Emergent BioSolutions (EBS) 10-Q 6 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Jul. 30, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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	300 Professional Drive
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, $0.001 par value per share
Trading Symbol	EBS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		52,906,624
Entity Central Index Key	0001367644
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 69.7	$ 111.7
Restricted cash	1.3	0
Accounts receivable, net	196.3	191
Inventories, net	317.5	328.9
Prepaid expenses and other current assets	36	47.9
Assets held for sale	33.7	0
Total current assets	654.5	679.5
Property, plant and equipment, net	306.2	382.8
Intangible assets, net	534.1	566.6
Other assets	18.7	194.3
Total assets	1,513.5	1,823.2
Current liabilities:
Accounts payable	95.9	112.2
Accrued expenses	17.2	18.6
Accrued compensation	66.7	74.1
Debt, current portion	415.2	413.7
Other current liabilities	14.6	32.7
Liabilities held for sale	10.1	0
Total current liabilities	619.7	651.3
Debt, net of current portion	447	446.5
Deferred tax liability	34.8	47.2
Other liabilities	25.7	28.9
Total liabilities	1,127.2	1,173.9
Stockholders' equity:
Preferred stock, $0.001 par value per share; 15.0 shares authorized, no shares issued or outstanding	0	0
Common stock, $0.001 par value per share; 200.0 shares authorized, 58.5 and 57.8 shares issued; 52.9 and 52.2 shares outstanding, respectively	0.1	0.1
Treasury stock, at cost, 5.6 and 5.6 common shares, respectively	(227.7)	(227.7)
Additional paid-in capital	915.3	904.4
Accumulated other comprehensive loss, net	(5.5)	(5.7)
Accumulated deficit	(295.9)	(21.8)
Total stockholders’ equity	386.3	649.3
Total liabilities and stockholders’ equity	$ 1,513.5	$ 1,823.2

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
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)	58,500,000	57,800,000
Common stock, shares outstanding (in shares)	52,900,000	52,200,000
Treasury stock (in shares)	5,600,000	5,600,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Total revenues	$ 254.7	$ 337.9	$ 555.1	$ 502.2
Operating expenses:
Cost of goods and services sold	296.1	190.6	440.7	343.5
Impairment of long-lived assets	27.2	306.7	27.2	306.7
Research and development	32.7	26	47.8	66.7
Selling, general and administrative	85.9	91.4	170.6	192.7
Amortization of intangible assets	16.3	16.1	32.5	33.1
Total operating expenses	458.2	630.8	718.8	942.7
Loss from operations	(203.5)	(292.9)	(163.7)	(440.5)
Other income (expense):
Interest expense	(23.6)	(28.6)	(47.9)	(46.5)
Gain (loss) on sale of business and assets held for sale	(40)	74.9	(40)	74.9
Other, net	(2.7)	(3.6)	(6.1)	1.3
Total other income (expense), net	(66.3)	42.7	(94)	29.7
Loss before income taxes	(269.8)	(250.2)	(257.7)	(410.8)
Income tax provision	13.3	11.2	16.4	36.8
Net loss	$ (283.1)	$ (261.4)	$ (274.1)	$ (447.6)
Net loss per common share
Basic (in dollars per share)	$ (5.38)	$ (5.16)	$ (5.23)	$ (8.86)
Diluted (in dollars per share)	$ (5.38)	$ (5.16)	$ (5.23)	$ (8.86)
Weighted average shares outstanding
Basic (in shares)	52.6	50.7	52.4	50.5
Diluted (in shares)	52.6	50.7	52.4	50.5
Total Product sales, net
Revenues:
Product sales	$ 183.4	$ 302.2	$ 457.3	$ 445.6
Commercial Product sales
Revenues:
Product sales	120	137.9	238.5	244.1
Operating expenses:
Cost of goods and services sold	53.4	54.4	105.5	100.2
MCM Product sales
Revenues:
Product sales	63.4	164.3	218.8	201.5
Operating expenses:
Cost of goods and services sold	31.1	80.5	93.3	135.9
Total Bioservices revenues
Revenues:
Total Bioservices revenues	64.7	29.1	83.2	43.5
Operating expenses:
Cost of goods and services sold	211.6	55.7	241.9	107.4
Services
Revenues:
Product sales	64.5	26.4	82.8	39
Leases
Revenues:
Leases	0.2	2.7	0.4	4.5
Contracts and grants
Revenues:
Product sales	$ 6.6	$ 6.6	$ 14.6	$ 13.1

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (283.1)	$ (261.4)	$ (274.1)	$ (447.6)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net	0	2.6	0.2	2.5
Unrealized losses on hedging activities	0	1.2	0	(3.2)
Reclassification adjustment for gains on hedging activities	0	(2.9)	0	(0.5)
Reclassification adjustment for gains on pension benefit obligation	0	(3.5)	0	(3.5)
Total other comprehensive income (loss), net of tax	0	(2.6)	0.2	(4.7)
Comprehensive loss, net of tax	$ (283.1)	$ (264)	$ (273.9)	$ (452.3)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Operating Activities
Net loss	$ (283.1)	$ 9	$ (261.4)	$ (186.2)	$ (274.1)	$ (447.6)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation expense					11.4	15.1
Depreciation and amortization					56.4	67.5
Change in fair value of contingent obligations, net	0.1		0.4		0.6	0.7
Amortization of deferred financing costs					11.9	9.9
Deferred income taxes					(12.4)	(6.4)
Loss (gain) on sale of business and assets held for sale	40		(74.9)		40	(74.9)	$ (74.2)
Impairment of long-lived assets	27.2		306.7		27.2	306.7
Other					15.5	9.5
Changes in operating assets and liabilities:
Accounts receivable					(29.6)	(129.8)
Inventories					(17.5)	(24.9)
Prepaid expenses and other assets					160	(17.8)
Accounts payable					0.2	10.9
Accrued expenses and other liabilities					3.8	(13.8)
Long-term incentive plan accrual					1.9	2.4
Accrued compensation					(7)	(12.4)
Income taxes receivable and payable, net					16.1	14.2
Contract liabilities					(19.5)	(7.7)
Net cash used in operating activities					(15.1)	(298.4)
Investing Activities
Purchases of property, plant and equipment					(15.4)	(27.6)
Proceeds from sale of business, net					0	270.2
Net cash provided by (used in) investing activities					(15.4)	242.6
Financing Activities
Proceeds from revolving credit facility					65	0
Principal payments on revolving credit facility					(61.5)	(347.8)
Principal payments on term loan facility					(7.9)	(156.8)
Proceeds from share-based compensation activity					0.7	1.3
Taxes paid for share-based compensation activity					(0.6)	(2.3)
Debt issuance costs					(5.9)	0
Proceeds from at-the-market sale of stock, net of commissions and expenses					0	8.2
Net cash used in financing activities:					(10.2)	(497.4)
Effect of exchange rate changes on cash, cash equivalents and restricted cash					0	(0.8)
Net change in cash, cash equivalents and restricted cash					(40.7)	(554)
Cash, cash equivalents and restricted cash, beginning of period		$ 111.7		$ 642.6	111.7	642.6	642.6
Cash, cash equivalents and restricted cash, end of period	71		88.6		71	88.6	111.7
Supplemental cash flow disclosures:
Cash paid for interest					36	38.8
Cash paid for income taxes					25.9	26.9
Non-cash investing and financing activities:
Purchases of property, plant and equipment unpaid at period end					2.9	7.7
Gain on extinguishment of debt					0.3	0
Reconciliation of cash and cash equivalents and restricted cash:
Cash and cash equivalents	69.7		88.6		69.7	88.6	111.7
Restricted Cash	1.3		0		1.3	0
Total	$ 71		$ 88.6		$ 71	$ 88.6	$ 111.7

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Treasury Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	(Accumulated Deficit) Retained Earnings
Beginning balance (in shares) at Dec. 31, 2022		55.7
Beginning balance at Dec. 31, 2022	$ 1,387.7	$ 0.1	$ (227.7)	$ 873.5	$ 3.1	$ 738.7
Beginning balance (in shares) at Dec. 31, 2022			(5.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(186.2)					(186.2)
Share-based compensation activity (in shares)		0.3
Share-based compensation activity	4.7			4.7
Other comprehensive income, net of tax	(2.1)				(2.1)
Ending balance (in shares) at Mar. 31, 2023		56
Ending balance at Mar. 31, 2023	1,204.1	$ 0.1	$ (227.7)	878.2	1	552.5
Ending balance (in shares) at Mar. 31, 2023			(5.6)
Beginning balance (in shares) at Dec. 31, 2022		55.7
Beginning balance at Dec. 31, 2022	1,387.7	$ 0.1	$ (227.7)	873.5	3.1	738.7
Beginning balance (in shares) at Dec. 31, 2022			(5.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(447.6)
Other comprehensive income, net of tax	(4.7)
Ending balance (in shares) at Jun. 30, 2023		57.4
Ending balance at Jun. 30, 2023	957.7	$ 0.1	$ (227.7)	895.8	(1.6)	291.1
Ending balance (in shares) at Jun. 30, 2023			(5.6)
Beginning balance (in shares) at Mar. 31, 2023		56
Beginning balance at Mar. 31, 2023	1,204.1	$ 0.1	$ (227.7)	878.2	1	552.5
Beginning balance (in shares) at Mar. 31, 2023			(5.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(261.4)					(261.4)
Share-based compensation activity (in shares)		0.3
Share-based compensation activity	9.4			9.4
At-the-market sale of stock, net of commissions and expenses (in shares)		1.1
At-the-market sale of stock, net of commissions and expenses	8.2			8.2
Other comprehensive income, net of tax	(2.6)				(2.6)
Ending balance (in shares) at Jun. 30, 2023		57.4
Ending balance at Jun. 30, 2023	$ 957.7	$ 0.1	$ (227.7)	895.8	(1.6)	291.1
Ending balance (in shares) at Jun. 30, 2023			(5.6)
Beginning balance (in shares) at Dec. 31, 2023	57.8	57.8
Beginning balance at Dec. 31, 2023	$ 649.3	$ 0.1	$ (227.7)	904.4	(5.7)	(21.8)
Beginning balance (in shares) at Dec. 31, 2023	(5.6)		(5.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ 9					9
Share-based compensation activity (in shares)		0.2
Share-based compensation activity	5.4			5.4
Other comprehensive income, net of tax	0.2				0.2
Ending balance (in shares) at Mar. 31, 2024		58
Ending balance at Mar. 31, 2024	$ 663.9	$ 0.1	$ (227.7)	909.8	(5.5)	(12.8)
Ending balance (in shares) at Mar. 31, 2024			(5.6)
Beginning balance (in shares) at Dec. 31, 2023	57.8	57.8
Beginning balance at Dec. 31, 2023	$ 649.3	$ 0.1	$ (227.7)	904.4	(5.7)	(21.8)
Beginning balance (in shares) at Dec. 31, 2023	(5.6)		(5.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ (274.1)
Other comprehensive income, net of tax	$ 0.2
Ending balance (in shares) at Jun. 30, 2024	58.5	58.5
Ending balance at Jun. 30, 2024	$ 386.3	$ 0.1	$ (227.7)	915.3	(5.5)	(295.9)
Ending balance (in shares) at Jun. 30, 2024	(5.6)		(5.6)
Beginning balance (in shares) at Mar. 31, 2024		58
Beginning balance at Mar. 31, 2024	$ 663.9	$ 0.1	$ (227.7)	909.8	(5.5)	(12.8)
Beginning balance (in shares) at Mar. 31, 2024			(5.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(283.1)					(283.1)
Share-based compensation activity (in shares)		0.5
Share-based compensation activity	5.5			5.5
Other comprehensive income, net of tax	$ 0
Ending balance (in shares) at Jun. 30, 2024	58.5	58.5
Ending balance at Jun. 30, 2024	$ 386.3	$ 0.1	$ (227.7)	$ 915.3	$ (5.5)	$ (295.9)
Ending balance (in shares) at Jun. 30, 2024	(5.6)		(5.6)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001

Nature of the business and orga

Nature of the business and organization	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of the business and organization	Nature of the business and organization Organization and business Emergent BioSolutions Inc. (“Emergent,” the “Company,” “we,” “us,” and “our”) is a global life sciences company focused on providing innovative preparedness and response solutions addressing accidental, deliberate, and naturally occurring Public Health Threats ("PHTs"). The Company's solutions include a product portfolio, a product development portfolio, and a contract development and manufacturing ("CDMO") services portfolio. The Company is focused on the following four PHT categories: chemical, biological, radiological, nuclear and explosives ("CBRNE"); emerging infectious diseases ("EID"); emerging health crises; and acute, emergency and community care. As of June 30, 2024, the Company has a product portfolio of 11 products (vaccines, therapeutics, and drug-device combination products). The revenues generated by the products comprise a substantial portion of the Company's revenue. The Company structures its business with a focus on markets and customers. As such, the key components of the business structure include the following four product and service categories: NARCAN ® commercial product, Anthrax - Medical Countermeasures (“MCM") Products, Smallpox - MCM products and Emergent Bioservices (CDMO) ("Bioservices"). The Company’s business is organized in three reportable operating segments: (1) a Commercial Products segment consisting of NARCAN ® Nasal Spray and other commercial products, which were sold as part of our travel health business in the second quarter of 2023 (see Note 4, "Divestiture" for more information on the sale of the travel health business); (2) a MCM Products segment consisting of our Anthrax - MCM, Smallpox - MCM and Other Products, described below and (3) a Services segment consisting of our Bioservices offerings (see Note 17, "Segment information " for more information on our reportable segments ). The Company's products and services include: Commercial Products Segment: NARCAN ® • NARCAN ® (naloxone HCl) Nasal Spray is an intranasal formulation of naloxone approved by the United States Food and Drug Administration (“FDA”) (including in over-the-counter form) and Health Canada for the emergency treatment of known or suspected opioid overdose as manifested by respiratory and/or central nervous system depression. Sale of Travel Health Business On May 15, 2023, the Company completed the sale of its Commercial Products segment's travel health business, including rights to Vivotif ® , the licensed typhoid vaccine; Vaxchora ® , the licensed cholera vaccine; the development-stage chikungunya vaccine candidate CHIKV VLP; the Company’s manufacturing site in Bern, Switzerland; and certain of its development facilities in San Diego, California. For additional information, refer to Note 4, "Divestiture". MCM Products Segment: Anthrax - MCM Products • Anthrasil ® (Anthrax Immune Globulin Intravenous (human)), the only polyclonal antibody therapeutic licensed by the FDA and Health Canada for the treatment of inhalational anthrax in combination with appropriate antibacterial drugs; • BioThrax ® (Anthrax Vaccine Adsorbed), the only vaccine licensed by the FDA for the general use prophylaxis and post-exposure prophylaxis of anthrax disease; • CYFENDUS ® (Anthrax vaccine adsorbed (AVA), adjuvanted), previously known as AV7909, which was recently approved by the FDA for post-exposure prophylaxis of disease following suspected or confirmed exposure to Bacillus anthracis in persons 18 through 65 years of age when administered in conjunction with recommended antibacterial drugs. CYFENDUS ® is procured by certain authorized government buyers for their use; and • Raxibacumab injection, the first fully human monoclonal antibody therapeutic licensed by the FDA for the treatment and prophylaxis of inhalational anthrax; Smallpox - MCM Products • 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; • CNJ-016 ® (Vaccinia Immune Globulin Intravenous (Human) (VIGIV)), the only polyclonal antibody therapeutic licensed by the FDA and Health Canada to address certain complications from smallpox vaccination; and • TEMBEXA ® , an oral antiviral formulated as 100 mg tablets and 10 mg/mL oral suspension dosed once weekly for two weeks which has been approved by the FDA for the treatment of smallpox disease caused by variola virus in adult and pediatric patients, including neonates. Other Products • BAT ® (Botulism Antitoxin Heptavalent (A,B,C,D,E,F,G)-(Equine)), the only heptavalent antitoxin licensed by the FDA and Health Canada for the treatment of symptomatic botulism; • Ebanga™ (ansuvimab-zykl), a monoclonal antibody with antiviral activity provided through a single IV infusion for the treatment of Ebola. Under the terms of a collaboration with Ridgeback Biotherapeutics ("Ridgeback"), Emergent will be responsible for the manufacturing, sale, and distribution of Ebanga™ in the U.S. and Canada, and Ridgeback will serve as the global access partner for Ebanga™; • RSDL ® (Reactive Skin Decontamination Lotion) kit, the only medical device cleared by the FDA that is intended to remove or neutralize chemical warfare agents from the skin, including: tabun, sarin, soman, cyclohexyl sarin, VR, VX, mustard gas and T-2 toxin. On July 31, 2024, the Company entered into the Stock and Asset Purchase Agreement (the “RSDL ® Agreement”) w ith SERB Pharmaceuticals, through its wholly owned subsidiary BTG International Inc. (collectively, “SERB”), pursuant to which, among other things, the Company sold its worldwide rights to RSDL ® , to SERB (the “RSDL ® Transaction”). See Note 18 , “ Subsequent events” for more information about the RSDL Transaction ; and • Trobigard® atropine sulfate, obidoxime chloride auto-injector, a combination drug-device auto-injector procured product candidate that contains atropine sulfate and obidoxime chloride. On April 2, 2024, the Belgium Federal Agency for Medicines and Health Products acknowledged and confirmed Emergent’s request to revoke the Market Authorization for the Trobigard Auto-Injector. Services Segment: Bioservices - CDMO The Company’s services revenue consists of distinct but interrelated bioservices: drug substance manufacturing; drug product manufacturing (also referred to as "fill/finish" services) and packaging; development services including technology transfer, process and analytical development services; and, when necessary, suite reservation obligations. These services, which the Company refers to as "molecule-to-market" offerings, employ diverse technology platforms (mammalian, microbial, viral and plasma) across a network of seven geographically distinct development and manufacturing sites operated by the Company for its internal products and pipeline candidates and third-party bioservices. The Company services both clinical-stage and commercial-stage projects for a variety of third-party customers, including government agencies, innovative pharmaceutical companies, and non-government organizations. In August 2023, the Company initiated an organizational restructuring plan (the “August 2023 Plan”) which included actions to reduce investment in and de-emphasize focus on its Bioservices business. In May 2024, the Company initiated a further organizational restructuring plan (the “May 2024 Plan”) announcing the closure of the Company’s Baltimore-Bayview Drug Substance manufacturing facility and Rockville, Maryland Drug Product facility. Additionally, on June 20, 2024 the Company announced entry into an Asset Purchase Agreement (the “Asset Purchase Agreement”) with Bora Pharmaceuticals Injectibles Inc., a subsidiary of Bora Pharmaceuticals Co., Ltd. (“Bora”), under which the Company will sell its Drug Product facility in Baltimore-Camden (the “Camden Transaction”). See Note 3, “Assets and liabilities held for sale” and Note 5, “Impairment and restructuring charges” for more information related to these announcements.

