Emergent BioSolutions (EBS) 10-Q 6 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Oct. 30, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 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		54,184,186
Entity Central Index Key	0001367644
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 149.9	$ 111.7
Restricted cash	6.5	0
Accounts receivable, net	121.3	191
Inventories, net	322.7	328.9
Prepaid expenses and other current assets	61	47.9
Total current assets	661.4	679.5
Property, plant and equipment, net	278.1	382.8
Intangible assets, net	517.8	566.6
Other assets	20.5	194.3
Total assets	1,477.8	1,823.2
Current liabilities:
Accounts payable	82.1	112.2
Accrued expenses	16.1	18.6
Accrued compensation	63.3	74.1
Debt, current portion	0.8	413.7
Other current liabilities	67.6	32.7
Total current liabilities	229.9	651.3
Debt, net of current portion	661.8	446.5
Deferred tax liability	41.9	47.2
Other liabilities	35.8	28.9
Total liabilities	969.4	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, 59.7 and 57.8 shares issued; 54.1 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	924.4	904.4
Accumulated other comprehensive loss, net	(7.3)	(5.7)
Accumulated deficit	(181.1)	(21.8)
Total stockholders’ equity	508.4	649.3
Total liabilities and stockholders’ equity	$ 1,477.8	$ 1,823.2

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 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)	59,700,000	57,800,000
Common stock, shares outstanding (in shares)	54,100,000	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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Total revenues	$ 293.8	$ 270.5	$ 848.9	$ 772.7
Operating expenses:
Cost of goods and services sold	122.6	176.8	563.3	520.3
Research and development	13.8	15.3	61.6	82
Selling, general and administrative	76.6	86	247.2	278.7
Amortization of intangible assets	16.3	16.3	48.8	49.4
Goodwill impairment	0	218.2	0	218.2
Impairment of long-lived assets	0	0	27.2	306.7
Total operating expenses	229.3	512.6	948.1	1,455.3
Income (loss) from operations	64.5	(242.1)	(99.2)	(682.6)
Other income (expense):
Interest expense	(8.3)	(19.7)	(56.2)	(66.2)
Gain (loss) on sale of business	64.3	(0.7)	24.3	74.2
Other, net	21.9	(3.4)	15.8	(2.1)
Total other income (expense), net	77.9	(23.8)	(16.1)	5.9
Income (loss) before income taxes	142.4	(265.9)	(115.3)	(676.7)
Income tax provision (benefit)	27.6	(2.5)	44	34.3
Net income (loss)	$ 114.8	$ (263.4)	$ (159.3)	$ (711)
Earnings (loss) per common share
Basic (in dollars per share)	$ 2.16	$ (5.08)	$ (3.03)	$ (13.97)
Diluted (in dollars per share)	$ 2.06	$ (5.08)	$ (3.03)	$ (13.97)
Weighted average shares outstanding
Basic (in shares)	53.1	51.8	52.6	50.9
Diluted (in shares)	55.6	51.8	52.6	50.9
Total Product sales, net
Revenues:
Product sales	$ 269.5	$ 249.8	$ 726.8	$ 695.4
Commercial Product sales
Revenues:
Product sales	95.3	142.1	333.8	386.2
Operating expenses:
Cost of goods and services sold	47.2	60	152.7	160.2
MCM Product sales
Revenues:
Product sales	174.2	107.7	393	309.2
Operating expenses:
Cost of goods and services sold	54	72.5	147.3	208.4
Total Bioservices revenues
Revenues:
Total Bioservices revenues	14.3	14.2	97.5	57.7
Operating expenses:
Cost of goods and services sold	21.4	44.3	263.3	151.7
Services
Revenues:
Product sales	13.9	13.2	96.7	52.2
Leases
Revenues:
Leases	0.4	1	0.8	5.5
Contracts and grants
Revenues:
Product sales	$ 10	$ 6.5	$ 24.6	$ 19.6

