options
Stock issued or granted during period [Abstract]
Award vesting rights, percentage			33.33%
Tranche One | Restricted Stock Units
Stock issued or granted during period [Abstract]
Award vesting rights, percentage			33.33%
Tranche Two | Stock Options
Stock issued or granted during period [Abstract]
Award vesting rights, percentage			33.33%
Tranche Two | Restricted Stock Units
Stock issued or granted during period [Abstract]
Award vesting rights, percentage			33.33%
Tranche Three | Stock Options
Stock issued or granted during period [Abstract]
Award vesting rights, percentage			33.33%
Tranche Three | Restricted Stock Units
Stock issued or granted during period [Abstract]
Award vesting rights, percentage			33.33%

Equity - Schedule of Stock-base

Equity - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 10.4	$ 10	$ 32.3	$ 41
Cost of product sales | Products
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	1.3	1.8	4.5	7.5
Cost of product sales | Services
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	0.3	0.2	0.8	3.3
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	1.4	0.6	4.5	6.9
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 7.4	$ 7.4	$ 22.5	$ 23.3

Equity - Changes in Accumulated

Equity - Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,543.7	$ 1,198.8	$ 1,447	$ 1,088.5
Other comprehensive (loss) income before reclassifications	(2)	2.2	(2.1)	(9)
Amounts reclassified from accumulated other comprehensive income	1.3	(1.4)	4.3	(2.5)
Ending balance	1,522.7	1,251.5	1,522.7	1,251.5
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(22.4)	(22.2)	(25.3)	(9.9)
Ending balance	(23.1)	(21.4)	(23.1)	(21.4)
Defined Benefit Pension Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(7.7)	(3.4)	(7.7)	(3.4)
Ending balance	(7.7)	(3.4)	(7.7)	(3.4)
Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(6.4)	(13.5)	(11)	(1.6)
Other comprehensive (loss) income before reclassifications	(2.3)	2.4	(0.7)	(8.4)
Amounts reclassified from accumulated other comprehensive income	1.3	(1.4)	4.3	(2.5)
Ending balance	(7.4)	(12.5)	(7.4)	(12.5)
Foreign Currency Translation Losses
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(8.3)	(5.3)	(6.6)	(4.9)
Other comprehensive (loss) income before reclassifications	0.3	(0.2)	(1.4)	(0.6)
Ending balance	$ (8)	$ (5.5)	$ (8)	$ (5.5)