Summary of significant accounti

Summary of significant accounting policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies Basis of presentation and consolidation 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 Securities and Exchange Commission ("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, 2023, as filed with the SEC on March 8, 2024. 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 June 30, 2024. Interim results are not necessarily indicative of results that may be expected for any other interim period or for an entire year. Going concern As of June 30, 2024, there was $222.7 million outstanding on the Company’s senior revolving credit facility (“Revolving Credit Facility”) and $190.3 million on the senior term loan facility (“Term Loan Facility” and together with the Revolving Credit Facility, the “Senior Secured Credit Facilities”) that mature in May 2025 and the Senior Credit Facilities are subject to a forbearance agreement as described below, with respect to the Company’s noncompliance with certain operational and financial covenants. As of June 30, 2024, the Company had $69.7 million in cash and cash equivalents. As a result of these factors, the Company determined that there is substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. The evaluation considered the potential mitigating effects of management’s plans that have not been fully implemented. Management has evaluated the mitigating effects of its plans to determine if it is probable that (1) the plans will be effectively implemented within one year after the date the financial statements are issued, and (2) when implemented, the plans will mitigate the relevant conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern. Management's plans include (A) further amending the Senior Secured Credit Facilities, and (B) improving operating performance, reducing working capital and the potential of the sale of assets to pay down the Senior Secured Credit Facilities before they become due. As neither plan is in the complete control of management, neither is probable of occurring. In this regard, management may not be able to further amend the Senior Secured Credit Facilities or find a buyer for the assets it is willing to divest and may not be able to close on any asset sale for which management is able to reach an agreement with a buyer. As a result, the Company may be unable to meet its obligations as they become due. In addition, any asset sales that are completed could have potential negative impacts on the Company's future operating cash flows and profitability. Debt Covenants The Senior Secured Credit Facilities mature in May 2025, and provide for (1) revolving credit commitments, (2) a term loan, and (3) the issuance of commercial letters of credit. As of March 31, 2024, the Company was not in compliance with the minimum consolidated EBITDA covenant under the Senior Secured Credit Facilities and did not satisfy a covenant requiring it to raise not less than $75.0 million through issuance of equity and/or unsecured indebtedness by April 30, 2024. In addition, the Company was required to deliver audited annual financial statements without a “going concern” explanatory paragraph with respect to its financial statements for the year ended December 31, 2023, which was not achieved. However, on February 29, 2024, the requisite lenders agreed to enter into a Forbearance Agreement and Sixth Amendment to Amended and Restated Credit Agreement (the “Forbearance Agreement and Amendment”) with the Company, which included a limited waiver of certain events of default, including those that resulted from (a) any violation of the financial covenants set forth in the Senior Secured Credit Facilities with respect to the fiscal quarter ending December 31, 2023 and the fiscal quarter ending March 31, 2024 and (b) the going concern explanatory paragraph contained in the audited financial statements for the year ended December 31, 2023. This forbearance period (the “Forbearance Period”) expired on April 30, 2024. On April 29, 2024, the requisite lenders agreed to enter into a Consent, Waiver and Seventh Amendment to the Amended and Restated Credit Agreement (the “Seventh Amendment”) with the Company. The Seventh Amendment, among other things: (a) reduces available commitments under the Revolving Credit Facility to $240.0 million through July 30, 2024, to $210.0 million from July 31, 2024 through September 29, 2024, to $205.0 million from September 30, 2024 through October 30, 2024, to $180.0 million from October 31, 2024 through November 29, 2024, and to $170.0 million from November 30, 2024 and thereafter (in each case subject to potential limited additional borrowings from a specified reserve with the consent of the lenders); (b) amends the interest rate benchmark in the definition of Applicable Margin from (i) 5.00% per annum to 7.00% per annum with respect to Base Rate Loans and (ii) 6.50% per annum to 8.50% per annum with respect to SOFR Loans, RFR Loans and Eurocurrency Rate Loans; and (c) requires the Company to raise equity or unsecured indebtedness of at least $85.0 million by July 31, 2024 (or such later date on or before September 29, 2024 as agreed to by the Administrative Agent), provided that such requirement will be reduced by the aggregate net cash proceeds received from certain dispositions that are applied to reduce amounts outstanding under the Revolving Credit Facility. The Company expects to apply the proceeds from the Camden Transaction and the RSDL ® Transaction to reduce borrowings under the Revolving Credit Facility in order to satisfy the capital raise requirement, the deadline for which was recently extended to September 29, 2024. There is no guarantee the Company will be able to meet the capital raise requirement by this deadline. In addition, pursuant to the Seventh Amendment, the Company is obligated to apply 100% of the aggregate net cash proceeds received from certain dispositions to the prepayment of amounts outstanding under the Revolving Credit Facility, except where such proceeds exceed $85,000,000, in which case such mandatory prepayment of the Revolving Credit Facility will no longer be required. Mandatory prepayment of the Term Loan Facility will not be required unless and until the aggregate net proceeds from such dispositions exceed $85,000,000, at which point 100% of such proceeds must be used toward repayment of amounts outstanding under the Term Loan Facility. Under the Seventh Amendment, the Company is also subject to (a) a monthly minimum consolidated EBITDA covenant through May 15, 2025 and a monthly maximum capital expenditures covenant through March 31, 2025, (b) a minimum liquidity requirement and (c) additional financial statement reporting and business plan forecast obligations. In connection with the entry into the Seventh Amendment, the Company paid an amendment fee of an aggregate amount equal to 0.5% of the total credit exposure as of the Seventh Amendment effective date and will be required to pay an additional amendment fee of 1.0% of total credit exposure at December 1, 2024 and each month thereafter. The Senior Secured Credit Facilities and the Company’s other debt facilities are described in more detail below in Note 10, “Debt”. As of the date of these financial statements, the Company is in compliance with the terms of the Senior Secured Credit Facilities. If the Company defaults under the Senior Secured Credit Facilities, the lenders would have the right to accelerate the repayment of borrowings under the Senior Secured Credit Facilities, which would result in a cross-default of the Company’s obligations under the 3.875% Senior Unsecured Notes due 2028 (the “Senior Unsecured Notes”). If the Company were unable to obtain additional waivers or forbearance of such covenants or defaults, to successfully renegotiate the terms of the Senior Secured Credit Facilities, or to cure the potential covenant breach or default, and the lenders enforced one or more of their rights upon default and/or the default resulted in a cross-default under the Senior Unsecured Notes, the Company would be unable to meet its obligations under those agreements and would likely be forced into insolvency proceedings. Based on the facts and circumstances described above, there can be no assurance that the Company would be able to comply with its debt covenants in the future. As a result, the Company continues to evaluate a number of factors related to its ability to continue as a going concern, including its ability to comply with the terms and operating and financial covenants required by the Senior Secured Credit Facilities, its ability to satisfy the capital raise requirement required by the Senior Secured Credit Facilities, other market conditions, economic conditions, particularly in the pharmaceutical and biotechnology industry, and disruptions or volatility caused by factors such as regional conflicts, inflation, and supply chain disruptions. The Company has engaged legal and financial advisors to assist with a comprehensive review of alternatives to enhance its capital structure, which may include taking steps to cure any potential defaults or seeking forbearance, waivers, further cost reductions, asset sales, restructurings or other alternatives to avoid an event of default. Significant accounting policies During the six months ended June 30, 2024, 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, 2023, as filed with the SEC that have materially impacted the presentation of the Company's financial statements. Fair value measurements Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability, an exit price, in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value, includes: Level 1 — Observable inputs for identical assets or liabilities such as quoted prices in active markets; Level 2 — Inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3 — Unobservable inputs in which little or no market data exists, which are therefore developed by the Company using estimates and assumptions that reflect those that a market participant would use. On a recurring basis, the Company measures and records money market funds (Level 1), interest-rate swap arrangements and time deposits (Level 2) and contingent purchase consideration (Level 3) using fair value measurements in the accompanying financial statements. The carrying amounts of the Company's short-term financial instruments, which include cash and cash equivalents, accounts receivable and accounts payable approximate their fair values due to their short maturities. The carrying amounts of the Company’s long-term variable interest rate debt arrangements (Level 2) approximate their fair values. New accounting standards From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board that the Company adopts as of the pronouncement's specified effective date. Accounting Standards Not Yet Adopted In November 2023, the Financial Accounting Standards board ("FASB") issued Accounting Standards Update ("ASU") 2023-07 ("ASU 2023-07"), Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves reportable segment disclosure requirements, on an annual and interim basis, primarily through enhanced disclosures about significant segment expenses. Additionally, it requires a public entity to disclose the title and position of the Chief Operating Decision Maker ("CODM"). The ASU does not change how a public entity identifies its operating segments, aggregates them, or applies the quantitative thresholds to determine its reportable segments. The amendments in the ASU are effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, although early adoption is permitted. The Company is in the process of evaluating the impact of this new guidance on its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires a public business entity to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. The amendments in the ASU are effective for public business entities for annual periods beginning after December 15, 2024, although early adoption is permitted. The Company is in the process of evaluating the impact of this new guidance on it consolidated financial statements.

Assets and liabilities held for

Assets and liabilities held for sale	6 Months Ended
	Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Assets and liabilities held for sale	Assets and liabilities held for sale On June 20, 2024, the Company announced that it had entered into the Asset Purchase Agreement to sell its Drug Product facility in Baltimore-Camden to an affiliate of Bora, a leading international pharmaceutical services company, for a total value of approximately $30.0 million. The Camden site, which is part of the Company’s Bioservices segment, has clinical and commercial non-viral aseptic fill/finish services on four fill lines, including lyophilization, formulation development, and support services. Alongside the facility, approximately 350 current Emergent employees are expected to join Bora as part of the transaction. The Camden Transaction is expected to close in the third quarter of 2024, subject to the satisfaction or waiver of customary closing conditions. In the accompanying Condensed Consolidated Balance Sheet as of June 30, 2024, the assets and liabilities that are expected to be conveyed in the Camden Transaction are classified as held for sale and are measured at the lower of (i) the carrying value of the disposal group and (ii) the fair value of the disposal group, less costs to sell. Effective with the designation of the Camden Transaction as held for sale on June 20, 2024, the Company suspended recording depreciation of property, plant and equipment and right-of-use assets while these assets are classified as held for sale. Any loss resulting from the measurement is recognized in the period the held for sale criteria are met. Conversely, gains are not recognized until the date of sale. The Company recognized a loss on assets held for sale of $40.0 million, including transaction costs of $3.9 million, during the three months ended June 30, 2024 in “Gain (loss) on sale of business and assets held for sale” within non-operating activities. Assets and liabilities classified as held for sale in the Condensed Consolidated Balance Sheets as of June 30, 2024 consist of the following: June 30, 2024 Assets held for sale: Accounts receivable, net $ 21.5 Inventories, net 28.9 Prepaid expenses and other current assets 0.5 Property, plant and equipment, net 22.1 Other assets 0.7 Valuation allowance (40.0) Total assets held for sale $ 33.7 Liabilities held for sale: Accounts payable $ 6.5 Accrued compensation 2.5 Other current liabilities 0.3 Other liabilities 0.8 Total liabilities held for sale $ 10.1 On May 15, 2023, pursuant to the Purchase and Sale Agreement (the “Purchase and Sale Agreement”), by and between the Company, through its wholly owned subsidiaries Emergent International Inc. and Emergent Travel Health Inc., and Bavarian Nordic, the Company completed the sale of the Company’s travel health business, including rights to Vivotif ® , the licensed typhoid vaccine; Vaxchora ® , the licensed cholera vaccine; the development-stage chikungunya vaccine candidate CHIKV VLP; the Company’s manufacturing site in Bern, Switzerland; and certain of its development facilities in San Diego, California. At the closing, Bavarian Nordic paid a cash purchase price of $270.2 million, exclusive of customary closing adjustments for cash, indebtedness, working capital and transaction expenses of the business at closing. Bavarian Nordic may also be required to pay milestone payments of up to $80.0 million related to the development of CHIKV VLP and receipt of marketing approval and authorization in the U.S. and Europe, and earn-out payments of up to $30.0 million based on aggregate net sales of Vaxchora ® and Vivotif ® in calendar year 2026. On July 18, 2024, Bavarian Nordic announced that the European Medicines Agency had validated the marketing authorization application, which triggered a development milestone payment under the Purchase and Sale Agreement to the Company in the amount of $10.0 million. See Note 18, “Subsequent events” for more information on the development milestone trigger. As a result of the divestiture, the Company recognized a pre-tax gain of $74.2 million, net of transaction costs of $4.0 million recorded within "Gain (loss) on sale of business and assets held for sale" on the Condensed Consolidated Statements of Operations during 2023. In connection with the divestiture, the Company entered into a Transition Services Agreement (“TSA”) with Bavarian Nordic to help support its ongoing operations. Under the TSA, the Company provides certain transition services to Bavarian Nordic, including information technology, finance and enterprise resource planning, research and development, human resources, employee benefits and other limited services. Income from performing services under the TSA is recorded within "Other, net" on the Condensed Consolidated Statements of Operations and was $0.1 million and $0.5 million for three and six months ended June 30, 2024, respectively and $1.0 million for the three and six months ended June 30, 2023.

Divestiture

Divestiture	6 Months Ended
	Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Divestiture	Assets and liabilities held for sale On June 20, 2024, the Company announced that it had entered into the Asset Purchase Agreement to sell its Drug Product facility in Baltimore-Camden to an affiliate of Bora, a leading international pharmaceutical services company, for a total value of approximately $30.0 million. The Camden site, which is part of the Company’s Bioservices segment, has clinical and commercial non-viral aseptic fill/finish services on four fill lines, including lyophilization, formulation development, and support services. Alongside the facility, approximately 350 current Emergent employees are expected to join Bora as part of the transaction. The Camden Transaction is expected to close in the third quarter of 2024, subject to the satisfaction or waiver of customary closing conditions. In the accompanying Condensed Consolidated Balance Sheet as of June 30, 2024, the assets and liabilities that are expected to be conveyed in the Camden Transaction are classified as held for sale and are measured at the lower of (i) the carrying value of the disposal group and (ii) the fair value of the disposal group, less costs to sell. Effective with the designation of the Camden Transaction as held for sale on June 20, 2024, the Company suspended recording depreciation of property, plant and equipment and right-of-use assets while these assets are classified as held for sale. Any loss resulting from the measurement is recognized in the period the held for sale criteria are met. Conversely, gains are not recognized until the date of sale. The Company recognized a loss on assets held for sale of $40.0 million, including transaction costs of $3.9 million, during the three months ended June 30, 2024 in “Gain (loss) on sale of business and assets held for sale” within non-operating activities. Assets and liabilities classified as held for sale in the Condensed Consolidated Balance Sheets as of June 30, 2024 consist of the following: June 30, 2024 Assets held for sale: Accounts receivable, net $ 21.5 Inventories, net 28.9 Prepaid expenses and other current assets 0.5 Property, plant and equipment, net 22.1 Other assets 0.7 Valuation allowance (40.0) Total assets held for sale $ 33.7 Liabilities held for sale: Accounts payable $ 6.5 Accrued compensation 2.5 Other current liabilities 0.3 Other liabilities 0.8 Total liabilities held for sale $ 10.1 On May 15, 2023, pursuant to the Purchase and Sale Agreement (the “Purchase and Sale Agreement”), by and between the Company, through its wholly owned subsidiaries Emergent International Inc. and Emergent Travel Health Inc., and Bavarian Nordic, the Company completed the sale of the Company’s travel health business, including rights to Vivotif ® , the licensed typhoid vaccine; Vaxchora ® , the licensed cholera vaccine; the development-stage chikungunya vaccine candidate CHIKV VLP; the Company’s manufacturing site in Bern, Switzerland; and certain of its development facilities in San Diego, California. At the closing, Bavarian Nordic paid a cash purchase price of $270.2 million, exclusive of customary closing adjustments for cash, indebtedness, working capital and transaction expenses of the business at closing. Bavarian Nordic may also be required to pay milestone payments of up to $80.0 million related to the development of CHIKV VLP and receipt of marketing approval and authorization in the U.S. and Europe, and earn-out payments of up to $30.0 million based on aggregate net sales of Vaxchora ® and Vivotif ® in calendar year 2026. On July 18, 2024, Bavarian Nordic announced that the European Medicines Agency had validated the marketing authorization application, which triggered a development milestone payment under the Purchase and Sale Agreement to the Company in the amount of $10.0 million. See Note 18, “Subsequent events” for more information on the development milestone trigger. As a result of the divestiture, the Company recognized a pre-tax gain of $74.2 million, net of transaction costs of $4.0 million recorded within "Gain (loss) on sale of business and assets held for sale" on the Condensed Consolidated Statements of Operations during 2023. In connection with the divestiture, the Company entered into a Transition Services Agreement (“TSA”) with Bavarian Nordic to help support its ongoing operations. Under the TSA, the Company provides certain transition services to Bavarian Nordic, including information technology, finance and enterprise resource planning, research and development, human resources, employee benefits and other limited services. Income from performing services under the TSA is recorded within "Other, net" on the Condensed Consolidated Statements of Operations and was $0.1 million and $0.5 million for three and six months ended June 30, 2024, respectively and $1.0 million for the three and six months ended June 30, 2023.