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 114.8	$ (263.4)	$ (159.3)	$ (711)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net	(1.8)	1.2	(1.6)	3.7
Unrealized gains (losses) on hedging activities	0	0.9	0	(2.3)
Reclassification adjustment for gains on hedging activities	0	(3.1)	0	(3.6)
Reclassification adjustment for gains on pension benefit obligation	0	0	0	(3.5)
Total other comprehensive income (loss), net of tax	(1.8)	(1)	(1.6)	(5.7)
Comprehensive income (loss), net of tax	$ 113	$ (264.4)	$ (160.9)	$ (716.7)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating Activities
Net income (loss)	$ (159.3)	$ (711)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Share-based compensation expense	13.7	19.1
Depreciation and amortization	82.8	95.5
Change in fair value of contingent obligations, net	0.6	(0.4)
Amortization of deferred financing costs	5.2	15.6
Deferred income taxes	(5.1)	(3.7)
Noncash gain on sale of business	(32.2)	(74.2)
Change in fair value of warrant and forward liabilities	(1.1)	0
Goodwill impairment	0	218.2
Impairment of long-lived assets	27.2	306.7
Loss on disposal of assets	28.9	13.9
Other	3.9	(5)
Changes in operating assets and liabilities:
Accounts receivable	52.7	(58.5)
Inventories	(35.5)	(25)
Prepaid expenses and other assets	146.3	(18.3)
Accounts payable	(22.8)	17.7
Accrued expenses and other liabilities	32.9	(30.2)
Long-term incentive plan accrual	2.5	3.7
Accrued compensation	(9.9)	(0.8)
Income taxes receivable and payable, net	26.6	(3.5)
Contract liabilities	(18.8)	1.8
Net cash provided by (used in) operating activities	138.6	(238.4)
Investing Activities
Purchases of property, plant and equipment	(21.2)	(40.2)
Proceeds from sale of property, plant and equipment	7.6	0
Milestone payment from prior asset acquisition	0	(6.3)
Proceeds from sale of business	110.2	270.2
Net cash provided by investing activities	96.6	223.7
Financing Activities
Proceeds from the issuance of debt, net of lender fees	219	0
Proceeds allocated to warrants issued in conjunction with debt	13.4	0
Proceeds allocated to common stock issued in conjunction with debt	9.3	0
Principal payments on term loan facility	(198.2)	(160.7)
Proceeds from revolving credit facility	65	0
Principal payments on revolving credit facility	(284.2)	(386.8)
Debt issuance costs	(14.6)	0
Proceeds from share-based compensation activity	0.7	1.3
Taxes paid for share-based compensation activity	(0.9)	(2.4)
Proceeds from at-the-market sale of stock, net of commissions and expenses	0	8.2
Net cash used in financing activities:	(190.5)	(540.4)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	0	0.3
Net change in cash, cash equivalents and restricted cash	44.7	(554.8)
Cash, cash equivalents and restricted cash, beginning of period	111.7	642.6
Cash, cash equivalents and restricted cash, end of period	156.4	87.8
Supplemental cash flow disclosures:
Cash paid for interest	55.8	56.5
Cash paid for income taxes	35.5	38.3
Non-cash investing and financing activities:
Purchases of property, plant and equipment unpaid at period end	1.6	9.2
Gain on extinguishments of debt	0.6	0
Issuance of common stock in conjunction with debt	7.7	0
Reconciliation of cash and cash equivalents and restricted cash:
Cash and cash equivalents	149.9	87.8
Restricted cash	6.5	0
Total	$ 156.4	$ 87.8

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 income (loss)	(186.2)					(186.2)
Share-based compensation activity (in shares)		0.3
Share-based compensation activity	4.7			4.7
Other comprehensive income (loss), 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 income (loss)	(711)
Other comprehensive income (loss), net of tax	(5.7)
Ending balance (in shares) at Sep. 30, 2023		57.4
Ending balance at Sep. 30, 2023	697.2	$ 0.1	$ (227.7)	899.7	(2.6)	27.7
Ending balance (in shares) at Sep. 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 income (loss)	(261.4)					(261.4)
Share-based compensation activity (in shares)		0.3
Share-based compensation activity	9.4			9.4
Issuance of common stock/At-the-market sale of stock, net of commissions and expenses (in shares)		1.1
Issuance of common stock/At-the-market sale of stock, net of commissions and expenses	8.2			8.2
Other comprehensive income (loss), 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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(263.4)					(263.4)
Share-based compensation activity	3.9			3.9
Other comprehensive income (loss), net of tax	(1)				(1)
Ending balance (in shares) at Sep. 30, 2023		57.4
Ending balance at Sep. 30, 2023	$ 697.2	$ 0.1	$ (227.7)	899.7	(2.6)	27.7
Ending balance (in shares) at Sep. 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 income (loss)	$ 9					9
Share-based compensation activity (in shares)		0.2
Share-based compensation activity	5.4			5.4
Other comprehensive income (loss), 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 income (loss)	$ (159.3)
Other comprehensive income (loss), net of tax	$ (1.6)
Ending balance (in shares) at Sep. 30, 2024	59.7	59.7
Ending balance at Sep. 30, 2024	$ 508.4	$ 0.1	$ (227.7)	924.4	(7.3)	(181.1)
Ending balance (in shares) at Sep. 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 income (loss)	(283.1)					(283.1)
Share-based compensation activity (in shares)		0.5
Share-based compensation activity	5.5			5.5
Other comprehensive income (loss), net of tax	0
Ending balance (in shares) at Jun. 30, 2024		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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	114.8					114.8
Share-based compensation activity (in shares)		0.1
Share-based compensation activity	1.4			1.4
Issuance of common stock/At-the-market sale of stock, net of commissions and expenses (in shares)		1.1
Issuance of common stock/At-the-market sale of stock, net of commissions and expenses	7.7			7.7
Other comprehensive income (loss), net of tax	$ (1.8)				(1.8)
Ending balance (in shares) at Sep. 30, 2024	59.7	59.7
Ending balance at Sep. 30, 2024	$ 508.4	$ 0.1	$ (227.7)	$ 924.4	$ (7.3)	$ (181.1)
Ending balance (in shares) at Sep. 30, 2024	(5.6)		(5.6)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 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	$ 0.001	$ 0.001

Nature of the business and orga

Nature of the business and organization	9 Months Ended
	Sep. 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 September 30, 2024, the Company has a product portfolio of 10 products that it is actively developing and/or marketing (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, previously, other commercial products, which were sold as part of our travel health business in the second quarter of 2023; see Note 3, “Divestitures” 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 16, “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 3, “Divestitures”. 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™; 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. Sale of RSDL ® On July 31, 2024, the Company entered into the Stock and Asset Purchase Agreement (the “RSDL ® Agreement”) with 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 3, “Divestitures” for more information on the RSDL ® Transaction. 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 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 August 20, 2024, pursuant to the previously announced Asset Purchase Agreement (the “Asset Purchase Agreement”), the Company completed the sale of its Drug Product facility in Baltimore-Camden (the “Camden Transaction”) to Bora Pharmaceuticals Injectables Inc., a subsidiary of Bora Pharmaceuticals Co., Ltd. (“Bora”). See Note 3, “Divestitures” and Note 4, “Impairment and restructuring charges” for more information related to these announcements.