Impairment and restructuring ch

Impairment and restructuring charges	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Impairment and restructuring charges	Impairment and restructuring charges Impairments of long-lived assets The Company tests its long-lived assets that are held and used for recoverability whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. 2024 Impairment of long-lived assets During the preparation of the Company’s financial statements for the three months ended June 30, 2024, due to the decision to close the Company’s Baltimore-Bayview Drug Substance manufacturing facility and the Rockville, Maryland Drug Product facility the Company determined there were sufficient indicators of impairment for the Bayview and Rockville asset groups within the Bioservices reporting unit. As a result, the Company performed recoverability tests on those asset groups and concluded that the Bayview and Rockville asset groups were not recoverable as the undiscounted expected cash flows did not exceed their carrying values. Asset groups are written down only to the extent that their carrying value is higher than their respective fair value. The Company, with the assistance of a third-party valuation firm, applied valuation methods to estimate the fair values for each of the assets within the different asset classes. An orderly liquidation value was applied to estimate the fair value of the personal property assets and market and cost based approaches were applied to estimate the fair value of the real property assets, each representing Level 3 non-recurring fair value measurements. Based on these analyses, the Company allocated and recognized a non-cash impairment charge of $27.2 million during the three months ended June 30, 2024. 2023 Impairment of long-lived assets During the preparation of the Company’s financial statements for the three months ended June 30, 2023, due to deterioration in performance and resulting downward revisions to the Company’s internal Bioservices forecast made during the second quarter, including future expected cash flows, the Company determined there were sufficient indicators of impairment on the Camden, Bayview and Rockville asset groups within the Bioservices reporting unit to require an impairment analysis. As a result, the Company performed recoverability tests on certain asset groups within the Bioservices reporting unit and concluded that the impacted asset groups were not recoverable as the undiscounted expected cash flows did not exceed their carrying values. Asset groups are written down only to the extent that their carrying value is higher than their respective fair value. The Company, with the assistance of a third-party valuation firm, applied valuation methods to estimate the fair values for each of the assets within the different asset classes. An orderly liquidation value was applied to estimate the fair value of the personal property assets and market and cost based approaches were applied to estimate the fair value of the real property assets, each representing Level 3 non-recurring fair value measurements. Based on these analyses, the Company allocated and recognized a non-cash impairment charge of $306.7 million during the three months ended June 30, 2023. The table below presents the total impairment charge by asset class for the three months ended June 30, 2024 and 2023: Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Buildings, building improvements and leasehold improvements 7.8 81.5 Furniture and equipment 14.1 117.5 Software 0.2 0.3 Construction-in-progress 5.1 107.4 Total impairment of long-lived assets $ 27.2 $ 306.7 Restructuring Charges January 2023 Organizational Restructuring Plan In January 2023, the Company initiated an organizational restructuring plan (the “January 2023 Plan”) intended to reduce operating costs, improve operating margins, and continue advancing the Company’s ongoing commitment to profitable growth. As part of the January 2023 Plan, the Company reduced its workforce by approximately 125 employees. The charges related to the January 2023 plan consist primarily of employee transition, severance payment and employee benefit charges. The cumulative amount of restructuring charge related to the January 2023 Plan since inception is $9.3 million. All activities related to the January 2023 Plan were substantially completed during the first quarter of 2023. Restructuring costs are recognized as an operating expense within the Condensed Consolidated Statement of Operations and are classified based on the Company's classification policy for each category of operating expense. August 2023 Organizational Restructuring Plan In August 2023, the Company initiated the August 2023 Plan which was intended to strengthen its core business and financial position by reducing investment in and de-emphasizing focus on its CDMO services business for future growth. As part of the August 2023 Plan, the Company reduced its workforce by approximately 400 employees. The charges related to the August 2023 Plan consist primarily of employee transition, severance payment and employee benefit charges. The cumulative amount of restructuring charge related to the August 2023 Plan since inception is $19.4 million. All activities related to the August 2023 Plan were substantially completed during the third quarter of 2023. Restructuring costs are recognized as an operating expense within the Condensed Consolidated Statement of Operations and are classified based on the Company's classification policy for each category of operating expense. May 2024 Organizational Restructuring Plan In May 2024, the Company initiated the May 2024 Plan. These strategic actions will lead to a reduction of the Company’s current workforce by approximately 300 employees across all areas of the Company and the elimination of approximately 85 positions that are currently vacant, as well as the closure of the Company’s Baltimore-Bayview Drug Substance manufacturing facility and Rockville, Maryland Drug Product facility. Decisions regarding the elimination of positions and the closure of manufacturing facilities are subject to local law and consultation requirements in certain countries, as well as the Company’s business needs. The cumulative amount of restructuring charge related to the May 2024 Plan since inception is $17.2 million. All activities related to the May 2024 Plan are expected to be substantially completed during in the third quarter of 2024. Restructuring costs are recognized as an operating expense within the Condensed Consolidated Statement of Operations and are classified based on the Company's classification policy for each category of operating expense. The following table presents the total restructuring costs related to the January 2023 Plan, August 2023 Plan and May 2024 Plan by reportable segment as well as amounts included within unallocated corporate selling general and administrative (“SG&A”) expense and research and development ("R&D") expense: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Commercial Products $ — $ — $ — $ — MCM Products 2.7 — 2.6 2.0 Services 0.4 — 0.2 — Total restructuring costs by segment 3.1 — 2.8 2.0 SG&A 8.6 0.1 8.5 5.1 R&D 5.4 (0.2) 5.3 2.5 Total restructuring costs $ 17.1 $ (0.1) $ 16.6 $ 9.6 The following table presents the total restructuring costs related to the January 2023 Plan, August 2023 Plan and May 2024 Plan by function: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Employee transition $ 0.2 $ — $ 0.2 $ 0.3 Severance payments 14.8 0.1 14.3 8.8 Employee benefits 2.1 (0.2) 2.1 0.5 Total restructuring costs $ 17.1 $ (0.1) $ 16.6 $ 9.6 The following tables provide the components of and changes in the Company's restructuring accrual for the January 2023 Plan during the three and six months ended June 30, 2024 and 2023: Employee Transition Severance Payments Employee Benefits Total Balance at December 31, 2023 $ — $ 1.4 $ — $ 1.4 Cash payments — (1.3) — (1.3) Balance at March 31, 2024 $ — $ 0.1 $ — $ 0.1 Cash payments — (0.1) — (0.1) Balance at June 30, 2024 $ — $ — $ — $ — Employee Transition Severance Payments Employee Benefits Total Balance at December 31, 2022 $ — $ — $ — $ — Accruals 0.3 8.7 0.7 9.7 Cash payments (0.2) (2.0) (0.1) (2.3) Balance at March 31, 2023 $ 0.1 $ 6.7 $ 0.6 $ 7.4 Accruals — 0.1 (0.2) (0.1) Cash payments — (3.6) (0.1) (3.7) Balance at June 30, 2023 $ 0.1 $ 3.2 $ 0.3 $ 3.6 The following table provides the components of and changes in the Company's restructuring accrual for the August 2023 Plan during the three and six months ended June 30, 2024: Employee Transition Severance Payments Employee Benefits Total Balance at December 31, 2023 $ — $ 5.3 $ 0.1 $ 5.4 Accruals — (0.5) — (0.5) Cash payments — (3.6) — (3.6) Balance at March 31, 2024 $ — $ 1.2 $ 0.1 $ 1.3 Accruals — (0.1) — (0.1) Cash payments — (0.5) (0.1) (0.6) Balance at June 30, 2024 $ — $ 0.6 $ — $ 0.6 The following table provides the components of and changes in the Company's restructuring accrual for the May 2024 Plan during the three months ended June 30, 2024: Employee Transition Severance Payments Employee Benefits Total Balance at March 31, 2024 $ — $ — $ — $ — Accruals 0.2 14.8 2.2 17.2 Cash payments (0.2) — — (0.2) Balance at June 30, 2024 $ — $ 14.8 $ 2.2 $ 17.0

Inventories, net

Inventories, net	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories, net	Inventories, net Inventories, net consisted of the following: June 30, 2024 December 31, 2023 Raw materials and supplies $ 97.2 $ 128.7 Work-in-process 136.5 113.3 Finished goods 83.8 86.9 Total inventories, net $ 317.5 $ 328.9 Inventories, net is stated at the lower of cost or net realizable value .

Property, plant and equipment,

Property, plant and equipment, net	6 Months Ended
	Jun. 30, 2024
Property Plant and Equipment Income Statement Disclosures [Abstract]
Property, plant and equipment, net	Property, plant and equipment, net Property, plant and equipment, net consisted of the following: June 30, 2024 December 31, 2023 Land and improvements $ 28.8 $ 30.0 Buildings, building improvements and leasehold improvements 209.0 229.9 Furniture and equipment 389.5 433.6 Software 68.6 64.0 Construction-in-progress 11.0 36.7 Property, plant and equipment, gross $ 706.9 $ 794.2 Less: Accumulated depreciation and amortization (400.7) (411.4) Total property, plant and equipment, net $ 306.2 $ 382.8 As of June 30, 2024 and December 31, 2023, construction-in-progress primarily included costs incurred to advance the Company's MCM Product capabilities. Property, plant and equipment, net is stated at cost, less accumulated depreciation and amortization.

Intangible assets and goodwill

Intangible assets and goodwill	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets and goodwill	Intangible assets and goodwill The Company's finite-lived intangible assets consist of products acquired via business combinations or asset acquisitions. The following table summarizes the Company's finite-lived intangible assets: Weighted Average Useful Life in Years June 30, 2024 December 31, 2023 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Products 13.5 $ 855.4 $ 321.3 $ 534.1 $ 855.4 $ 288.8 $ 566.6 Customer relationships 0.0 28.6 28.6 — 28.6 28.6 — CDMO 0.0 5.5 5.5 — 5.5 5.5 — Total intangible assets $ 889.5 $ 355.4 $ 534.1 $ 889.5 $ 322.9 $ 566.6 Amortization expense associated with the Company's finite-lived intangible assets was recorded as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Amortization of intangible assets $ 16.3 $ 16.1 $ 32.5 $ 33.1 The Company had no remaining goodwill balance on the Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 due to impairment charges recorded during the third quarter of 2023.

Fair value measurements

Fair value measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements The table below presents information about the Company's assets and liabilities that are regularly measured and carried at fair value and indicates the level within the fair value hierarchy of the valuation techniques the Company utilized to determine fair value: June 30, 2024 December 31, 2023 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Money market accounts $ 10.9 $ 10.9 $ — $ — $ 40.5 $ 40.5 $ — $ — Total $ 10.9 $ 10.9 $ — $ — $ 40.5 $ 40.5 $ — $ — Liabilities: Contingent consideration $ 4.3 $ — $ — $ 4.3 $ 5.6 $ — $ — $ 5.6 Total $ 4.3 $ — $ — $ 4.3 $ 5.6 $ — $ — $ 5.6 Contingent consideration Contingent consideration payments in an asset acquisition not required to be accounted for as derivatives are recognized when the contingency is resolved, and the consideration is paid or becomes payable. Contingent consideration liabilities associated with business combinations are measured at fair value. The 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 change in fair value for the contingent consideration liabilities related to the Company’s products is classified on the Company's Condensed Consolidated Statements of Operations as "Cost of MCM Product sales." The table below is a reconciliation of the beginning and ending balance of the Company's Level 3 contingent consideration liability: Contingent Consideration Balance at December 31, 2023 $ 5.6 Change in fair value 0.5 Settlements (0.6) Balance at March 31, 2024 $ 5.5 Change in fair value 0.1 Settlements (1.3) Balance at June 30, 2024 $ 4.3 Contingent Consideration Balance at December 31, 2022 $ 8.0 Change in fair value 0.3 Settlements (0.7) Balance at March 31, 2023 $ 7.6 Change in fair value 0.4 Settlements (0.6) Balance at June 30, 2023 $ 7.4 As of June 30, 2024 and December 31, 2023, the current portion of the contingent consideration liability was $1.7 million and $2.7 million, respectively, and was included in "Other current liabilities" on the Condensed Consolidated Balance Sheets. The non-current portion of the contingent consideration liability is included in "Other liabilities" on the Condensed Consolidated Balance Sheets. The recurring Level 3 fair value measurement for the Company's contingent consideration liability used the following significant unobservable inputs: Contingent Consideration Liability Fair Value as of June 30, 2024 Valuation Technique Unobservable Input Range Royalty based $4.3 million Discounted cash flow Discount rate 9.9% Probability of payment 0% - 50% Projected year of payment 2024 - 2028 Non-variable rate debt As of June 30, 2024 and December 31, 2023, t he fair value of the Company's Senior Unsecured Notes was $292.5 million and $184.3 million, respectively. The fair value was determined through market sources, which are Level 2 inputs and directly observable. The carrying amounts of the Company’s other long-term variable interest rate debt arrangements approximate their fair values (see Note 10, "Debt").

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt The table below presents the components of the Company’s debt: June 30, 2024 December 31, 2023 Senior secured credit agreement - Term loan due 2025 $ 190.3 $ 198.2 Senior secured credit agreement - Revolver loan due 2025 222.7 219.2 3.875% Senior Unsecured Notes due 2028 450.0 450.0 Other 0.8 1.0 Total debt $ 863.8 $ 868.4 Current portion of long-term debt, net of debt issuance costs (415.2) (413.7) Unamortized debt issuance costs (1.6) (8.2) Non-current portion of debt, net of debt issuance costs $ 447.0 $ 446.5 During the year ended December 31, 2023, the Company reclassified the debt issuance costs associated with the revolver loan to a contra account to directly offset the loan balance in "Debt, current portion" on the Company's Condensed Consolidated Balance Sheets. As of June 30, 2024 and December 31, 2023, the Company had $1.1 million and $5.3 million, respectively, of debt issuance costs associated with the revolver loan. During the six months ended June 30, 2024, the Company entered into a bilateral agreement with a bank in the amount of $0.5 million that is fully collateralized by cash, which is classified within “Restricted cash” in the Company’s Condensed Consolidated Balance Sheet as of June 30, 2024. 3.875% Senior Unsecured Notes due 2028 On August 7, 2020, the Company completed its offering of $450.0 million aggregate principal amount of its Senior Unsecured Notes . Interest on the Senior Unsecured Notes is payable on February 15th and August 15th of each year until maturity, beginning on February 15, 2021. The Senior Unsecured Notes will mature on August 15, 2028. As of August 15, 2023, the Company may redeem all or a portion of the Senior Unsecured Notes at a redemption price equal to 100% of the principal amount of the Senior Unsecured Notes plus a “make-whole” premium and accrued and unpaid interest as set forth in the related indenture. Upon the occurrence of a change of control, the Company must offer to repurchase the Senior Unsecured Notes at a purchase price of 101% of the principal amount of such notes plus accrued and unpaid interest. Negative covenants in the indenture governing the Senior Unsecured 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 Facilities On February 29, 2024, the Company entered into the Forbearance Agreement and Amendment to, among other things, (a) provide that the Administrative Agent and the lenders forbear from exercising all rights and remedies under the Senior Secured Credit Facilities and the other related loan documents arising from the occurrence and continuation of certain specified events of default during the Forbearance Period and (b) provide consent by the required revolving credit lenders to make further loans to the Company or other extensions of credit to the credit parties during the Forbearance Period, notwithstanding the occurrence of the specified events of default, subject to certain conditions set forth in the Forbearance Agreement and Amendment, including a limit on Revolving Credit Facility indebtedness of $270 million. The Forbearance Agreement and Amendment also amended, among other things, (x) the interest rate benchmark to provide that borrowings will bear interest at a rate per annum equal to (A) 5.00% with respect to Base Rate Loans, (B) 6.50% per annum with respect to SOFR Loans, Daily Simple SONIA Loans and Eurocurrency Rate Loans, and (C) 0.40% with respect to Commitment Fees, (y) the mandatory prepayment threshold amount for unrestricted cash and cash equivalents from $125,000,000 to $100,000,000, and (z) the mandatory principal prepayment amount from 75% of all milestone payments received by the Company and its subsidiaries from certain project milestone payments to 100%. Under the Forbearance Agreement and Amendment, the Company and the other guarantors agreed to cause Emergent BioSolutions Canada Inc. to (i) become a guarantor under the Senior Secured Credit Facilities and (ii) grant a security lien in all collateral owned by Emergent BioSolutions Canada Inc. (subject to the exclusions and exceptions specified in the Collateral Agreement) to the Administrative Agent. In addition, in connection with the entry into the Forbearance Agreement and Amendment, the Company paid a forbearance fee of approximately $1.2 million. The Forbearance Period expired on April 30, 2024. See Note 2, "Summary of significant accounting policies" for further discussion of the Forbearance Agreement and Amendment. On April 29, 2024, the Company entered into the Seventh Amendment. The Seventh Amendment, among other things: (a) reduces available commitments under the Revolving Credit Facility to $240.0 million through July 30, 2024, to $210.0 million from July 31, 2024 through September 29, 2024, to $205.0 million from September 30, 2024 through October 30, 2024, to $180.0 million from October 31, 2024 through November 29, 2024, and to $170.0 million from November 30, 2024 and thereafter (in each case subject to potential limited additional borrowings from a specified reserve with the consent of the lenders); (b) amends the interest rate benchmark in the definition of Applicable Margin from (i) 5.00% per annum to 7.00% per annum with respect to Base Rate Loans and (ii) 6.50% per annum to 8.50% per annum with respect to SOFR Loans, RFR Loans and Eurocurrency Rate Loans; and (c) requires the requirement that the Company to raise equity or unsecured indebtedness of at least $85.0 million by July 31, 2024 (or such later date on or before September 29, 2024 as agreed to by the Administrative Agent), provided that such requirement will be reduced by the aggregate net cash proceeds received from certain dispositions that are applied to reduce amounts outstanding under the Revolving Credit Facility. On July 18, 2024, the Administrative Agent agreed to extend the deadline of the capital raise requirement to September 29, 2024. In addition, pursuant to the Seventh Amendment, the Company is obligated to apply 100% of the aggregate net cash proceeds received from certain dispositions to the prepayment of amounts outstanding under the Revolving Credit Facility, except where such proceeds exceed $85,000,000, in which case such mandatory prepayment of the Revolving Credit Facility will no longer be required. Mandatory prepayment of the Term Loan Facility will not be required unless and until the aggregate net proceeds from such dispositions exceed $85,000,000, at which point 100% of such proceeds must be used toward repayment of amounts outstanding under the Term Loan Facility. Under the Seventh Amendment, the Company is also subject to (a) a monthly minimum consolidated EBITDA covenant through May 15, 2025 and a monthly maximum capital expenditures covenant through March 31, 2025, (b) a minimum liquidity requirement, and (c) additional financial statement reporting and business plan forecast obligations. In connection with the entry into the Seventh Amendment, the Company paid an amendment fee of an aggregate amount equal to 0.5% of the total credit exposure as of the Seventh Amendment effective date and will be required to pay an additional amendment fee of 1.0% of total credit exposure at December 1, 2024 and each month thereafter. See Note 2, "Summary of significant accounting policies" for additional information related to the Company’s compliance with the debt covenants described above. As a result of the Seventh Amendment, the Company capitalized $3.2 million of costs associated with the Revolving Credit Facility as a contra account to directly offset the loan balance in “Debt, current portion” on the Company's Condensed Consolidated Balance Sheets, expensed $1.4 million of debt issuance costs related to the Term Loan Facility, and capitalized $1.0 million of costs related to the Term Loan Facility as a contra account to directly offset the loan balance in "Debt, current portion" on the Company's Condensed Consolidated Balance Sheets.

Share-based compensation and st

Share-based compensation and stockholders' equity	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
Share-based compensation and stockholders' equity	Share-based compensation and stockholders' equity Share-based compensation The Company’s share-based compensation expense relates to stock options, performance stock options, restricted stock units, performance stock units and liability classified long-term incentive awards. During the six months ended June 30, 2024, the Company granted stock options to purchase 4.0 million shares of common stock; performance stock options subject to market conditions, to purchase 0.8 million shares of common stock; and 0.2 million restricted stock units. The grants were made under the Emergent BioSolutions Inc. Amended and Restated Stock Incentive Plan and the Emergent BioSolutions Inc. Inducement Plan. Additionally, during the six months ended June 30, 2024, the Company granted an $8.0 million long-term incentive award, subject to market conditions, with the option to settle in any combination of cash or shares, which is accounted for as a liability classified award. The performance stock options and the long-term incentive award were valued using Monte Carlo valuation models, and both have a performance period of five years to vest based on the Company’s stock price performance. The long-term incentive award will be revalued at each reporting period until the award is earned or expires. The Company’s other equity awards typically 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. During the six months ended June 30, 2024, 0.2 million stock options and 0.1 million restricted stock units were forfeited prior to the completion of the applicable vesting requirements or expiration. An immaterial number of performance stock units were forfeited during the six months ended June 30, 2024. Share-based compensation expense, net of forfeitures was recorded in the following financial statement line items: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Cost of Commercial Product sales $ — $ — $ — $ 0.1 Cost of MCM Product sales 0.6 1.2 1.3 2.5 Cost of Bioservices 0.2 0.3 0.3 0.6 R&D 0.5 0.4 1.0 1.1 Selling, general and administrative 4.2 6.4 8.8 10.8 Total share-based compensation expense $ 5.5 $ 8.3 $ 11.4 $ 15.1 Stockholders' equity At-the-Market Equity Offering Facility The Company may, from time to time, sell up to $150.0 million aggregate gross sales price of shares of its common stock through Evercore Group L.L.C. and RBC Capital Markets, LLC, as sales agents, under an “at-the-market” equity offering program (the “ATM Program”) that was entered into on May 17, 2023. There were no sales of the Company’s common stock under the ATM Program during the three months ended June 30, 2024. The Company’s Registration Statement on Form S-3 expires on August 9, 2024 and the Company is not eligible to file a new Registration Statement on Form S-3 until 2025 due to the delayed filing of the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2023. The Company will not be eligible to sell any shares under the ATM Program until a new Registration Statement is filed and becomes effective. During the second quarter of 2023, the Company sold 1.1 million shares of the Company’s common stock under the ATM Program for gross proceeds of $9.1 million, representing an average share price of $8.22 per share. As of June 30, 2024, $140.9 million aggregate gross sales price of shares of the Company’s common stock remains available for issuance under the ATM Program. The Company intends to use proceeds obtained from the sale of shares under the ATM Program for general corporate purposes. Accumulated other comprehensive income (loss), net of tax The following table includes changes in accumulated other comprehensive income (loss), net of tax by component: Defined Benefit Pension Plan Derivative Instruments Foreign Currency Total Balance at December 31, 2023 $ — $ — $ (5.7) $ (5.7) Other comprehensive income before reclassifications — — 0.2 0.2 Net current period other comprehensive income — — 0.2 0.2 Balance at March 31, 2024 $ — $ — $ (5.5) $ (5.5) Other comprehensive income (loss) before reclassifications — — — — Net current period other comprehensive loss — — — — Balance at June 30, 2024 $ — $ — $ (5.5) $ (5.5) Balance at December 31, 2022 $ 3.5 $ 6.2 $ (6.6) $ 3.1 Other comprehensive loss before reclassifications — (4.4) (0.1) (4.5) Amounts reclassified from accumulated other comprehensive income — 2.4 — 2.4 Net current period other comprehensive loss — (2.0) (0.1) (2.1) Balance at March 31, 2023 $ 3.5 $ 4.2 $ (6.7) $ 1.0 Other comprehensive income before reclassifications — 1.2 2.6 3.8 Amounts reclassified from accumulated other comprehensive loss (3.5) (2.9) — (6.4) Net current period other comprehensive income (loss) (3.5) (1.7) 2.6 (2.6) Balance at June 30, 2023 $ — $ 2.5 $ (4.1) $ (1.6) The tables below present the tax effects related to each component of other comprehensive income (loss): Three Months Ended June 30, 2024 2023 Pretax Tax Expense Net of tax Pretax Tax Expense Net of tax Defined benefit pension plan $ — $ — $ — $ (4.1) $ 0.6 $ (3.5) Derivative instruments — — — (2.4) 0.7 (1.7) Foreign currency translation adjustments — — — 2.1 0.5 2.6 Total adjustments $ — $ — $ — $ (4.4) $ 1.8 $ (2.6) Six Months Ended June 30, 2024 2023 Pretax Tax Expense Net of tax Pretax Tax Expense Net of tax Defined benefit pension plan $ — $ — $ — $ (4.1) $ 0.6 $ (3.5) Derivative instruments — — — (5.0) 1.3 (3.7) Foreign currency translation adjustments 0.2 — 0.2 2.0 0.5 2.5 Total adjustments $ 0.2 $ — $ 0.2 $ (7.1) $ 2.4 $ (4.7)

Loss per common share

Loss per common share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Loss per common share	Loss per common share Basic loss per common share is calculated using the treasury method by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted loss per common share adjusts basic loss per common share for the effects of potentially dilutive common shares and is calculated using the treasury stock method. Potentially dilutive common shares include the dilutive effect of shares issuable under our equity compensation plans, including stock options, restricted stock units and performance stock units. Diluted loss per share excludes anti-dilutive securities, which represent the number of potential common shares related to shares issuable under our equity compensation plan that were excluded from diluted loss per common share because their effect would have been antidilutive. The following table presents the calculation of basic and diluted loss per common share: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Numerator: Net loss $ (283.1) $ (261.4) $ (274.1) $ (447.6) Denominator: Weighted-average number of shares outstanding-basic 52.6 50.7 52.4 50.5 Weighted-average number of shares outstanding-diluted 52.6 50.7 52.4 50.5 Net loss per common share - basic $ (5.38) $ (5.16) $ (5.23) $ (8.86) Net loss per common share - diluted $ (5.38) $ (5.16) $ (5.23) $ (8.86) Anti-dilutive securities 2.3 3.6 3.4 3.4

Revenue recognition

Revenue recognition	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue recognition	Revenue recognition The Company generates the majority of its revenues through product sales to customers. The Company also generates revenues through its Bioservices offerings and suite reservations for and to third parties and contracts and grants revenue. The Company recognizes revenue when its customers obtain control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services by analyzing the following five steps: (1) identify the contract with (a) customer(s); (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. In the third quarter of 2023, the Company launched over-the-counter (“OTC”) NARCAN ® , which was approved by the FDA as an over-the-counter emergency treatment of opioid overdose, broadening the Company’s customer base and sales channels to retail pharmacies and digital commerce websites. The Company's Nasal Naloxone Products are now sold commercially over-the-counter at retail pharmacies and digital commerce websites as well as through physician-directed or standing order prescriptions at retail pharmacies, health departments, local law enforcement agencies, community-based organizations, substance abuse centers and other federal agencies. The Company's OTC NARCAN ® customer contracts are fixed price contracts. The Company invoices and records revenue when the pharmacies and wholesalers receive product from the third-party logistics warehouse used by the Company, which is the point at which control is transferred to the customer. Revenues for OTC NARCAN ® are recorded at the net sales price (transaction price), which includes estimates of variable consideration for which reserves are established. Estimates of variable consideration include allowance for returns, specialty distributor fees, wholesaler fees and prompt payment discounts. OTC NARCAN ® may also be sold on consignment through third-party online retailers where revenues are recognized at the point in time when sold to the end customer. The Company pays these third-party online retailers selling commissions and fulfillment fees which are recorded as SG&A expenses and Cost of Commercial Product sales, respectively, in the Condensed Consolidated Statement of Operations. Revenues from OTC NARCAN ® are recognized to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with such variable consideration is subsequently resolved. The Company considers several factors in the estimation process for the allowance for returns of OTC NARCAN ® , including inventory levels within the distribution channel, product shelf life and historical return activity, including activity for product sold for which the return period has passed, as well as other relevant factors. Because returned product cannot be resold, there is no corresponding asset for product returns. The Company's revenues disaggregated by operating segment and major sources for the three and six months ended June 30, 2024 and 2023 were as follows: Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 USG Non-USG Total USG Non-USG Total Commercial Product sales $ 0.1 $ 119.9 $ 120.0 $ 0.3 $ 137.6 $ 137.9 MCM Product sales 30.6 32.8 63.4 150.2 14.1 164.3 Bioservices: Services (1) — 64.5 64.5 — 26.4 26.4 Leases — 0.2 0.2 — 2.7 2.7 Total Bioservices $ — $ 64.7 $ 64.7 $ — $ 29.1 $ 29.1 Contracts and grants 6.6 — 6.6 4.6 2.0 6.6 Total revenues $ 37.3 $ 217.4 $ 254.7 $ 155.1 $ 182.8 $ 337.9 (1) Bioservices Services revenues for the three months ended June 30, 2024 include $50.0 million attributable to the confidential arbitration settlement (the “Settlement Agreement”) with Janssen Pharmaceuticals, Inc. (“Janssen”), one of the Janssen Pharmaceutical Companies of Johnson & Johnson, related to the 2022 termination of manufacturing services agreement with Janssen (the “Janssen Agreement”). The revenue is related to raw materials purchased for the Janssen Agreement which Janssen had not reimbursed. See Note 16, “Litigation” for additional information related to the accounting treatment and settlement of the arbitration with Janssen. Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 USG Non-USG Total USG Non-USG Total Commercial Product sales $ 0.4 $ 238.1 $ 238.5 $ 0.3 $ 243.8 $ 244.1 MCM Product sales 144.7 74.1 218.8 176.3 25.2 201.5 Bioservices: Services (1) — 82.8 82.8 — 39.0 39.0 Leases — 0.4 0.4 — 4.5 4.5 Total Bioservices $ — $ 83.2 $ 83.2 $ — $ 43.5 $ 43.5 Contracts and grants 14.0 0.6 14.6 9.5 3.6 13.1 Total revenues $ 159.1 $ 396.0 $ 555.1 $ 186.1 $ 316.1 $ 502.2 (1) Bioservices Services revenues for the six months ended June 30, 2024 include $50.0 million attributable to the Settlement Agreement. The revenue is related to raw materials purchased for the Janssen Agreement which Janssen had not reimbursed. See Note 16, “Litigation” for additional information related to the Settlement Agreement and its accounting treatment. Bioservices operating leases Certain multi-year Bioservices arrangements with non-USG customers include operating leases whereby the customer has the right to direct the use of and obtain substantially all of the economic benefits of specific manufacturing suites operated by the Company. 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 4.5 years. The Company utilizes a cost-plus model to determine the stand-alone selling price of the lease component to allocate contract consideration between the lease and non-lease components. During the three and six months ended June 30, 2024, the Company's non-USG lease revenues were $0.2 million and $0.4 million, respectively, which is included within Bioservices "Leases" on the Condensed Consolidated Statement of Operations. The Company estimates future operating lease revenues to be $0.4 million in the remainder of 2024, $0.8 million in 2025, $0.9 million in 2026, $0.9 million in 2027, $0.9 million in 2028 and no lease revenue in 2029 and thereafter. Transaction price allocated to remaining performance obligations As of June 30, 2024, the Company has future contract value on unsatisfied performance obligations of approximately $383.7 million associated with all arrangements entered into by the Company. The Company expects to recognize $361.3 million 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 associated 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. 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 accounts receivable and deferred costs associated with revenue generating contracts, which are not included in inventory or property, plant and equipment and that the Company does not currently have a contractual right to bill, to be contract assets. As of June 30, 2024 and December 31, 2023, the Company had $8.0 million an d $21.9 million , respectively, of contract assets recorded within "Accounts receivable, net" on the Condensed Consolidated Balance Sheets. 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 Condensed 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: Contract Liabilities Balance at December 31, 2023 $ 29.9 Balance at June 30, 2024 $ 9.7 Revenue recognized in the period from amounts included in contract liability at the beginning of the period: $ 25.0 As of June 30, 2024 and December 31, 2023, the current portion of contract liabilities was $6.2 million and $27.2 million, respectively, and was included in "Other current liabilities" on the Condensed Consolidated Balance Sheets. Accounts receivable and allowance for expected credit losses Accounts receivable, including unbilled accounts receivable contract assets, consist of the following: June 30, 2024 December 31, 2023 Accounts receivable: Billed $ 120.7 $ 141.8 Unbilled 82.5 51.4 Allowance for expected credit losses (6.9) (2.2) Accounts receivable, net $ 196.3 $ 191.0 We maintain an allowance for expected credit losses, which represents the estimated aggregate amount of credit risk arising from the inability or unwillingness of specific customers to pay our fees or disputes that may affect our ability to fully collect our billed accounts receivable. We estimate the current-period provision for expected credit losses on a specific identification basis and we consider factors such as the age of the receivables balance, knowledge of the specific customers' circumstances and historical collection experience for similar customers. Accounts receivable, net of the allowance for expected credit losses, represents the amount we expect to collect. Our actual experience may vary from our estimates. At each reporting date, we adjust the allowance for expected credit losses to reflect our current estimate.

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	Leases The Company is the lessee for operating leases for offices, R&D facilities and manufacturing facilities. The Company determines if an arrangement is a lease at inception. Operating leases are included in right-of-use assets and liabilities. For a discussion of lessor activities, see Note 13, "Revenue recognition." The components of lease expense were as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating lease cost: Amortization of right-of-use assets $ 0.9 $ 0.9 $ 1.8 $ 2.0 Interest on lease liabilities 0.2 0.2 0.4 0.4 Total operating lease cost $ 1.1 $ 1.1 $ 2.2 $ 2.4 Operating lease costs are reflected as components of "Cost of Commercial Product sales", "Cost of MCM Product sales", "Cost of Bioservices", "R&D" expense and "SG&A" expense on the Company's Condensed Consolidated Statements of Operations. Supplemental balance sheet information related to lessee activities is as follows: Leases Classification June 30, 2024 December 31, 2023 Operating lease right-of-use assets Other assets $ 13.7 $ 16.2 Operating lease liabilities, current portion Other current liabilities $ 3.1 $ 3.5 Operating lease liabilities Other liabilities 11.5 13.8 Total operating lease liabilities $ 14.6 $ 17.3 Operating leases: Weighted average remaining lease term (years) 6.1 6.2 Weighted average discount rate 5.3 % 5.3 %

Income taxes

Income taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The estimated effective annual tax rate as of June 30, 2024 and 2023 for the years ended December 31, 2024 and 2023, excluding the impact of discrete adjustments, was 19% and (8)%, respectively. The effective tax rate for the six months ended June 30, 2024 and 2023 was (6)% and (9)%, respectively. The increase in the estimated effective annual tax rate is primarily due to a change in jurisdictional mix of income and losses. The Company did not record a discrete tax expense (benefit) for the three and six months ended June 30, 2024 and 2023. The Company establishes valuation allowances for deferred income tax assets in accordance with U.S. GAAP, which provides that such valuation allowances shall be established unless realization of the income tax benefits is more likely than not. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. At each reporting period, the Company considers the scheduled reversal of deferred tax liabilities and assets, available taxes in carryback periods, tax planning strategies and projected future taxable income in making this assessment. In 2022, the Company determined that it was more likely than not that certain deferred tax assets would not be realized due to reductions in estimates of future profitability and disclosure related to substantial doubt about the Company's ability to continue as a going concern.