Summary of significant accounti

Summary of significant accounting policies	9 Months Ended
	Sep. 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 September 30, 2024. Interim results are not necessarily indicative of results that may be expected for any other interim period or for an entire year. Liquidity and capital resources The Company has historically financed its operating and capital expenditures through existing cash and cash equivalents, cash from operations, development contracts and grant funding and borrowings under various credit agreements, including the Term Loan Agreement (as defined below) and other lines of credit it has established from time to time. In the prior quarter, in evaluating the Company’s ability to continue as a going concern, the Company took into account the potential mitigating effects of management’s previously disclosed plans, which had not yet been fully implemented. During the three months ended September 30, 2024, the Company made significant progress implementing these plans, which progress is described below. As a result, the Company believes that as of September 30, 2024 it has alleviated 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. During the three months ended September 30, 2024, the Company entered into a credit agreement which provides for a term loan (the “Term Loan”) of $250.0 million (the “Term Loan Agreement”) and a credit agreement for asset-based revolving loans (the “Revolving Credit Agreement” and together with the Term Loan Agreement, the “Senior Secured Credit Facilities”) with maturity dates that can extend through the second quarter of 2029. Also during the three months ended September 30, 2024, the Company repaid all amounts outstanding under its Amended and Restated Credit Agreement, dated October 15, 2018, by and among the Company, the lenders party thereto from time to time, and Wells Fargo Bank, National Association, as the Administrative Agent (the “Prior Credit Agreement”). As of September 30, 2024, there was $250.0 million outstanding under the Term Loan Agreement. The Revolving Credit Agreement provides for commitments with respect to asset-based revolver loans (the “Revolving Loans”) of up to the lesser of (x) $100.0 million, which may be increased (but not above $125.0 million, or the “Maximum Revolver Amount”) or decreased (but not below $50.0 million) by the Borrowers in accordance with the terms of the Revolving Credit Agreement and (y) the Borrowing Base (as defined in the Revolving Credit Agreement). Once reduced, the facility may not be increased. As of September 30, 2024, there were no outstanding Revolving Loans. For more information about the Senior Secured Credit Facilities, see Note 9, “Debt” for a discussion of the material terms and financial covenants. As of September 30, 2024, the Company was in compliance with all the covenants under the Senior Secured Credit Facilities. During the nine months ended September 30, 2024, the Company generated cash through the sale of certain assets, including the RSDL ® Transaction, which provided for a cash purchase price of approximately $75.0 million; and the Camden Transaction, which provided for a cash purchase price of approximately $35.0 million, which includes customary closing adjustments for working capital and transaction expenses of the business at closing. Additionally, the Company received funds of $50.0 million in connection with 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”). See Note 3, “Divestitures” for additional information related to RSDL ® Transaction and Camden Transaction, and Note 15, “Litigation” for additional information related to the accounting treatment and settlement of the arbitration with Janssen. Additionally, the Company is realizing positive operational impacts of its restructuring and cost savings initiatives, including the closure of certain Bioservices facilities and reductions in force. As of September 30, 2024, the Company had unrestricted cash and cash equivalents of $149.9 million and available borrowing capacity of up to $100.0 million under the Revolving Credit Agreement. The Company believes that its sources of liquidity between debt and cash flows from operating activities are adequate to fund our operations for at least the next twelve months from the issuance of these condensed consolidated financial statements. Significant accounting policies During the nine months ended September 30, 2024, apart from the updates related to the Warrants (as defined below), 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. Warrants The Company accounts for Warrants as either equity instruments or as liabilities in accordance with ASC 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815-40, Derivatives and Hedging-Contracts in Entity’s Own Equity (“ASC 815-40”), depending on the specific terms of the applicable warrant agreement. 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), contingent purchase consideration (Level 3) and value of Warrants (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. 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.