Litigation

Litigation	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Litigation	Litigation Securities and shareholder litigation With respect to the specific legal proceedings and claims described below, unless otherwise noted, the amount or range of possible losses is not reasonably estimable. There can be no assurance that the settlement, resolution, or other outcome of one or more matters, including the matters set forth below, during any subsequent reporting period will not have a material adverse effect on the Company's results of operations or cash flows for that period or on the Company's financial condition. On April 20, 2021, May 14, 2021, and June 2, 2021, putative 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 Exchange Act. These complaints were filed by Palm Tran, Inc. – Amalgamated Transit Union Local 1577 Pension Plan; Alan I. Roth; and Stephen M. Weiss, respectively. The complaints allege, among other things, that the defendants made false and misleading statements about the Company's manufacturing capabilities with respect to COVID-19 vaccine bulk drug substance (referred to herein as "CDMO Manufacturing Capabilities"). These cases were consolidated on December 23, 2021, under the caption In re Emergent BioSolutions Inc. Securities Litigation, No. 8:21-cv-00955-PWG (the "Federal Securities Class Action"). The lead plaintiffs in the consolidated matter (the "Lead Plaintiffs") are Nova Scotia Health Employees’ Pension Plan and The City of Fort Lauderdale Police & Firefighters’ Retirement System. An order granting Lead Plaintiff’s motion for class certification and appointment of class representatives was entered on June 18, 2024. The defendants believe that the allegations in the complaints are without merit and intend to defend the matters vigorously. 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 the consolidated action. On June 29, 2021, Lincolnshire Police Pension Fund (“Lincolnshire”), and on August 16, 2021, Pooja Sayal, filed putative shareholder derivative lawsuits in the United States District Court for the District of Maryland on behalf of the Company against certain of the Company's current and former officers and directors for breach of fiduciary duties, waste of corporate assets, and unjust enrichment, each allegation related to the CDMO Manufacturing Capabilities. In addition to monetary damages, the complaints seek the implementation of multiple corporate governance and internal policy changes. On November 16, 2021, the cases were consolidated under the caption In re Emergent BioSolutions Inc. Stockholder Derivative Litigation, Master Case No. 8:21-cv-01595-PWG. On January 3, 2022, the Lincolnshire complaint was designated as the operative complaint in the consolidated action. On April 13, 2022, the Court approved the parties' joint stipulation to and stay of the proceedings and discovery until the close of fact discovery in the Federal Securities Class Action. The defendants believe that the allegations in the complaints are without merit and intend to defend the matter vigorously. On September 15, 2021, September 16, 2021 and November 12, 2021, putative shareholder derivative lawsuits were filed by Chang Kyum Kim, Mark Nevins and Employees Retirement System of the State of Rhode Island, North Collier Fire Control and Rescue District Firefighters Pension Plan, and Pembroke Pines Firefighters & Police Officers Pension Fund, respectively, 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 CDMO Manufacturing Capabilities. In addition to monetary damages, the complaints seek the implementation of multiple corporate governance and internal policy changes. On February 2, 2022, the cases were consolidated under the caption In re Emergent BioSolutions, Inc. Derivative Litigation, C.A. No. 2021-0974-MTZ with the institutional investors as co-lead plaintiffs. On March 4, 2022, the defendants’ filed a motion to dismiss the complaint. Ruling on this motion is stayed pursuant to a March 29, 2022 order staying all proceedings pending a final, non-appealable judgment in the Federal Securities Class Action. On December 3, 2021, December 22, 2021 and January 18, 2022, putative shareholder derivative lawsuits were filed by Zachary Elton, Eric White and Jeffrey Reynolds in the Circuit Court for Montgomery County, Maryland on behalf of the Company against certain of its current and former officers and directors for breach of fiduciary duty, unjust enrichment, waste of corporate assets, failing to maintain internal controls, making or causing to be made false and/or misleading statements and material omissions, insider trading and otherwise violating the federal securities laws, each allegation related to the CDMO Manufacturing Capabilities. The complaints seek monetary and punitive damages. On February 22, 2022, the Court entered an order consolidating these actions under case number C-15-21-CV-000496. On March 9, 2022, the parties filed a Joint Stipulation of Stay of Proceedings and Discovery, pursuant to which the parties agreed to stay all proceedings until 30 calendar days after a ruling on the defendants’ motion to dismiss, and on November 2, 2023, the Court approved the parties' joint stipulation to extend the stay of the proceedings and discovery until the close of fact discovery in the Federal Securities Class Action. In addition to the above actions, the Company received inquiries and subpoenas to produce documents related to these matters from the Department of Justice, the SEC, the Maryland Attorney General’s Office, and the New York Attorney General’s Office. The Company produced documents as required in response and will continue to cooperate with these government inquiries should further requests be made. The Company also received inquiries and subpoenas from Representative Carolyn Maloney and Representative Jim Clyburn, members of the House Committee on Oversight and Reform and the Select Subcommittee on the Coronavirus Crisis and Senator Murray of the Committee on Health, Education, Labor and Pensions. The Company produced documents and provided testimony and briefings as requested in response to these inquiries and the Select Subcommittee released its final report related to the coronavirus crisis on December 9, 2022. 2022 Termination of manufacturing services agreement with Janssen Pharmaceuticals, Inc. On July 2, 2020, the Company, through its wholly owned subsidiary, Emergent Manufacturing Operations Baltimore, LLC, entered into the Janssen Agreement with Janssen, for large-scale drug substance manufacturing of Johnson & Johnson’s investigational SARS-CoV-2 vaccine, Ad26.COV2-S, recombinant based on the AdVac technology (the “Product”). On June 6, 2022, the Company provided to Janssen a notice (the “Notice”) of material breach of the Janssen Agreement for, among other things, failure by Janssen (i) to provide the Company the requisite forecasts of the required quantity of Product to be purchased by Janssen under the Janssen Agreement and (ii) to confirm Janssen’s intent to not purchase the requisite minimum quantity of the Product pursuant to the Janssen Agreement and instead, wind-down the Janssen Agreement ahead of fulfilling these minimum requirements. On June 6, 2022, the Company received from Janssen a purported written notice of termination (the “Janssen Notice”) of the Janssen Agreement for asserted material breaches of the Janssen Agreement by the Company, including alleged failure by the Company to perform its obligations in compliance with current good manufacturing practices or other applicable laws and regulations and alleged failure by the Company to supply Janssen with the Product. Janssen alleged that the Company’s breaches were not curable and that, therefore, termination of the Janssen Agreement would be effective as of July 6, 2022. On June 14, 2022, Janssen filed a Demand for Arbitration and on July 29, 2022 the Company filed its Answering Statement and counterclaims. On July 3, 2024, the Company and Janssen entered into the Settlement Agreement to resolve all claims among the parties arising from the Janssen Agreement and the activities referenced above. Pursuant to the terms of the Settlement Agreement, Janssen paid the Company $50.0 million on July 31, 2024. See Note 18, “Subsequent events" for more information on the Settlement Agreement. During the three months ended June 30, 2024, there were no impacts on previously recognized revenue or depreciation related to the conclusion of the Janssen Agreement. As of June 30, 2024, the Company has no billed or unbilled net accounts receivable related to the Janssen Agreement.

Segment information

Segment information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment information	Segment information In the fourth quarter of 2023, the Company realigned its reportable operating segments to reflect recent changes in the Company’s internal operating and reporting process. The revised reporting structure reflects the internal reporting and review process used by the Company’s CODM for making decisions and assessing performance and is consistent with how the Company currently manages the business. The Company now manages its business with a focus on three reportable segments. The Commercial Products segment, which includes NARCAN ® products and other commercial products that were sold as part of the travel health business in the second quarter of 2023 (see Note 4, "Divestiture" for more information on the sale of the travel health business); the MCM Products segment, which includes the Anthrax - MCM products, Smallpox - MCM products and Other Products; and the Services segment, consisting of the Company’s Bioservices offerings. The Company evaluates the performance of these reportable segments based on revenue and segment adjusted gross margin, which is a non-GAAP financial measure. Segment revenue includes external customer sales, but it does not include inter-segment services. The Company defines segment adjusted gross margin, as segment gross margin excluding the impact of restructuring costs and non-cash items related to changes in fair value of contingent consideration and inventory step-up provision. We define total segment adjusted gross margin, which is a non-GAAP financial measure, as total segment gross margin, excluding the impact of restructuring costs and the fair value of contingent consideration. The Company does not allocate research and development, selling, general and administrative costs, amortization of intangibles assets, interest and other income (expense) or taxes to operating segments in the management reporting reviewed by the CODM. The accounting policies for segment reporting are the same as for the Company as a whole. The Company manages its assets on a total company basis, not by operating segment, as the Company's operating assets are shared or commingled. Therefore, the Company's CODM does not regularly review any asset information by operating segment and, accordingly, the Company does not report asset information by operating segment. For all tables presented below, the prior period disclosures have been recast to conform to the current period segment presentation. The following table presents segment revenues, segment cost of sales or services, segment gross margin, segment gross margin percentage and segment adjusted gross margin for each of the Company’s reportable segments for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenues: Commercial Products $ 120.0 $ 137.9 $ 238.5 $ 244.1 MCM Products 63.4 164.3 218.8 201.5 Services 64.7 29.1 83.2 43.5 Segment revenues 248.1 331.3 540.5 489.1 Contracts and grants revenue 6.6 6.6 14.6 13.1 Total revenues $ 254.7 $ 337.9 $ 555.1 $ 502.2 Cost of sales or services: Cost of Commercial Products $ 53.4 $ 54.4 $ 105.5 100.2 Cost of MCM Products 31.1 80.5 93.3 135.9 Cost of Services 211.6 55.7 241.9 107.4 Total cost of sales or services $ 296.1 $ 190.6 $ 440.7 $ 343.5 Gross margin Commercial Products $ 66.6 $ 83.5 $ 133.0 $ 143.9 MCM Products 32.3 83.8 125.5 65.6 Services (146.9) (26.6) (158.7) (63.9) Total segment gross margin (1) $ (48.0) $ 140.7 $ 99.8 $ 145.6 Gross margin % Commercial Products 56 % 61 % 56 % 59 % MCM Products 51 % 51 % 57 % 33 % Services (227) % (91) % (191) % (147) % Total Segment (19) % 42 % 18 % 30 % Segment adjusted gross margin Commercial Products $ 66.6 $ 83.5 $ 133.0 $ 143.9 MCM Products 35.1 86.1 128.7 70.2 Services (36.3) (26.6) (48.3) (63.9) Total segment adjusted gross margin $ 65.4 $ 143.0 $ 213.4 $ 150.2 (1) Segment revenues less total cost of sales or services. The following table provides a reconciliation of the Company's total segment adjusted gross margin to the Condensed Consolidated Statement of Operations: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Total segment adjusted gross margin $ 65.4 $ 143.0 $ 213.4 $ 150.2 Reconciling items: Contracts and grants revenue $ 6.6 $ 6.6 $ 14.6 $ 13.1 Segment restructuring costs (3.1) — (2.8) (2.0) Segment inventory step-up provision — (1.9) — (1.9) Changes in fair value of contingent consideration (0.1) (0.4) (0.6) (0.7) Settlement charge, net (110.2) — (110.2) — Impairment of long-lived assets (27.2) (306.7) (27.2) (306.7) Research and development (32.7) (26.0) (47.8) (66.7) Selling, general and administrative (85.9) (91.4) (170.6) (192.7) Amortization of intangible assets (16.3) (16.1) (32.5) (33.1) Interest expense (23.6) (28.6) (47.9) (46.5) Gain (loss) on sale of business and assets held for sale (40.0) 74.9 (40.0) 74.9 Other, net (2.7) (3.6) (6.1) 1.3 Loss before income taxes $ (269.8) $ (250.2) $ (257.7) $ (410.8) The following table includes depreciation expense for each segment: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Depreciation: Commercial Products $ — $ — $ — $ 0.3 MCM Products 5.6 7.5 $ 11.2 $ 15.2 Services 2.6 8.4 5.2 16.3 Other 4.0 0.9 7.5 2.6 Total $ 12.2 $ 16.8 $ 23.9 $ 34.4

Subsequent events

Subsequent events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent events	Subsequent events Confidential arbitration settlement with Janssen On July 3, 2024, the Company, its wholly owned subsidiary, Emergent Manufacturing Operations Baltimore, LLC (“EMOB”), and Janssen executed the Settlement Agreement to resolve all claims among the Parties arising from the Janssen Agreement. The Settlement Agreement also resolves the Parties’ related and previously disclosed arbitration. Pursuant to the terms of the Settlement Agreement, Janssen paid the Company $50.0 million on July 31, 2024. In addition, the Settlement Agreement contains broad releases of the parties, their affiliates and subsidiaries, representatives, officers, directors and shareholders, including releases of all claims related to the manufacture of the Product by EMOB, the Janssen Agreement, or any agreement or understanding between the parties concerning the Product, and the matters at issue in the arbitration. The Company concluded this is a recognized subsequent event. See Note 16, “Litigation" for more information on the Settlement Agreement and its accounting treatment. Development milestone payments for CHIKV VLP On July 18, 2024, Bavarian Nordic announced that the European Medicines Agency has validated the marketing authorization application for CHIKV VLP, which was submitted in June 2024. This approval triggered a milestone payment under the Purchase and Sale Agreement to the Company in the amount of $10.0 million, which is expected to be received in the third quarter of 2024. 2024 Sale of RSDL® to SERB Pharmaceuticals On July 31, 2024, the Company entered into the RSDL ® Agreement with SERB, pursuant to which, among other things, the Company sold its worldwide rights to RSDL ® to SERB . The RSDL ® Transaction also included the sale of all the outstanding capital stock of Emergent Protective Products USA Inc. (“EPPU”), a wholly owned subsidiary of the Company, which leases a manufacturing facility in Hattiesburg, Mississippi, as well as certain assets related to RSDL ® , including intellectual property rights, contract rights, inventory and marketing authorizations. In addition, the employees of EPPU are expected to join SERB in connection with the RSDL ® Transaction . Pursuant to the RSDL ® Transaction, SERB will assume certain government contracts related to RSDL ® decontamination lotion, including the Company’s existing contract to supply RSDL ® to the U.S. Department of Defense, through a new contract award to the Canadian Commercial Corporation. The RSDL ® Agreement provided for a cash purchase price of $75.0 million at the closing of the RSDL ® Transaction, which is subject to customary adjustments based on inventory value at closing. In addition, SERB will pay the Company a $5.0 million payment upon achievement of a milestone relating to sourcing of a certain component of RSDL ® decontamination lotion. The Company and SERB made customary representations, warranties, and covenants in the RSDL ® Agreement. In addition, the Company agreed, for a period of three years following the closing of the RSDL ® Transaction, not to make, import, export, use, sell or otherwise dispose of, any product that is intended to remove or neutralize chemical warfare agents from the skin, including any product that contains the same chemical components as RSDL ® , or to engage in a similar competing business. At the closing of the RSDL ® Transaction, the Company and SERB also entered into a transition services agreement to ensure the orderly transition of RSDL ® decontamination lotion and the related assets to SERB, and a supply agreement pursuant to which the Company’s Winnipeg facility will continue to manufacture and supply bulk lotion to SERB under a long-term supply agreement. The Company and SERB will also enter into a reverse supply agreement shortly after the closing of the RSDL ® Transaction pursuant to which SERB will supply to the Company finished RSDL ® for the purposes of the Company performing certain transitional distribution services.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net loss	$ (283.1)	$ 9	$ (261.4)	$ (186.2)	$ (274.1)	$ (447.6)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of presentation and consolidation	Basis of presentation and consolidation 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 Securities and Exchange Commission ("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, 2023, as filed with the SEC on March 8, 2024. 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 June 30, 2024. Interim results are not necessarily indicative of results that may be expected for any other interim period or for an entire year.
Fair value measurements	Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability, an exit price, in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value, includes: Level 1 — Observable inputs for identical assets or liabilities such as quoted prices in active markets; Level 2 — Inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3 — Unobservable inputs in which little or no market data exists, which are therefore developed by the Company using estimates and assumptions that reflect those that a market participant would use. On a recurring basis, the Company measures and records money market funds (Level 1), interest-rate swap arrangements and time deposits (Level 2) and contingent purchase consideration (Level 3) using fair value measurements in the accompanying financial statements. The carrying amounts of the Company's short-term financial instruments, which include cash and cash equivalents, accounts receivable and accounts payable approximate their fair values due to their short maturities. The carrying amounts of the Company’s long-term variable interest rate debt arrangements (Level 2) approximate their fair values.
New accounting standards	New accounting standards From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board that the Company adopts as of the pronouncement's specified effective date. Accounting Standards Not Yet Adopted In November 2023, the Financial Accounting Standards board ("FASB") issued Accounting Standards Update ("ASU") 2023-07 ("ASU 2023-07"), Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves reportable segment disclosure requirements, on an annual and interim basis, primarily through enhanced disclosures about significant segment expenses. Additionally, it requires a public entity to disclose the title and position of the Chief Operating Decision Maker ("CODM"). The ASU does not change how a public entity identifies its operating segments, aggregates them, or applies the quantitative thresholds to determine its reportable segments. The amendments in the ASU are effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, although early adoption is permitted. The Company is in the process of evaluating the impact of this new guidance on its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires a public business entity to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. The amendments in the ASU are effective for public business entities for annual periods beginning after December 15, 2024, although early adoption is permitted. The Company is in the process of evaluating the impact of this new guidance on it consolidated financial statements.
Revenue recognition	The Company's OTC NARCAN ® customer contracts are fixed price contracts. The Company invoices and records revenue when the pharmacies and wholesalers receive product from the third-party logistics warehouse used by the Company, which is the point at which control is transferred to the customer. Revenues for OTC NARCAN ® are recorded at the net sales price (transaction price), which includes estimates of variable consideration for which reserves are established. Estimates of variable consideration include allowance for returns, specialty distributor fees, wholesaler fees and prompt payment discounts. OTC NARCAN ® may also be sold on consignment through third-party online retailers where revenues are recognized at the point in time when sold to the end customer. The Company pays these third-party online retailers selling commissions and fulfillment fees which are recorded as SG&A expenses and Cost of Commercial Product sales, respectively, in the Condensed Consolidated Statement of Operations. Revenues from OTC NARCAN ® are recognized to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with such variable consideration is subsequently resolved. The Company considers several factors in the estimation process for the allowance for returns of OTC NARCAN ® , including inventory levels within the distribution channel, product shelf life and historical return activity, including activity for product sold for which the return period has passed, as well as other relevant factors. Because returned product cannot be resold, there is no corresponding asset for product returns.