Divestitures

Divestitures	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Divestitures	Divestitures Sale of Travel Health Business 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 its 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 for CHIKV VLP, which triggered a development milestone payment receivable under the Purchase and Sale Agreement to the Company in the amount of $10.0 million. On August 13, 2024, Bavarian Nordic announced that the FDA has accepted and granted Priority Review for the Biologics License Application for CHIKV VLP, which triggered a milestone payment receivable under the Purchase and Sale Agreement to the Company in the amount of $20.0 million. 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” on the Condensed Consolidated Statements of Operations for the nine months ended September 30, 2023. In connection with the divestiture, the Company entered into a Transition Services Agreement (the “Bavarian Nordic TSA”) with Bavarian Nordic to help support its ongoing operations. Under the Bavarian Nordic TSA, the Company provided 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 Bavarian Nordic TSA was recorded within “Other, net” on the Condensed Consolidated Statements of Operations. While the services under the Bavarian Nordic TSA were substantially completed in the third quarter of 2024, certain services continue to be provided. There was no Bavarian Nordic TSA services income for the three months ended September 30, 2024. The Bavarian Nordic TSA services income was $0.5 million for the nine months ended September 30, 2024, and $1.2 million and $2.2 million for the three and nine months ended September 30, 2023, respectively. Sale of RSDL ® On July 31, 2024, the Company, through its wholly owned subsidiary Emergent BioSolutions Canada Inc., 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 to SERB 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 joined SERB in connection with the RSDL ® Transaction. Pursuant to the RSDL ® Transaction, SERB assumed 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. At the closing, SERB paid a cash purchase price of $75.0 million, exclusive of customary closing adjustments related to inventory. In addition, SERB will owe the Company a $5.0 million payment upon achievement of a milestone relating to sourcing of a certain component of RSDL ® decontamination lotion. In connection with the RSDL ® Transaction, the Company recognized a pre-tax gain of $60.8 million, net of transaction costs of $4.1 million, recorded within “Gain (loss) on sale of business” on the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024. The Company determined that the disposal of RSDL ® does not qualify for reporting as a discontinued operation since it does not represent a strategic shift that has or will have a major effect on the Company’s operations and financial results. The Company and SERB entered into a transition services agreement (the “SERB TSA”) to ensure the orderly transition of RSDL ® decontamination lotion and the related assets to SERB, and a supply agreement (the “SERB Supply Agreement”) pursuant to which they have a suite reservation at the Company’s Winnipeg facility where the Company will perform Bioservices activities to manufacture and supply bulk lotion to SERB. The Company and SERB also entered into a reverse supply agreement (together with the SERB TSA and the SERB Supply Agreement, the “SERB Agreements”) pursuant to which SERB will supply to the Company finished RSDL ® for the purposes of the Company’s performance of certain transitional distribution services under customer contracts that have not yet transferred to SERB. Under the SERB Agreements, the Company will retain a portion of net sales received upon delivery of RSDL ® to the delayed transfer customers. The Company accounted for this transaction as a multi-element arrangement and separated the discrete deliverables into different units of account. While there are multiple agreements, the Company determined that the agreements were agreed upon with a single commercial objective and accounted for all of the agreements on a combined basis. The discrete deliverables identified were the sale of the RSDL Transaction disposal group, the obligations under the supply agreement for the suite reservation at Winnipeg and the manufacture and supply of bulk lotion, and the transition services agreement and reverse supply agreement services. All of the deliverables within the agreements were priced at market and according to their relative standalone selling prices. Sale of Baltimore-Camden Facility On August 20, 2024, pursuant to the Asset Purchase Agreement, the Company completed the sale of its Drug Product facility in Baltimore-Camden to an affiliate of Bora. The Baltimore-Camden facility, which was 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 Emergent employees joined Bora as part of the transaction. At closing, Bora paid a cash purchase price of approximately $35.0 million, which includes customary closing adjustments for working capital and transaction expenses of the business at closing. As a result of the divestiture, the Company recognized a pre-tax loss of $36.5 million, net of transaction costs of $3.8 million, during the nine months ended September 30, 2024 recorded within “Gain (loss) on sale of business” on the Condensed Consolidated Statements of Operations. During the three months ended September 30, 2024, the Company recognized $3.5 million of income, which reduced the loss previously recognized in the three months ended June 30, 2024 when the Company classified the Baltimore-Camden facility as held for sale. The reduction to the previously recognized loss represented a working capital adjustment, payable to the Company. The Company determined that the disposal of the Camden Site does not qualify for reporting as a discontinued operation since it does not represent a strategic shift that has or will have a major effect on the Company’s operations and financial results. In connection with the divestiture, the Company entered into a Transition Services Agreement (the “Bora TSA”) with Bora to help support its ongoing operations. Under the Bora TSA, the Company is providing certain transition services to Bora, including information technology, finance and enterprise resource planning, human resources, employee benefits and other limited services. Income from performing services under the Bora TSA is recorded within “Other, net” on the Condensed Consolidated Statements of Operations and was $0.1 million for the three and nine months ended September 30, 2024.

Impairment and restructuring ch

Impairment and restructuring charges	9 Months Ended
	Sep. 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 second quarter of 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 second quarter of 2023. The table below presents the total impairment charge by asset class for the nine months ended September 30, 2024 and 2023: Nine Months Ended September 30, 2024 Nine Months Ended September 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 led to a reduction of the Company’s workforce by approximately 300 employees across all areas of the Company and the elimination of approximately 85 positions that were 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 were 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 $20.0 million. All activities related to the May 2024 Plan were substantially completed during 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. August 2024 Organizational Restructuring Plan In August 2024, the Company initiated the August 2024 Plan at the Company’s Lansing facility, which reduced the Company’s workforce by approximately 70 employees, as well as eliminated several open positions. The Company also implemented non-labor optimization efforts, such as reducing the Company’s external and vendor spend. The cumulative amount of restructuring charges related to the August 2024 Plan since inception is $3.5 million. All activities related to the August 2024 Plan are expected to be substantially completed during the fourth 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, May 2024 Plan and August 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Commercial Products $ — $ — $ — $ — MCM Products 4.9 5.0 7.5 7.0 Services 0.1 8.1 0.3 8.1 Total restructuring costs by segment 5.0 13.1 7.8 15.1 SG&A 0.7 6.3 9.2 11.4 R&D 0.6 0.9 5.9 3.4 Total restructuring costs $ 6.3 $ 20.3 $ 22.9 $ 29.9 The following table presents the total restructuring costs related to the January 2023 Plan, August 2023 Plan, May 2024 Plan and August 2024 Plan by function: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Employee transition $ 0.1 $ 0.3 $ 0.3 $ 0.6 Severance payments 5.0 17.9 19.3 26.6 Employee benefits 1.2 2.1 3.3 2.7 Total restructuring costs $ 6.3 $ 20.3 $ 22.9 $ 29.9 The following tables provide the components of and changes in the Company’s restructuring accrual for the January 2023 Plan during the three and nine months ended September 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 $ — $ — $ — $ — Accruals — — — — Cash payments — — — — Balance at September 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 Accruals — — (0.2) (0.2) Cash payments — (1.1) — (1.1) Balance at September 30, 2023 $ 0.1 $ 2.1 $ 0.1 $ 2.3 The following tables provide the components of and changes in the Company’s restructuring accrual for the August 2023 Plan during the three and nine months ended September 30, 2024 and 2023: 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 Accruals — — — — Cash payments — (0.3) — (0.3) Balance at September 30, 2024 $ — $ 0.3 $ — $ 0.3 Employee Transition Severance Payments Employee Benefits Total Balance at June 30, 2023 $ — $ — $ — $ — Accruals 0.3 17.9 2.3 20.5 Cash payments (0.2) (1.7) (1.9) Balance at September 30, 2023 $ 0.1 $ 16.2 $ 2.3 $ 18.6 The following table provides the components of and changes in the Company’s restructuring accrual for the May 2024 Plan during the three and nine months ended September 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 Accruals — 2.3 0.5 2.8 Cash payments — (6.3) (0.7) (7.0) Balance at September 30, 2024 $ — $ 10.8 $ 2.0 $ 12.8 The following table provides the components of and changes in the Company’s restructuring accrual for the August 2024 Plan during the three and nine months ended September 30, 2024: Employee Transition Severance Payments Employee Benefits Total Balance at June 30, 2024 $ — $ — $ — $ — Accruals 0.1 2.7 0.7 3.5 Cash payments (0.1) — — (0.1) Balance at September 30, 2024 $ — $ 2.7 $ 0.7 $ 3.4

Inventories, net

Inventories, net	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories, net	Inventories, net Inventories, net consisted of the following: September 30, 2024 December 31, 2023 Raw materials and supplies $ 86.7 $ 128.7 Work-in-process 113.7 113.3 Finished goods 122.3 86.9 Total inventories, net $ 322.7 $ 328.9 Inventories, net is stated at the lower of cost or net realizable value .

Property, plant and equipment,

Property, plant and equipment, net	9 Months Ended
	Sep. 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: September 30, 2024 December 31, 2023 Land and improvements $ 25.8 $ 30.0 Buildings, building improvements and leasehold improvements 195.3 229.9 Furniture and equipment 372.6 433.6 Software 66.8 64.0 Construction-in-progress 11.4 36.7 Property, plant and equipment, gross $ 671.9 $ 794.2 Less: Accumulated depreciation and amortization (393.8) (411.4) Total property, plant and equipment, net $ 278.1 $ 382.8 As of September 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	9 Months Ended
	Sep. 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 September 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 $ 337.6 $ 517.8 $ 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 $ 371.7 $ 517.8 $ 889.5 $ 322.9 $ 566.6 Amortization expense associated with the Company’s finite-lived intangible assets was recorded as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Amortization of intangible assets $ 16.3 $ 16.3 $ 48.8 $ 49.4 The Company had no remaining goodwill balance on the Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 due to impairment charges recorded during the third quarter of 2023.

Fair value measurements

Fair value measurements	9 Months Ended
	Sep. 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: September 30, 2024 December 31, 2023 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Money market accounts $ 75.4 $ 75.4 $ — $ — $ 40.5 $ 40.5 $ — $ — Total $ 75.4 $ 75.4 $ — $ — $ 40.5 $ 40.5 $ — $ — Liabilities: Contingent consideration $ — $ — $ — $ — $ 5.6 $ — $ — $ 5.6 Warrant liability 13.9 — — 13.9 — — — — Total $ 13.9 $ — $ — $ 13.9 $ 5.6 $ — $ — $ 5.6 2024 Warrant liability In connection with the Term Loan Agreement, the Company issued to the lenders warrants to purchase 1.0 million shares of the Company’s common stock at an exercise price of $9.8802 per share (the “Series I Warrants”) and warrants to purchase 1.5 million shares at an exercise price of $15.7185 per share (the “Series II Warrants” and, together with the Series I Warrants, the “Warrants”). The Warrants are currently exercisable and will expire on August 30, 2029. Because the Warrants could be cash settled based on events that are outside the control of the Company, it precludes the Warrants from applying the equity contract scope exception, and so are classified as a liability. As a result, the fair value of the Warrants will be remeasured each period with the gain or loss on the warrant liability included in “Other, net” on the Condensed Consolidated Statement of Operations. The fair value of the liability at issuance was $13.4 million and remeasured to $13.9 million and is included within “Other Liabilities” on the Condensed Consolidated Balance Sheet as of September 30, 2024, as determined using the Black-Scholes method. The Company uses the Black-Scholes option pricing model to calculate the fair value of the Warrants at each reporting period. Assumptions used in the Black-Scholes option pricing model take into account the agreement terms as well as the quoted price of the Company’s common stock in an active market. The volatility is based on the average historical volatility of the common stock. The expected life is based on the remaining contractual term of the Warrants, and the risk free interest rate is based on the implied yield available on U.S. Treasury securities with a maturity equivalent to the Warrants’ expected life. The table below is a reconciliation of the beginning and ending balance of the Company’s Level 3 warrant liability: Warrant Liability Balance at June 30, 2024 $ — Issuance of Warrants 13.4 Change in fair value 0.5 Balance at September 30, 2024 $ 13.9 The recurring Level 3 fair value measurement for the Company's warrant liability used the following significant unobservable inputs: Warrant Liability Valuation Technique Unobservable Input Range 2024 Warrants Black-Scholes Method Term (in years) 4.9 Risk free interest rate 3.5% Volatility 95% 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 Change in fair value — Settlements (0.4) Sales (1) (3.9) Balance at September 30, 2024 $ — (1) On July 31, 2024, the Company sold the worldwide rights to RSDL ® to SERB. In connection with the RSDL ® Transaction, the Company conveyed the contingent consideration liability related to RSDL ® to SERB. See Note 3, “Divestitures” for more information regarding the RSDL ® Transaction. 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 Change in fair value (1.1) Settlements (0.9) Balance at September 30, 2023 $ 5.4 As of September 30, 2024, there was no liability related to contingent consideration. As of December 31, 2023, the current portion of the contingent consideration liability was $2.7 million and was included in “Other current liabilities” on the Condensed Consolidated Balance Sheets. The non-current portion of the contingent consideration liability was included in “Other liabilities” on the Condensed Consolidated Balance Sheets. Non-variable rate debt As of September 30, 2024 and December 31, 2023, t he fair value of the Company’s 3.875% Senior Unsecured Notes due 2028 (the “Senior Unsecured Notes”) was $343.1 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 9, “Debt”).