Assets and liabilities held f_2

Assets and liabilities held for sale (Tables)	6 Months Ended
	Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Schedule of assets and liabilities held for sale	Assets and liabilities classified as held for sale in the Condensed Consolidated Balance Sheets as of June 30, 2024 consist of the following: June 30, 2024 Assets held for sale: Accounts receivable, net $ 21.5 Inventories, net 28.9 Prepaid expenses and other current assets 0.5 Property, plant and equipment, net 22.1 Other assets 0.7 Valuation allowance (40.0) Total assets held for sale $ 33.7 Liabilities held for sale: Accounts payable $ 6.5 Accrued compensation 2.5 Other current liabilities 0.3 Other liabilities 0.8 Total liabilities held for sale $ 10.1

Impairment and restructuring _2

Impairment and restructuring charges (Tables)	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Schedule of Impairment of Long-Lived Assets Held and Used by Asset	The table below presents the total impairment charge by asset class for the three months ended June 30, 2024 and 2023: Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Buildings, building improvements and leasehold improvements 7.8 81.5 Furniture and equipment 14.1 117.5 Software 0.2 0.3 Construction-in-progress 5.1 107.4 Total impairment of long-lived assets $ 27.2 $ 306.7
Schedule of Restructuring and Related Costs	The following table presents the total restructuring costs related to the January 2023 Plan, August 2023 Plan and May 2024 Plan by reportable segment as well as amounts included within unallocated corporate selling general and administrative (“SG&A”) expense and research and development ("R&D") expense: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Commercial Products $ — $ — $ — $ — MCM Products 2.7 — 2.6 2.0 Services 0.4 — 0.2 — Total restructuring costs by segment 3.1 — 2.8 2.0 SG&A 8.6 0.1 8.5 5.1 R&D 5.4 (0.2) 5.3 2.5 Total restructuring costs $ 17.1 $ (0.1) $ 16.6 $ 9.6 The following table presents the total restructuring costs related to the January 2023 Plan, August 2023 Plan and May 2024 Plan by function: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Employee transition $ 0.2 $ — $ 0.2 $ 0.3 Severance payments 14.8 0.1 14.3 8.8 Employee benefits 2.1 (0.2) 2.1 0.5 Total restructuring costs $ 17.1 $ (0.1) $ 16.6 $ 9.6
Schedule of Restructuring Reserve by Type of Cost	The following tables provide the components of and changes in the Company's restructuring accrual for the January 2023 Plan during the three and six months ended June 30, 2024 and 2023: Employee Transition Severance Payments Employee Benefits Total Balance at December 31, 2023 $ — $ 1.4 $ — $ 1.4 Cash payments — (1.3) — (1.3) Balance at March 31, 2024 $ — $ 0.1 $ — $ 0.1 Cash payments — (0.1) — (0.1) Balance at June 30, 2024 $ — $ — $ — $ — Employee Transition Severance Payments Employee Benefits Total Balance at December 31, 2022 $ — $ — $ — $ — Accruals 0.3 8.7 0.7 9.7 Cash payments (0.2) (2.0) (0.1) (2.3) Balance at March 31, 2023 $ 0.1 $ 6.7 $ 0.6 $ 7.4 Accruals — 0.1 (0.2) (0.1) Cash payments — (3.6) (0.1) (3.7) Balance at June 30, 2023 $ 0.1 $ 3.2 $ 0.3 $ 3.6 The following table provides the components of and changes in the Company's restructuring accrual for the August 2023 Plan during the three and six months ended June 30, 2024: Employee Transition Severance Payments Employee Benefits Total Balance at December 31, 2023 $ — $ 5.3 $ 0.1 $ 5.4 Accruals — (0.5) — (0.5) Cash payments — (3.6) — (3.6) Balance at March 31, 2024 $ — $ 1.2 $ 0.1 $ 1.3 Accruals — (0.1) — (0.1) Cash payments — (0.5) (0.1) (0.6) Balance at June 30, 2024 $ — $ 0.6 $ — $ 0.6 The following table provides the components of and changes in the Company's restructuring accrual for the May 2024 Plan during the three months ended June 30, 2024: Employee Transition Severance Payments Employee Benefits Total Balance at March 31, 2024 $ — $ — $ — $ — Accruals 0.2 14.8 2.2 17.2 Cash payments (0.2) — — (0.2) Balance at June 30, 2024 $ — $ 14.8 $ 2.2 $ 17.0

Inventories, net (Tables)

Inventories, net (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories, net consisted of the following: June 30, 2024 December 31, 2023 Raw materials and supplies $ 97.2 $ 128.7 Work-in-process 136.5 113.3 Finished goods 83.8 86.9 Total inventories, net $ 317.5 $ 328.9

Property, plant and equipment_2

Property, plant and equipment, net (Tables)	6 Months Ended
	Jun. 30, 2024
Property Plant and Equipment Income Statement Disclosures [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment, net consisted of the following: June 30, 2024 December 31, 2023 Land and improvements $ 28.8 $ 30.0 Buildings, building improvements and leasehold improvements 209.0 229.9 Furniture and equipment 389.5 433.6 Software 68.6 64.0 Construction-in-progress 11.0 36.7 Property, plant and equipment, gross $ 706.9 $ 794.2 Less: Accumulated depreciation and amortization (400.7) (411.4) Total property, plant and equipment, net $ 306.2 $ 382.8

Intangible assets and goodwill

Intangible assets and goodwill (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The following table summarizes the Company's finite-lived intangible assets: Weighted Average Useful Life in Years June 30, 2024 December 31, 2023 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Products 13.5 $ 855.4 $ 321.3 $ 534.1 $ 855.4 $ 288.8 $ 566.6 Customer relationships 0.0 28.6 28.6 — 28.6 28.6 — CDMO 0.0 5.5 5.5 — 5.5 5.5 — Total intangible assets $ 889.5 $ 355.4 $ 534.1 $ 889.5 $ 322.9 $ 566.6
Schedule of Finite-lived Intangible Assets Amortization Expense	Amortization expense associated with the Company's finite-lived intangible assets was recorded as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Amortization of intangible assets $ 16.3 $ 16.1 $ 32.5 $ 33.1

Fair value measurements (Tables

Fair value measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value Hierarchy of Assets and Liabilities	The table below presents information about the Company's assets and liabilities that are regularly measured and carried at fair value and indicates the level within the fair value hierarchy of the valuation techniques the Company utilized to determine fair value: June 30, 2024 December 31, 2023 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Money market accounts $ 10.9 $ 10.9 $ — $ — $ 40.5 $ 40.5 $ — $ — Total $ 10.9 $ 10.9 $ — $ — $ 40.5 $ 40.5 $ — $ — Liabilities: Contingent consideration $ 4.3 $ — $ — $ 4.3 $ 5.6 $ — $ — $ 5.6 Total $ 4.3 $ — $ — $ 4.3 $ 5.6 $ — $ — $ 5.6
Schedule of Contingent Consideration Roll Forward	The table below is a reconciliation of the beginning and ending balance of the Company's Level 3 contingent consideration liability: Contingent Consideration Balance at December 31, 2023 $ 5.6 Change in fair value 0.5 Settlements (0.6) Balance at March 31, 2024 $ 5.5 Change in fair value 0.1 Settlements (1.3) Balance at June 30, 2024 $ 4.3 Contingent Consideration Balance at December 31, 2022 $ 8.0 Change in fair value 0.3 Settlements (0.7) Balance at March 31, 2023 $ 7.6 Change in fair value 0.4 Settlements (0.6) Balance at June 30, 2023 $ 7.4
Schedule of Fair Value Level 3 of Significant Unobservable Inputs	The recurring Level 3 fair value measurement for the Company's contingent consideration liability used the following significant unobservable inputs: Contingent Consideration Liability Fair Value as of June 30, 2024 Valuation Technique Unobservable Input Range Royalty based $4.3 million Discounted cash flow Discount rate 9.9% Probability of payment 0% - 50% Projected year of payment 2024 - 2028

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	The table below presents the components of the Company’s debt: June 30, 2024 December 31, 2023 Senior secured credit agreement - Term loan due 2025 $ 190.3 $ 198.2 Senior secured credit agreement - Revolver loan due 2025 222.7 219.2 3.875% Senior Unsecured Notes due 2028 450.0 450.0 Other 0.8 1.0 Total debt $ 863.8 $ 868.4 Current portion of long-term debt, net of debt issuance costs (415.2) (413.7) Unamortized debt issuance costs (1.6) (8.2) Non-current portion of debt, net of debt issuance costs $ 447.0 $ 446.5

Share-based compensation and _2

Share-based compensation and stockholders' equity (Tables)	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of Stock-based Compensation Expense	Share-based compensation expense, net of forfeitures was recorded in the following financial statement line items: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Cost of Commercial Product sales $ — $ — $ — $ 0.1 Cost of MCM Product sales 0.6 1.2 1.3 2.5 Cost of Bioservices 0.2 0.3 0.3 0.6 R&D 0.5 0.4 1.0 1.1 Selling, general and administrative 4.2 6.4 8.8 10.8 Total share-based compensation expense $ 5.5 $ 8.3 $ 11.4 $ 15.1
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table includes changes in accumulated other comprehensive income (loss), net of tax by component: Defined Benefit Pension Plan Derivative Instruments Foreign Currency Total Balance at December 31, 2023 $ — $ — $ (5.7) $ (5.7) Other comprehensive income before reclassifications — — 0.2 0.2 Net current period other comprehensive income — — 0.2 0.2 Balance at March 31, 2024 $ — $ — $ (5.5) $ (5.5) Other comprehensive income (loss) before reclassifications — — — — Net current period other comprehensive loss — — — — Balance at June 30, 2024 $ — $ — $ (5.5) $ (5.5) Balance at December 31, 2022 $ 3.5 $ 6.2 $ (6.6) $ 3.1 Other comprehensive loss before reclassifications — (4.4) (0.1) (4.5) Amounts reclassified from accumulated other comprehensive income — 2.4 — 2.4 Net current period other comprehensive loss — (2.0) (0.1) (2.1) Balance at March 31, 2023 $ 3.5 $ 4.2 $ (6.7) $ 1.0 Other comprehensive income before reclassifications — 1.2 2.6 3.8 Amounts reclassified from accumulated other comprehensive loss (3.5) (2.9) — (6.4) Net current period other comprehensive income (loss) (3.5) (1.7) 2.6 (2.6) Balance at June 30, 2023 $ — $ 2.5 $ (4.1) $ (1.6)
Schedule of Comprehensive Income (Loss)	The tables below present the tax effects related to each component of other comprehensive income (loss): Three Months Ended June 30, 2024 2023 Pretax Tax Expense Net of tax Pretax Tax Expense Net of tax Defined benefit pension plan $ — $ — $ — $ (4.1) $ 0.6 $ (3.5) Derivative instruments — — — (2.4) 0.7 (1.7) Foreign currency translation adjustments — — — 2.1 0.5 2.6 Total adjustments $ — $ — $ — $ (4.4) $ 1.8 $ (2.6) Six Months Ended June 30, 2024 2023 Pretax Tax Expense Net of tax Pretax Tax Expense Net of tax Defined benefit pension plan $ — $ — $ — $ (4.1) $ 0.6 $ (3.5) Derivative instruments — — — (5.0) 1.3 (3.7) Foreign currency translation adjustments 0.2 — 0.2 2.0 0.5 2.5 Total adjustments $ 0.2 $ — $ 0.2 $ (7.1) $ 2.4 $ (4.7)

Loss per common share (Tables)

Loss per common share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Loss per Common Share	The following table presents the calculation of basic and diluted loss per common share: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Numerator: Net loss $ (283.1) $ (261.4) $ (274.1) $ (447.6) Denominator: Weighted-average number of shares outstanding-basic 52.6 50.7 52.4 50.5 Weighted-average number of shares outstanding-diluted 52.6 50.7 52.4 50.5 Net loss per common share - basic $ (5.38) $ (5.16) $ (5.23) $ (8.86) Net loss per common share - diluted $ (5.38) $ (5.16) $ (5.23) $ (8.86) Anti-dilutive securities 2.3 3.6 3.4 3.4

Revenue recognition (Tables)

Revenue recognition (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The Company's revenues disaggregated by operating segment and major sources for the three and six months ended June 30, 2024 and 2023 were as follows: Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 USG Non-USG Total USG Non-USG Total Commercial Product sales $ 0.1 $ 119.9 $ 120.0 $ 0.3 $ 137.6 $ 137.9 MCM Product sales 30.6 32.8 63.4 150.2 14.1 164.3 Bioservices: Services (1) — 64.5 64.5 — 26.4 26.4 Leases — 0.2 0.2 — 2.7 2.7 Total Bioservices $ — $ 64.7 $ 64.7 $ — $ 29.1 $ 29.1 Contracts and grants 6.6 — 6.6 4.6 2.0 6.6 Total revenues $ 37.3 $ 217.4 $ 254.7 $ 155.1 $ 182.8 $ 337.9 (1) Bioservices Services revenues for the three months ended June 30, 2024 include $50.0 million attributable to the confidential arbitration settlement (the “Settlement Agreement”) with Janssen Pharmaceuticals, Inc. (“Janssen”), one of the Janssen Pharmaceutical Companies of Johnson & Johnson, related to the 2022 termination of manufacturing services agreement with Janssen (the “Janssen Agreement”). The revenue is related to raw materials purchased for the Janssen Agreement which Janssen had not reimbursed. See Note 16, “Litigation” for additional information related to the accounting treatment and settlement of the arbitration with Janssen. Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 USG Non-USG Total USG Non-USG Total Commercial Product sales $ 0.4 $ 238.1 $ 238.5 $ 0.3 $ 243.8 $ 244.1 MCM Product sales 144.7 74.1 218.8 176.3 25.2 201.5 Bioservices: Services (1) — 82.8 82.8 — 39.0 39.0 Leases — 0.4 0.4 — 4.5 4.5 Total Bioservices $ — $ 83.2 $ 83.2 $ — $ 43.5 $ 43.5 Contracts and grants 14.0 0.6 14.6 9.5 3.6 13.1 Total revenues $ 159.1 $ 396.0 $ 555.1 $ 186.1 $ 316.1 $ 502.2 (1) Bioservices Services revenues for the six months ended June 30, 2024 include $50.0 million attributable to the Settlement Agreement. The revenue is related to raw materials purchased for the Janssen Agreement which Janssen had not reimbursed. See Note 16, “Litigation” for additional information related to the Settlement Agreement and its accounting treatment.
Schedule of Rollforward of Contract Liabilities	The following table presents the roll forward of the contract liability balances: Contract Liabilities Balance at December 31, 2023 $ 29.9 Balance at June 30, 2024 $ 9.7 Revenue recognized in the period from amounts included in contract liability at the beginning of the period: $ 25.0
Schedule of Accounts Receivable, Net	Accounts receivable, including unbilled accounts receivable contract assets, consist of the following: June 30, 2024 December 31, 2023 Accounts receivable: Billed $ 120.7 $ 141.8 Unbilled 82.5 51.4 Allowance for expected credit losses (6.9) (2.2) Accounts receivable, net $ 196.3 $ 191.0

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule of Components of Lease Expense	The components of lease expense were as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating lease cost: Amortization of right-of-use assets $ 0.9 $ 0.9 $ 1.8 $ 2.0 Interest on lease liabilities 0.2 0.2 0.4 0.4 Total operating lease cost $ 1.1 $ 1.1 $ 2.2 $ 2.4
Schedule of Leases Supplemental Balance Sheets	Supplemental balance sheet information related to lessee activities is as follows: Leases Classification June 30, 2024 December 31, 2023 Operating lease right-of-use assets Other assets $ 13.7 $ 16.2 Operating lease liabilities, current portion Other current liabilities $ 3.1 $ 3.5 Operating lease liabilities Other liabilities 11.5 13.8 Total operating lease liabilities $ 14.6 $ 17.3 Operating leases: Weighted average remaining lease term (years) 6.1 6.2 Weighted average discount rate 5.3 % 5.3 %

Segment information (Tables)

Segment information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table presents segment revenues, segment cost of sales or services, segment gross margin, segment gross margin percentage and segment adjusted gross margin for each of the Company’s reportable segments for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenues: Commercial Products $ 120.0 $ 137.9 $ 238.5 $ 244.1 MCM Products 63.4 164.3 218.8 201.5 Services 64.7 29.1 83.2 43.5 Segment revenues 248.1 331.3 540.5 489.1 Contracts and grants revenue 6.6 6.6 14.6 13.1 Total revenues $ 254.7 $ 337.9 $ 555.1 $ 502.2 Cost of sales or services: Cost of Commercial Products $ 53.4 $ 54.4 $ 105.5 100.2 Cost of MCM Products 31.1 80.5 93.3 135.9 Cost of Services 211.6 55.7 241.9 107.4 Total cost of sales or services $ 296.1 $ 190.6 $ 440.7 $ 343.5 Gross margin Commercial Products $ 66.6 $ 83.5 $ 133.0 $ 143.9 MCM Products 32.3 83.8 125.5 65.6 Services (146.9) (26.6) (158.7) (63.9) Total segment gross margin (1) $ (48.0) $ 140.7 $ 99.8 $ 145.6 Gross margin % Commercial Products 56 % 61 % 56 % 59 % MCM Products 51 % 51 % 57 % 33 % Services (227) % (91) % (191) % (147) % Total Segment (19) % 42 % 18 % 30 % Segment adjusted gross margin Commercial Products $ 66.6 $ 83.5 $ 133.0 $ 143.9 MCM Products 35.1 86.1 128.7 70.2 Services (36.3) (26.6) (48.3) (63.9) Total segment adjusted gross margin $ 65.4 $ 143.0 $ 213.4 $ 150.2 (1) Segment revenues less total cost of sales or services. The following table provides a reconciliation of the Company's total segment adjusted gross margin to the Condensed Consolidated Statement of Operations: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Total segment adjusted gross margin $ 65.4 $ 143.0 $ 213.4 $ 150.2 Reconciling items: Contracts and grants revenue $ 6.6 $ 6.6 $ 14.6 $ 13.1 Segment restructuring costs (3.1) — (2.8) (2.0) Segment inventory step-up provision — (1.9) — (1.9) Changes in fair value of contingent consideration (0.1) (0.4) (0.6) (0.7) Settlement charge, net (110.2) — (110.2) — Impairment of long-lived assets (27.2) (306.7) (27.2) (306.7) Research and development (32.7) (26.0) (47.8) (66.7) Selling, general and administrative (85.9) (91.4) (170.6) (192.7) Amortization of intangible assets (16.3) (16.1) (32.5) (33.1) Interest expense (23.6) (28.6) (47.9) (46.5) Gain (loss) on sale of business and assets held for sale (40.0) 74.9 (40.0) 74.9 Other, net (2.7) (3.6) (6.1) 1.3 Loss before income taxes $ (269.8) $ (250.2) $ (257.7) $ (410.8)
Schedule of Segment Reporting Information, by Segment	The following table includes depreciation expense for each segment: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Depreciation: Commercial Products $ — $ — $ — $ 0.3 MCM Products 5.6 7.5 $ 11.2 $ 15.2 Services 2.6 8.4 5.2 16.3 Other 4.0 0.9 7.5 2.6 Total $ 12.2 $ 16.8 $ 23.9 $ 34.4