Debt

Debt	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt The table below presents the components of the Company’s debt: September 30, 2024 December 31, 2023 Senior secured credit agreement - Term loan due 2029 $ 250.0 $ — 3.875% Senior Unsecured Notes due 2028 450.0 450.0 Senior secured credit agreement - Term loan due 2025 — 198.2 Senior secured credit agreement - Revolver loan due 2025 — 219.2 Other 0.8 1.0 Total debt $ 700.8 $ 868.4 Current portion of long-term debt, net of debt issuance costs (0.8) (413.7) Unamortized debt issuance costs (38.2) (8.2) Non-current portion of debt, net of debt issuance costs $ 661.8 $ 446.5 There were $35.0 million of unamortized debt issuance costs recorded in connection with the execution of the Term Loan Agreement within a contra account to directly offset the Term Loan balance. Debt issuance costs associated with the Company’s Revolving Loans, as described in further detail below, were recorded as an asset within “Other long-term assets” on the Company’s Condensed Consolidated Balance Sheets. As of September 30, 2024, the Company has $4.2 million in debt issuance costs associated with the Revolving Loans. If the Company draws on the capacity available under the Revolving Loans, the debt issuance costs would be reclassified to a contra account to directly offset the Revolving Loans balance. During the year ended December 31, 2023, the Company reclassified the debt issuance costs associated with the Company’s revolver loan due 2025 under the Prior Credit Agreement to a contra account to directly offset the loan balance in "Debt, current portion" on the Company's Condensed Consolidated Balance Sheets. As of December 31, 2023, the Company had $5.3 million of debt issuance costs associated with the revolver loan due 2025. During the nine months ended September 30, 2024, the Company entered into a bilateral agreement with a bank in the amount of $5.5 million that is fully collateralized by cash, which is classified within “Restricted cash” in the Company’s Condensed Consolidated Balance Sheet as of September 30, 2024. The Company recorded a gain on extinguishments of debt of $0.3 million and $0.6 million during the three and nine months ended September 30, 2024, respectively in “Other, net” on the Condensed Consolidated Statements of Operations related to the Prior Credit Agreement and other loan forgiveness. 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 15 and August 15 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. Term Loan Agreement On August 30, 2024, the Company entered into the Term Loan Agreement with the lenders from time to time party thereto and OHA Agency LLC, as administrative agent. The Term Loan Agreement provides for a Term Loan of $250.0 million, which was drawn in full on the date of entry into the Term Loan Agreement (the “Closing Date”). The Term Loan was issued with an original issue discount of 3.00%. The Term Loan will accrue interest at the Company’s option at (i) the Base Rate (as defined in the Term Loan Agreement) (subject to a floor of 1.00%) plus 7.25% per annum, referred to as “Term Base Rate Loans” or (ii) Adjusted Term SOFR (as defined in the Term Loan Agreement) (subject to a floor of 2.00% until the second anniversary of the Closing Date, and thereafter, 3.00%) plus 8.25% per annum, referred to as “Term SOFR Loans”). A default interest rate of an additional 2.00% per annum would apply on all outstanding obligations that are not paid when due. If any defaulted obligations are Term SOFR Loans, then such loans would, at the end of the applicable interest period, automatically be converted to Term Base Rate Loans that would continue to be subject to the default interest rate. The Term Loan will mature on the first to occur (such date, the “Term Loan Maturity Date”) of (i) August 30, 2029, (ii) the date of acceleration of the Term Loan upon the occurrence and during the continuance of an event of default and (iii) solely to the extent the aggregate principal amount of Senior Unsecured Notes outstanding exceeds $25.0 million, May 15, 2028, which is three months prior to the August 15, 2028 maturity date of the Senior Unsecured Notes. The Term Loan Agreement contains certain customary default and cross-default provisions, representations and warranties and affirmative and negative covenants, including (a) restrictions on prepayments and repurchases of indebtedness, including the Senior Unsecured Notes, subject to further customary permitted debt payments (b) a minimum liquidity requirement of $75.0 million commencing on September 30, 2024 and tested every two weeks, and (c) a consolidated gross leverage ratio tested every fiscal quarter commencing with the fiscal quarter ending December 31, 2025, initially at 5.10:1.00 with step-downs as set forth in the Term Loan Agreement. As of September 30, 2024, the Company was in compliance with all covenants under the Term Loan Agreement. All indebtedness outstanding under the Term Loan Agreement is guaranteed by certain of the Company’s direct and indirect subsidiaries, other than certain subsidiaries that are not material, are excluded pursuant to the terms of the Term Loan Agreement, or will become guarantors on a post-closing basis (the Company and the guarantors, collectively, the Credit Parties”). The indebtedness under the Term Loan Agreement is secured by a first-priority security interest in and lien on substantially all assets of the Company and the other Credit Parties. The Company may elect to prepay the Term Loan, in whole or in part, subject to (i) through and including the first anniversary of the Closing Date, a make-whole premium plus 4.00% of the aggregate principal amount of the Term Loan subject to prepayment and (ii) after the first anniversary of the Closing Date, a 4.00% prepayment premium, which percentage shall be reduced by 0.25% as set forth on a schedule attached to the Term Loan Agreement. The Term Loan Agreement requires mandatory prepayments of the Term Loan in an amount equal to (a) 100% of the aggregate net cash proceeds from the incurrence of certain indebtedness by the Term Loan Credit Parties and (b) (subject to certain reinvestment rights) 100% of the aggregate net cash proceeds from (1) subject to certain specified exceptions, dispositions of property by the Credit Parties (provided that with respect to any dispositions occurring on or after the Closing Date, prepayment will not be required unless the net cash proceeds exceed $10.0 million in the aggregate per fiscal year or $5.0 million on a per-transaction basis) and (2) insurance proceeds received by any Credit Party or their subsidiaries resulting from theft, loss, physical destruction or damage of property. On the Closing Date, the Company used a portion of the proceeds of the Term Loan to repay all amounts outstanding and terminate commitments under the senior term loan facility under the Prior Credit Agreement, plus accrued interest and fees. The Company previously repaid all amounts outstanding under the revolving credit facility under the Prior Credit Agreement. Revolving Loan Agreement On September 30, 2024, the Company entered into the Revolving Credit Agreement with certain subsidiary borrowers (together with the Company, the “Borrowers”), the lenders from time to time party thereto, and Wells Fargo Bank, National Association, as agent (the “Agent”). The Credit Agreement provides for commitments with respect to Revolving Loans of up to the lesser of (x) $100.0 million, which may be increased (but not above $125.0 million, or the “Maximum Revolver Amount”) or decreased (but not below $50.0 million) by the Borrowers in accordance with the terms of the Revolving Credit Agreement and (y) the Borrowing Base (as defined in the Revolving Credit Agreement). Once reduced, the facility may not be increased. Up to $5.0 million of capacity under the Revolving Loans may be used for swing loans and up to $10.0 million may be used for the issuance of letters of credit. The Revolving Loans will accrue interest at the Base Rate (as defined in the Revolving Credit Agreement) plus a margin of 1.25% (such loans, “Revolving Base Rate Loans”) or, at the Company’s election, at a rate equal to Adjusted Term SOFR (as defined in the Revolving Credit Agreement and subject to a floor of 0.00%) plus a margin of 2.25% (such loans, “Revolving SOFR Loans”), in each case until September 30, 2025. After September 30, 2025, the applicable margin may be reduced to 0.75% in the case of Revolving Base Rate Loans, or 1.75% in the case of Revolving SOFR Loans, provided the Borrowers’ total leverage ratio is less than 4.00 to 1.00 for the most recently completed fiscal quarter and an event of default is not continuing. A default interest rate of an additional 2.00% per annum would apply on all outstanding obligations that are not paid when due. The Revolving Loans will mature on the first to occur of (i) September 30, 2029; (ii) to the extent there remain outstanding any portion of the term loans extended under the Term Loan Agreement, the date that is 90 days prior to the maturity date under the Term Loan Agreement; and (iii) to the extent any of the Senior Unsecured Notes remain outstanding, May 17, 2028, which is 90 days prior to the August 15, 2028 maturity date of the Senior Unsecured Notes. The Revolving Credit Agreement contains certain customary default and cross-default provisions (including with respect to defaults under the Term Loan Agreement), representations and warranties and affirmative and negative covenants, including (a) restrictions on prepayments and repurchases of indebtedness, including the Senior Unsecured Notes, (b) restrictions on dispositions of material intellectual property, (c) a minimum liquidity requirement of $50.0 million through the day prior to the first date following September 30, 2025 on which the Company’s total leverage ratio measured as of the preceding 12-month period is less than 5.25 to 1.00 (the “Covenant Conversion Date”) and (d) from the Covenant Conversion Date, a fixed charge coverage ratio requirement of at least 1.00 to 1.00. As of September 30, 2024, the Company was in compliance with all covenants under the Revolving Credit Agreement. All indebtedness outstanding under the Revolving Credit Agreement is guaranteed by certain of the Borrowers’ material direct and indirect subsidiaries, subject to customary exclusions. The indebtedness under the Credit Agreement is secured by a first-priority security interest in and lien on the ABL Priority Collateral and a second-priority security interest and lien on the Term Loan Priority Collateral (in each case as defined in the Revolving Credit Agreement). The Borrowers may elect to prepay any Revolving Loans, in whole or in part, without premium or penalty. If at any time outstanding Revolving Loans and letters of credit exceed the lesser of (i) the Borrowing Base, as adjusted for reserves established by the Agent, and (ii) the Maximum Revolver Amount, the Borrowers will be required to prepay outstanding obligations in the amount of such excess. The Agent may establish, increase or decrease reserves at its discretion.