Nature of the business and or_2

Nature of the business and organization (Details)	6 Months Ended
	Jun. 30, 2024 segment category product Category
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of categories of public health threats | category	4
Number of revenue generating products | product	11
Number of product and service categories | Category	4
Number of operating segments	3
Number of reportable segments	3

Summary of significant accoun_3

Summary of significant accounting policies (Details) - USD ($)	Dec. 01, 2024	Apr. 29, 2024	Mar. 31, 2024	Feb. 29, 2024	Jun. 30, 2024	Feb. 28, 2024	Dec. 31, 2023	Jun. 30, 2023	Aug. 07, 2020
Debt Instrument [Line Items]
Total debt					$ 863,800,000		$ 868,400,000
Cash and cash equivalents					69,700,000		111,700,000	$ 88,600,000
Line of Credit
Debt Instrument [Line Items]
Total debt					222,700,000		219,200,000
Senior Unsecured Notes Due August 2028 | Senior Notes
Debt Instrument [Line Items]
Total debt					$ 450,000,000		$ 450,000,000		$ 450,000,000
Stated percentage					3.875%		3.875%		3.875%
Revolving Credit Facility | Term Loan
Debt Instrument [Line Items]
Total debt					$ 190,300,000		$ 198,200,000
Revolving Credit Facility | Amended Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Debt instrument, mandatory prepayment threshold						$ 125,000,000
Revolving Credit Facility | Seventh Amendment | Line of Credit
Debt Instrument [Line Items]
Debt instrument, covenant, consideration threshold		$ 85,000,000
Debt instrument, mandatory prepayment, percentage of net cash proceeds		100%
Debt instrument, mandatory prepayment threshold		$ 85,000,000
Debt instrument, amendment fee, percent		0.50%
Revolving Credit Facility | Seventh Amendment | Line of Credit | Forecast
Debt Instrument [Line Items]
Debt instrument, amendment fee, percent	1%
Revolving Credit Facility | Seventh Amendment | Line of Credit | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		7%
Revolving Credit Facility | Seventh Amendment | Line of Credit | SOFR, RFR And Eurocurrency
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		8.50%
Revolving Credit Facility | Seventh Amendment - Through July 30, 2024 | Line of Credit
Debt Instrument [Line Items]
Current borrowing capacity		$ 240,000,000
Revolving Credit Facility | Seventh Amendment - From July 31, 2024 Through September 29, 2024 | Line of Credit
Debt Instrument [Line Items]
Current borrowing capacity		210,000,000
Revolving Credit Facility | Seventh Amendment - From September 30, 2024 Through October 30, 2024 | Line of Credit
Debt Instrument [Line Items]
Current borrowing capacity		205,000,000
Revolving Credit Facility | Seventh Amendment - From October 31, 2024 Through November 29, 2024 | Line of Credit
Debt Instrument [Line Items]
Current borrowing capacity		180,000,000
Revolving Credit Facility | Seventh Amendment - On November 30, 2024 And Thereafter | Line of Credit
Debt Instrument [Line Items]
Current borrowing capacity		$ 170,000,000
Revolving Credit Facility | Forbearance Agreement And Amendment | Line of Credit
Debt Instrument [Line Items]
Current borrowing capacity				$ 270,000,000
Debt instrument, mandatory prepayment threshold				$ 100,000,000
Revolving Credit Facility | Forbearance Agreement And Amendment | Line of Credit | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				5%
Revolving Credit Facility | Forbearance Agreement And Amendment | Line of Credit | SOFR, RFR And Eurocurrency
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				6.50%
Term Loan Facility | Amended Credit Agreement
Debt Instrument [Line Items]
Debt instrument, covenant, consideration threshold			$ 75,000,000

Assets and liabilities held f_3

Assets and liabilities held for sale - Narrative (Details) $ in Millions		3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 20, 2024 USD ($) employee	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on assets held for sale		$ 40	$ (74.9)	$ 40	$ (74.9)	$ (74.2)
Disposal Group, Held-for-Sale, Not Discontinued Operations | Baltimore-Camden Facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total value	$ 30
Number of employees expected to join Bora Pharmaceuticals | employee	350
Transaction costs		$ 3.9

Assets and liabilities held f_4

Assets and liabilities held for sale - Schedule of assets and liabilities held for sale (Details) - Disposal Group, Held-for-Sale, Not Discontinued Operations - Baltimore-Camden Facility $ in Millions	Jun. 30, 2024 USD ($)
Assets held for sale:
Accounts receivable, net	$ 21.5
Inventories, net	28.9
Prepaid expenses and other current assets	0.5
Property, plant and equipment, net	22.1
Other assets	0.7
Valuation allowance	(40)
Total assets held for sale	33.7
Liabilities held for sale:
Accounts payable	6.5
Accrued compensation	2.5
Other current liabilities	0.3
Other liabilities	0.8
Total liabilities held for sale	$ 10.1

Divestiture (Details)

Divestiture (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 18, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	May 15, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale of business		$ (40)	$ 74.9	$ (40)	$ 74.9	$ 74.2
Transaction costs						$ 4
Other income (expense), net		(66.3)	42.7	(94)	29.7
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Travel Health Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash purchase price for sale of business							$ 270.2
Other income (expense), net		$ 0.1	$ 1	$ 0.5	$ 1
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Travel Health Business | Development-Based Milestones
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Milestone payments receivable							80
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Travel Health Business | Development-Based Milestones | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Increase in contingent consideration, asset	$ 10
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Travel Health Business | Sales-Based Milestones
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Milestone payments receivable							$ 30

Impairment and restructuring _3

Impairment and restructuring charges - Narrative (Details) $ in Millions	1 Months Ended			3 Months Ended		6 Months Ended
	May 31, 2024 positions employee	Aug. 31, 2023 employee	Jan. 31, 2023 employee	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Impairment of long-lived assets				$ 27.2	$ 306.7	$ 27.2	$ 306.7
January 2023 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Workforce reduction | employee			125
Restructuring charges incurred since inception				9.3		9.3
August 2023 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Workforce reduction | employee		400
Restructuring charges incurred since inception				19.4		19.4
May 2024 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Workforce reduction | employee	300
Restructuring charges incurred since inception				$ 17.2		$ 17.2
Number of currently vacant positions eliminated | positions	85

Impairment and restructuring _4

Impairment and restructuring charges - Schedule of Impairment of Long-Lived Assets Held and Used by Asset (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets	$ 27.2	$ 306.7	$ 27.2	$ 306.7
Buildings, building improvements and leasehold improvements
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets	7.8	81.5
Furniture and equipment
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets	14.1	117.5
Software
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets	0.2	0.3
Construction-in-progress
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets	$ 5.1	$ 107.4

Impairment and restructuring _5

Impairment and restructuring charges - Schedule Restructuring and Related Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring Cost and Reserve [Line Items]
Segment restructuring costs	$ 17.1	$ (0.1)	$ 16.6	$ 9.6
R&D
Restructuring Cost and Reserve [Line Items]
Segment restructuring costs	5.4	(0.2)	5.3	2.5
Employee transition
Restructuring Cost and Reserve [Line Items]
Segment restructuring costs	0.2	0	0.2	0.3
Severance payments
Restructuring Cost and Reserve [Line Items]
Segment restructuring costs	14.8	0.1	14.3	8.8
Employee benefits
Restructuring Cost and Reserve [Line Items]
Segment restructuring costs	2.1	(0.2)	2.1	0.5
Total restructuring costs by segment
Restructuring Cost and Reserve [Line Items]
Segment restructuring costs	3.1	0	2.8	2
SG&A
Restructuring Cost and Reserve [Line Items]
Segment restructuring costs	8.6	0.1	8.5	5.1
Commercial Products | Total restructuring costs by segment
Restructuring Cost and Reserve [Line Items]
Segment restructuring costs	0	0	0	0
MCM Products | Total restructuring costs by segment
Restructuring Cost and Reserve [Line Items]
Segment restructuring costs	2.7	0	2.6	2
Services | Total restructuring costs by segment
Restructuring Cost and Reserve [Line Items]
Segment restructuring costs	$ 0.4	$ 0	$ 0.2	$ 0

Impairment and restructuring _6

Impairment and restructuring charges - Schedule of Restructuring Reserve by Type of Cost (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring Reserve [Roll Forward]
Accruals	$ 17.1		$ (0.1)		$ 16.6	$ 9.6
January 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0.1	$ 1.4	7.4	$ 0	1.4	0
Accruals			(0.1)	9.7
Cash payments	(0.1)	(1.3)	(3.7)	(2.3)
Ending balance	0	0.1	3.6	7.4	0	3.6
August 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	1.3	5.4			5.4
Accruals	(0.1)	(0.5)
Cash payments	(0.6)	(3.6)
Ending balance	0.6	1.3			0.6
May 2024 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0
Accruals	17.2
Cash payments	(0.2)
Ending balance	17	0			17
Employee transition
Restructuring Reserve [Roll Forward]
Accruals	0.2		0		0.2	0.3
Employee transition | January 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0	0	0.1	0	0	0
Accruals			0	0.3
Cash payments	0	0	0	(0.2)
Ending balance	0	0	0.1	0.1	0	0.1
Employee transition | August 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0	0			0
Accruals	0	0
Cash payments	0	0
Ending balance	0	0			0
Employee transition | May 2024 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0
Accruals	0.2
Cash payments	(0.2)
Ending balance	0	0			0
Severance payments
Restructuring Reserve [Roll Forward]
Accruals	14.8		0.1		14.3	8.8
Severance payments | January 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0.1	1.4	6.7	0	1.4	0
Accruals			0.1	8.7
Cash payments	(0.1)	(1.3)	(3.6)	(2)
Ending balance	0	0.1	3.2	6.7	0	3.2
Severance payments | August 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	1.2	5.3			5.3
Accruals	(0.1)	(0.5)
Cash payments	(0.5)	(3.6)
Ending balance	0.6	1.2			0.6
Severance payments | May 2024 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0
Accruals	14.8
Cash payments	0
Ending balance	14.8	0			14.8
Employee benefits
Restructuring Reserve [Roll Forward]
Accruals	2.1		(0.2)		2.1	0.5
Employee benefits | January 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0	0	0.6	0	0	0
Accruals			(0.2)	0.7
Cash payments	0	0	(0.1)	(0.1)
Ending balance	0	0	$ 0.3	$ 0.6	0	$ 0.3
Employee benefits | August 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0.1	0.1			0.1
Accruals	0	0
Cash payments	(0.1)	0
Ending balance	0	0.1			0
Employee benefits | May 2024 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0
Accruals	2.2
Cash payments	0
Ending balance	$ 2.2	$ 0			$ 2.2

Impairment and restructuring _7

Impairment and restructuring charges - Schedule of Impairment of Long-Lived Assets Held and Used by Asset (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets	$ 27.2	$ 306.7	$ 27.2	$ 306.7
Buildings, building improvements and leasehold improvements
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets	7.8	81.5
Furniture and equipment
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets	14.1	117.5
Software
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets	0.2	0.3
Construction-in-progress
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets	$ 5.1	$ 107.4

Inventories, net - Schedule of

Inventories, net - Schedule of Inventory (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 97.2	$ 128.7
Work-in-process	136.5	113.3
Finished goods	83.8	86.9
Total inventories, net	$ 317.5	$ 328.9

Property, plant and equipment_3

Property, plant and equipment, net - Schedule of Property, Plant, and Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	$ 706.9	$ 794.2
Less: Accumulated depreciation and amortization	(400.7)	(411.4)
Total property, plant and equipment, net	306.2	382.8
Land and improvements
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	28.8	30
Buildings, building improvements and leasehold improvements
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	209	229.9
Furniture and equipment
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	389.5	433.6
Software
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	68.6	64
Construction-in-progress
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	$ 11	$ 36.7

Intangible assets and goodwil_2

Intangible assets and goodwill - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 889.5	$ 889.5
Accumulated Amortization	355.4	322.9
Net Carrying Amount	$ 534.1	566.6
Products
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life in Years	13 years 6 months
Gross Carrying Amount	$ 855.4	855.4
Accumulated Amortization	321.3	288.8
Net Carrying Amount	$ 534.1	566.6
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life in Years	0 years
Gross Carrying Amount	$ 28.6	28.6
Accumulated Amortization	28.6	28.6
Net Carrying Amount	$ 0	0
CDMO
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life in Years	0 years
Gross Carrying Amount	$ 5.5	5.5
Accumulated Amortization	5.5	5.5
Net Carrying Amount	$ 0	$ 0

Intangible assets and goodwil_3

Intangible assets and goodwill - Schedule of Finite-lived Intangible Assets Amortization Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 16.3	$ 16.1	$ 32.5	$ 33.1

Intangible assets and goodwil_4

Intangible assets and goodwill - Narrative (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 0	$ 0

Fair value measurements - Sched

Fair value measurements - Schedule of Fair Value Hierarchy of Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 10.9	$ 40.5
Contingent consideration	4.3	5.6
Total	4.3	5.6
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	10.9	40.5
Contingent consideration	0	0
Total	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0	0
Contingent consideration	0	0
Total	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0	0
Contingent consideration	4.3	5.6
Total	4.3	5.6
Money market accounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	10.9	40.5
Money market accounts | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	10.9	40.5
Money market accounts | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Money market accounts | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	$ 0

Fair value measurements - Sch_2

Fair value measurements - Schedule of Contingent Consideration Roll Forward (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Unobservable Input Reconciliation [Roll Forward]
Balance, beginning of period	$ 5.5	$ 5.6	$ 7.6	$ 8
Change in fair value	0.1	0.5	0.4	0.3
Settlements	(1.3)	(0.6)	(0.6)	(0.7)
Balance, end of period	$ 4.3	$ 5.5	$ 7.4	$ 7.6

Fair value measurements - Narra

Fair value measurements - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Business combination, contingent consideration, liability, current	$ 1.7	$ 2.7
Senior Unsecured Notes Due August 2028 | Senior Notes
Debt Instrument [Line Items]
Long-term debt, fair value	$ 292.5	$ 184.3

Fair value measurements - Sch_3

Fair value measurements - Schedule of Fair Value Level 3 of Significant Unobservable Inputs (Details) $ in Millions	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, measurement with unobservable inputs reconciliation, recurring basis, liability value	$ 4.3	$ 5.5	$ 5.6	$ 7.4	$ 7.6	$ 8
Level 3 | Fair Value, Recurring | Discount rate | Discounted cash flow
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Business combination, contingent consideration, liability, measurement input	0.099
Level 3 | Fair Value, Recurring | Probability of payment | Discounted cash flow | Minimum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Business combination, contingent consideration, liability, measurement input	0
Level 3 | Fair Value, Recurring | Probability of payment | Discounted cash flow | Maximum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Business combination, contingent consideration, liability, measurement input	0.50

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023	Aug. 07, 2020
Debt Instrument [Line Items]
Total debt	$ 863.8	$ 868.4
Current portion of long-term debt, net of debt issuance costs	(415.2)	(413.7)
Unamortized debt issuance costs	(1.6)	(8.2)
Non-current portion of debt, net of debt issuance costs	447	446.5
Other
Debt Instrument [Line Items]
Total debt	0.8	1
Line of Credit
Debt Instrument [Line Items]
Total debt	$ 222.7	$ 219.2
Senior Notes | Senior Unsecured Notes Due August 2028
Debt Instrument [Line Items]
Stated percentage	3.875%	3.875%	3.875%
Total debt	$ 450	$ 450	$ 450
Revolving Credit Facility | Term Loan
Debt Instrument [Line Items]
Total debt	$ 190.3	$ 198.2

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)					6 Months Ended
	Dec. 01, 2024	Apr. 29, 2024	Feb. 29, 2024	Aug. 07, 2020	Jun. 30, 2024	Jun. 30, 2023	Feb. 28, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Debt issuance costs, current, net					$ 1,100,000			$ 5,300,000
Cash collateral for borrowed securities					500,000
Total debt					863,800,000			868,400,000
Amortization of deferred financing costs					11,900,000	$ 9,900,000
Line of Credit
Debt Instrument [Line Items]
Total debt					222,700,000			219,200,000
Term Loan | Revolving Credit Facility
Debt Instrument [Line Items]
Total debt					$ 190,300,000			$ 198,200,000
Senior Unsecured Notes Due August 2028 | Prior to August 15, 2023
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage				100%
Senior Unsecured Notes Due August 2028 | Upon the occurrence of a change in control | Maximum
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage				101%
Senior Unsecured Notes Due August 2028 | Senior Notes
Debt Instrument [Line Items]
Stated percentage				3.875%	3.875%			3.875%
Total debt				$ 450,000,000	$ 450,000,000			$ 450,000,000
Forbearance Agreement And Amendment | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Current borrowing capacity			$ 270,000,000
Line of credit facility, unused capacity, commitment fee percentage			0.40%
Debt instrument, mandatory prepayment threshold			$ 100,000,000
Debt instrument, mandatory principal prepayment percentage			100%
Debt instrument, fee amount			$ 1,200,000
Forbearance Agreement And Amendment | Line of Credit | Revolving Credit Facility | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			5%
Forbearance Agreement And Amendment | Line of Credit | Revolving Credit Facility | SOFR, SONIA And Eurocurrency
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			6.50%
Forbearance Agreement And Amendment | Line of Credit | Revolving Credit Facility | SOFR, RFR And Eurocurrency
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			6.50%
Amended Credit Agreement | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, mandatory prepayment threshold							$ 125,000,000
Debt instrument, mandatory principal prepayment percentage							75%
Seventh Amendment | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, mandatory prepayment threshold		$ 85,000,000
Debt instrument, covenant, consideration threshold		$ 85,000,000
Debt instrument, mandatory prepayment, percentage of net cash proceeds		100%
Debt instrument, amendment fee, percent		0.50%
Debt Issuance Costs, Gross		$ 3,200,000
Seventh Amendment | Line of Credit | Revolving Credit Facility | Forecast
Debt Instrument [Line Items]
Debt instrument, amendment fee, percent	1%
Seventh Amendment | Line of Credit | Revolving Credit Facility | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		7%
Seventh Amendment | Line of Credit | Revolving Credit Facility | SOFR, RFR And Eurocurrency
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		8.50%
Seventh Amendment | Term Loan
Debt Instrument [Line Items]
Debt Issuance Costs, Gross		$ 1,000,000
Amortization of deferred financing costs		1,400,000
Seventh Amendment - Through July 30, 2024 | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Current borrowing capacity		240,000,000
Seventh Amendment - From July 31, 2024 Through September 29, 2024 | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Current borrowing capacity		210,000,000
Seventh Amendment - From September 30, 2024 Through October 30, 2024 | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Current borrowing capacity		205,000,000
Seventh Amendment - From October 31, 2024 Through November 29, 2024 | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Current borrowing capacity		180,000,000
Seventh Amendment - On November 30, 2024 And Thereafter | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Current borrowing capacity		$ 170,000,000

Share-based compensation and _3

Share-based compensation and stockholders' equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	May 17, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested options forfeited (in shares)			200,000
At-The-Market Offering
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of stock, aggregate offering amount, maximum				$ 150
Sale of stock, number of shares issued in transaction (in shares)	0	1,100,000
Sale of stock, consideration received on transaction, gross		$ 9.1
Sale of stock, price per share (in dollars per share)		$ 8.22
Sale of stock, amount remaining available for sale of shares	$ 140.9		$ 140.9
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)			4,000,000
Stock Options | Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			33.33%
Stock Options | Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			33.33%
Stock Options | Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			33.33%
Performance Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)			800,000
Award vesting period			5 years
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options granted (in shares)			200,000
Equity instruments other than options, forfeited in period (in shares)			100,000
Restricted Stock Units | Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			33.33%
Restricted Stock Units | Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			33.33%
Restricted Stock Units | Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			33.33%
Long-Term Incentive Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted long-term incentive award			$ 8
Award vesting period			5 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Performance Shares | Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			33.33%
Performance Shares | Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			33.33%
Performance Shares | Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			33.33%

Share-based compensation and _4

Share-based compensation and stockholders' equity - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 5.5	$ 8.3	$ 11.4	$ 15.1
Cost of Commercial Product sales | Total Product sales, net
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	0	0	0	0.1
Cost of Commercial Product sales | MCM Product sales
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	0.6	1.2	1.3	2.5
Cost of Commercial Product sales | Total Bioservices revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	0.2	0.3	0.3	0.6
R&D
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	0.5	0.4	1	1.1
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 4.2	$ 6.4	$ 8.8	$ 10.8

Share-based compensation and _5

Share-based compensation and stockholders' equity - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 663.9	$ 649.3	$ 1,204.1	$ 1,387.7	$ 649.3	$ 1,387.7
Other comprehensive income before reclassifications	0	0.2	3.8	(4.5)
Amounts reclassified from accumulated other comprehensive loss			(6.4)	2.4
Total other comprehensive income (loss), net of tax	0	0.2	(2.6)	(2.1)	0.2	(4.7)
Ending balance	386.3	663.9	957.7	1,204.1	386.3	957.7
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(5.5)	(5.7)	1	3.1	(5.7)	3.1
Total other comprehensive income (loss), net of tax		0.2	(2.6)	(2.1)
Ending balance	(5.5)	(5.5)	(1.6)	1	(5.5)	(1.6)
Defined Benefit Pension Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	0	0	3.5	3.5	0	3.5
Other comprehensive income before reclassifications	0	0	0	0
Amounts reclassified from accumulated other comprehensive loss			(3.5)	0
Total other comprehensive income (loss), net of tax	0	0	(3.5)	0	0	(3.5)
Ending balance	0	0	0	3.5	0	0
Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	0	0	4.2	6.2	0	6.2
Other comprehensive income before reclassifications	0	0	1.2	(4.4)
Amounts reclassified from accumulated other comprehensive loss			(2.9)	2.4
Total other comprehensive income (loss), net of tax	0	0	(1.7)	(2)	0	(3.7)
Ending balance	0	0	2.5	4.2	0	2.5
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(5.5)	(5.7)	(6.7)	(6.6)	(5.7)	(6.6)
Other comprehensive income before reclassifications	0	0.2	2.6	(0.1)
Amounts reclassified from accumulated other comprehensive loss			0	0
Total other comprehensive income (loss), net of tax	0	0.2	2.6	(0.1)	0.2	2.5
Ending balance	$ (5.5)	$ (5.5)	$ (4.1)	$ (6.7)	$ (5.5)	$ (4.1)

Share-based compensation and _6

Share-based compensation and stockholders' equity - Schedule of Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pretax	$ 0		$ (4.4)		$ 0.2	$ (7.1)
Tax Expense	0		1.8		0	2.4
Total other comprehensive income (loss), net of tax	0	$ 0.2	(2.6)	$ (2.1)	0.2	(4.7)
Defined Benefit Pension Plan
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pretax	0		(4.1)		0	(4.1)
Tax Expense	0		0.6		0	0.6
Total other comprehensive income (loss), net of tax	0	0	(3.5)	0	0	(3.5)
Derivative Instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pretax	0		(2.4)		0	(5)
Tax Expense	0		0.7		0	1.3
Total other comprehensive income (loss), net of tax	0	0	(1.7)	(2)	0	(3.7)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pretax	0		2.1		0.2	2
Tax Expense	0		0.5		0	0.5
Total other comprehensive income (loss), net of tax	$ 0	$ 0.2	$ 2.6	$ (0.1)	$ 0.2	$ 2.5

Loss per common share - Schedul

Loss per common share - Schedule of Basic and Diluted Net Loss per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net loss	$ (283.1)	$ 9	$ (261.4)	$ (186.2)	$ (274.1)	$ (447.6)
Denominator:
Weighted-average number of shares outstanding-basic (in shares)	52.6		50.7		52.4	50.5
Weighted-average number of shares outstanding-diluted (in shares)	52.6		50.7		52.4	50.5
Net loss per common share - basic (in dollars per share)	$ (5.38)		$ (5.16)		$ (5.23)	$ (8.86)
Net loss per common share - diluted (in dollars per share)	$ (5.38)		$ (5.16)		$ (5.23)	$ (8.86)
Anti-dilutive securities (in shares)	2.3		3.6		3.4	3.4

Revenue recognition - Schedule

Revenue recognition - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenues	$ 254.7	$ 337.9	$ 555.1	$ 502.2
Commercial Product sales
Disaggregation of Revenue [Line Items]
Revenue	120	137.9	238.5	244.1
MCM Product sales
Disaggregation of Revenue [Line Items]
Revenue	63.4	164.3	218.8	201.5
Total Bioservices revenues
Disaggregation of Revenue [Line Items]
Total Bioservices revenues	64.7	29.1	83.2	43.5
Services
Disaggregation of Revenue [Line Items]
Revenue	64.5	26.4	82.8	39
Leases
Disaggregation of Revenue [Line Items]
Leases	0.2	2.7	0.4	4.5
Contracts and grants
Disaggregation of Revenue [Line Items]
Revenue	6.6	6.6	14.6	13.1
USG
Disaggregation of Revenue [Line Items]
Total revenues	37.3	155.1	159.1	186.1
USG | Commercial Product sales
Disaggregation of Revenue [Line Items]
Revenue	0.1	0.3	0.4	0.3
USG | MCM Product sales
Disaggregation of Revenue [Line Items]
Revenue	30.6	150.2	144.7	176.3
USG | Total Bioservices revenues
Disaggregation of Revenue [Line Items]
Total Bioservices revenues	0	0	0	0
USG | Services
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
USG | Leases
Disaggregation of Revenue [Line Items]
Leases	0	0	0	0
USG | Contracts and grants
Disaggregation of Revenue [Line Items]
Revenue	6.6	4.6	14	9.5
Non-USG
Disaggregation of Revenue [Line Items]
Total revenues	217.4	182.8	396	316.1
Non-USG | Commercial Product sales
Disaggregation of Revenue [Line Items]
Revenue	119.9	137.6	238.1	243.8
Non-USG | MCM Product sales
Disaggregation of Revenue [Line Items]
Revenue	32.8	14.1	74.1	25.2
Non-USG | Total Bioservices revenues
Disaggregation of Revenue [Line Items]
Total Bioservices revenues	64.7	29.1	83.2	43.5
Non-USG | Services
Disaggregation of Revenue [Line Items]
Revenue	64.5	26.4	82.8	39
Non-USG | Leases
Disaggregation of Revenue [Line Items]
Leases	0.2	2.7	0.4	4.5
Non-USG | Contracts and grants
Disaggregation of Revenue [Line Items]
Revenue	0	$ 2	0.6	$ 3.6
Janssen Pharmaceuticals, Inc., | Services
Disaggregation of Revenue [Line Items]
Revenue	$ 50		$ 50

Revenue recognition - Narrative

Revenue recognition - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, amount	$ 383,700,000		$ 383,700,000
Contract with customer, asset, noncurrent	8,000,000		8,000,000		$ 21,900,000
Current portion of contract liabilities	$ 6,200,000		$ 6,200,000		$ 27,200,000
Non-USG
Disaggregation of Revenue [Line Items]
Lessee, operating lease, remaining lease term	4 years 6 months		4 years 6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, amount	$ 361,300,000		$ 361,300,000
Revenue, remaining performance obligation, expected timing of satisfaction, period	24 months		24 months
Leases
Disaggregation of Revenue [Line Items]
Leases	$ 200,000	$ 2,700,000	$ 400,000	$ 4,500,000
Lessor, operating lease, payment to be received, remainder of fiscal year	400,000		400,000
Lessor, operating lease, payment to be received, year one	800,000		800,000
Lessor, operating lease, payment to be received, year two	900,000		900,000
Lessor, operating lease, payment to be received, year three	900,000		900,000
Lessor, operating lease, payment to be received, year four	900,000		900,000
Lessor, operating lease, payment to be received, after year four	$ 0		$ 0

Revenue recognition - Schedul_2

Revenue recognition - Schedule of Rollforward of Contract Liabilities (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Change in Contract With Customer, Liability [Roll Forward]
Beginning of period	$ 29.9
End of period	9.7
Revenue recognized in the period from amounts included in contract liability at the beginning of the period:	$ 25

Revenue recognition - Schedul_3

Revenue recognition - Schedule of Accounts Receivable, Net (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Billed	$ 120.7	$ 141.8
Unbilled	82.5	51.4
Allowance for expected credit losses	(6.9)	(2.2)
Accounts receivable, net	$ 196.3	$ 191

Leases - Schedule of Components

Leases - Schedule of Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating lease cost:
Amortization of right-of-use assets	$ 0.9	$ 0.9	$ 1.8	$ 2
Interest on lease liabilities	0.2	0.2	0.4	0.4
Total operating lease cost	$ 1.1	$ 1.1	$ 2.2	$ 2.4

Leases - Schedule of Leases Sup

Leases - Schedule of Leases Supplemental Balance Sheets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Operating Leases
Operating lease right-of-use assets	$ 13.7	$ 16.2
Operating lease liabilities, current portion	3.1	3.5
Operating lease liabilities	11.5	13.8
Total operating lease liabilities	$ 14.6	$ 17.3
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities	Other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Operating leases:
Weighted average remaining lease term (years)	6 years 1 month 6 days	6 years 2 months 12 days
Weighted average discount rate	5.30%	5.30%

Income taxes (Details)

Income taxes (Details)	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2024	Dec. 31, 2023
Income Tax Examination [Line Items]
Effective tax rate	(6.00%)	(9.00%)		(8.00%)
Forecast
Income Tax Examination [Line Items]
Effective tax rate			19%

Litigation (Details)

Litigation (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2024	Jun. 30, 2023	Jul. 02, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Line Items]
Other assets	$ 18.7			$ 18.7			$ 194.3
Cost of goods and services sold	296.1	$ 190.6		440.7	$ 343.5
Inventory write-offs	110.2	0		110.2	0
Services
Commitments and Contingencies Disclosure [Line Items]
Revenue	64.5	26.4		82.8	39
Total Bioservices revenues
Commitments and Contingencies Disclosure [Line Items]
Cost of goods and services sold	211.6	$ 55.7		241.9	$ 107.4
Jansen Pharmaceuticals, Inc.
Commitments and Contingencies Disclosure [Line Items]
Increase in other assets			$ 152.7
Other assets	0			$ 0
Inventory write-offs	110.2
Jansen Pharmaceuticals, Inc. | Subsequent Event
Commitments and Contingencies Disclosure [Line Items]
Other assets						$ 158.7
Jansen Pharmaceuticals, Inc. | Services
Commitments and Contingencies Disclosure [Line Items]
Revenue	50
Jansen Pharmaceuticals, Inc. | Total Bioservices revenues
Commitments and Contingencies Disclosure [Line Items]
Cost of goods and services sold	$ 50

Segment information - Narrative

Segment information - Narrative (Details)	6 Months Ended
	Jun. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment information - Schedule

Segment information - Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Revenues:
Total revenues	$ 254.7	$ 337.9	$ 555.1	$ 502.2
Cost of sales or services:
Cost of goods and services sold	296.1	190.6	440.7	343.5
Gross margin	$ (48)	$ 140.7	$ 99.8	$ 145.6
Gross margin %	(19.00%)	42%	18%	30%
Segment adjusted gross margin	$ 65.4	$ 143	$ 213.4	$ 150.2
Reconciling items:
Segment restructuring costs	(17.1)	0.1	(16.6)	(9.6)
Segment inventory step-up provision	0	(1.9)	0	(1.9)
Changes in fair value of contingent consideration	(0.1)	(0.4)	(0.6)	(0.7)
Settlement charge, net	(110.2)	0	(110.2)	0
Impairment of long-lived assets	(27.2)	(306.7)	(27.2)	(306.7)
Research and development	(32.7)	(26)	(47.8)	(66.7)
Selling, general and administrative	(85.9)	(91.4)	(170.6)	(192.7)
Amortization of intangible assets	(16.3)	(16.1)	(32.5)	(33.1)
Interest expense	(23.6)	(28.6)	(47.9)	(46.5)
Gain (loss) on sale of business and assets held for sale	(40)	74.9	(40)	74.9	$ 74.2
Other, net	(2.7)	(3.6)	(6.1)	1.3
Loss before income taxes	(269.8)	(250.2)	(257.7)	(410.8)
Operating Segments
Revenues:
Revenue	248.1	331.3	540.5	489.1
Reconciling items:
Segment restructuring costs	(3.1)	0	(2.8)	(2)
Contracts and grants
Revenues:
Revenue	6.6	6.6	14.6	13.1
Reconciling items:
Contracts and grants revenue	6.6	6.6	14.6	13.1
Contracts and grants | Contracts and grants revenue
Revenues:
Revenue	6.6	6.6	14.6	13.1
Reconciling items:
Contracts and grants revenue	6.6	6.6	14.6	13.1
Commercial Products
Cost of sales or services:
Cost of goods and services sold	53.4	54.4	105.5	100.2
Gross margin	$ 66.6	$ 83.5	$ 133	$ 143.9
Gross margin %	56%	61%	56%	59%
Segment adjusted gross margin	$ 66.6	$ 83.5	$ 133	$ 143.9
Commercial Products | Operating Segments
Revenues:
Revenue	120	137.9	238.5	244.1
Reconciling items:
Contracts and grants revenue	120	137.9	238.5	244.1
Segment restructuring costs	0	0	0	0
MCM Products
Cost of sales or services:
Cost of goods and services sold	31.1	80.5	93.3	135.9
Gross margin	$ 32.3	$ 83.8	$ 125.5	$ 65.6
Gross margin %	51%	51%	57%	33%
Segment adjusted gross margin	$ 35.1	$ 86.1	$ 128.7	$ 70.2
MCM Products | Operating Segments
Revenues:
Revenue	63.4	164.3	218.8	201.5
Reconciling items:
Contracts and grants revenue	63.4	164.3	218.8	201.5
Segment restructuring costs	(2.7)	0	(2.6)	(2)
Services
Cost of sales or services:
Cost of goods and services sold	211.6	55.7	241.9	107.4
Gross margin	$ (146.9)	$ (26.6)	$ (158.7)	$ (63.9)
Gross margin %	(227.00%)	(91.00%)	(191.00%)	(147.00%)
Segment adjusted gross margin	$ (36.3)	$ (26.6)	$ (48.3)	$ (63.9)
Services | Operating Segments
Revenues:
Revenue	64.7	29.1	83.2	43.5
Reconciling items:
Segment restructuring costs	$ (0.4)	$ 0	$ (0.2)	$ 0

Segment information - Schedul_2

Segment information - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Depreciation:
Total	$ 12.2	$ 16.8	$ 23.9	$ 34.4
Other
Depreciation:
Total	4	0.9	7.5	2.6
Commercial Products | Operating Segments
Depreciation:
Total	0	0	0	0.3
MCM Products | Operating Segments
Depreciation:
Total	5.6	7.5	11.2	15.2
Services | Operating Segments
Depreciation:
Total	$ 2.6	$ 8.4	$ 5.2	$ 16.3

Subsequent events (Details)

Subsequent events (Details) - USD ($) $ in Millions	Jul. 31, 2024	Jul. 18, 2024	May 15, 2023
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Travel Health Business
Subsequent Event [Line Items]
Cash purchase price for sale of business			$ 270.2
Development-Based Milestones | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Travel Health Business
Subsequent Event [Line Items]
Milestone payments receivable			$ 80
Subsequent Event | Disposal Group, Disposed of by Sale, Not Discontinued Operations | RSDL
Subsequent Event [Line Items]
Cash purchase price for sale of business	$ 75
Milestone payments receivable	$ 5
Disposal group, including discontinued operation, additional period	3 years
Subsequent Event | Development-Based Milestones | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Travel Health Business
Subsequent Event [Line Items]
Increase in contingent consideration, asset		$ 10
Jansen Pharmaceuticals, Inc. | Subsequent Event
Subsequent Event [Line Items]
Proceeds from legal settlements	$ 50