Share-based compensation and st

Share-based compensation and stockholders' equity	9 Months Ended
	Sep. 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 nine months ended September 30, 2024, the Company granted stock options to purchase 4.1 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 nine months ended September 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 nine months ended September 30, 2024, 1.0 million stock options, 0.4 million restricted stock units, and 0.1 million performance stock units were forfeited prior to the completion of the applicable vesting requirements or expiration. Share-based compensation expense, net of forfeitures was recorded in the following financial statement line items: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Cost of Commercial Product sales $ — $ — $ — $ 0.1 Cost of MCM Product sales 0.3 1.0 1.6 3.5 Cost of Bioservices (0.1) 0.2 0.2 0.8 R&D — 0.6 1.0 1.7 Selling, general and administrative 2.1 2.2 10.9 13.0 Total share-based compensation expense $ 2.3 $ 4.0 $ 13.7 $ 19.1 Stockholders’ equity 2024 Issuance of Common Stock In connection with the Term Loan Agreement, the Company entered into a Subscription Agreement, dated as of August 30, 2024 (the “Subscription Agreement”) with the lenders under the Term Loan Agreement, under which on September 17, 2024, the Company issued to the lenders 1.1 million shares of common stock with an aggregate value of $10.0 million, at a price per share of $8.98, which was based on the volume weighted average price per share of common stock for the 30 consecutive trading days ending on, but excluding, the tenth business day of the Term Loan Agreement. At inception, the Subscription Agreement represented a forward sale of the Company’s common stock (the “Forward”). Because the number of shares issued under the Forward was based on a fixed monetary value known at inception, which would be settled by issuing a variable number of shares, the Forward was classified and recorded as a liability at inception. Because it was liability classified, the Forward was required to be remeasured to fair value at settlement on September 17, 2024, and the Company recognized a gain of $1.6 million recorded within “Other, net” on the Condensed Consolidated Statement of Operations for the three and nine months ended September 30, 2024. The gain was driven by the decline in stock price between the execution date of the Subscription Agreement and the date the shares were issued. There was no remaining liability related to the Forward on the Condensed Consolidated Balance Sheet as of September 30, 2024. 2024 Warrant Issuance In connection with the Term Loan Agreement, the Company issued to the lenders Series I Warrants to purchase 1.0 million shares of common stock and Series II Warrants to purchase 1.5 million shares of common stock. The Warrants are currently exercisable and will expire on August 30, 2029. Because the Warrants could be cash settled based on events that are outside the control of the Company, it precludes the Warrants from applying the equity contract scope exception, and so are classified as a liability. As of September 30, 2024, the fair value of the Warrants was $13.9 million. See Note 8, “Fair value measurements,” for more information on the accounting treatment and valuation of the Warrants. As of September 30, 2024, the Company had the following Warrants outstanding to acquire shares of its common stock: Warrants Outstanding Range of Exercise Expiration Date Warrants issued related to the Term Loan Agreement 2.5 $9.88 - $15.72 August 2029 Total 2.5 During the three months ended September 30, 2024, no Warrants expired or were exercised. At-the-Market Equity Offering Facility In May 2023, the Company established an “at-the-market” equity offering program (the “ATM Program”) pursuant to which 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. There were no sales of the Company’s common stock under the ATM Program during the three months ended September 30, 2024. 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. Therefore, the Company will not be eligible to sell any shares under the ATM Program until a new Registration Statement on Form S-3 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 September 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. 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) Other comprehensive income (loss) before reclassifications — — (1.8) (1.8) Net current period other comprehensive loss — — (1.8) (1.8) Balance at September 30, 2024 $ — $ — $ (7.3) $ (7.3) 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) Other comprehensive income (loss) before reclassifications — 0.9 1.2 2.1 Amounts reclassified from accumulated other comprehensive income (loss) — (3.1) — (3.1) Net current period other comprehensive income (loss) — (2.2) 1.2 (1.0) Balance at September 30, 2023 $ — $ 0.3 $ (2.9) $ (2.6) The tables below present the tax effects related to each component of other comprehensive income (loss): Three Months Ended September 30, 2024 2023 Pretax Tax Expense Net of tax Pretax Tax Expense Net of tax Derivative instruments $ — $ — $ — $ (3.1) $ 0.9 $ (2.2) Foreign currency translation adjustments (1.8) — (1.8) 0.9 0.3 1.2 Total adjustments $ (1.8) $ — $ (1.8) $ (2.2) $ 1.2 $ (1.0) Nine Months Ended September 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 — — — (8.0) 2.1 (5.9) Foreign currency translation adjustments (1.6) — (1.6) 2.9 0.8 3.7 Total adjustments $ (1.6) $ — $ (1.6) $ (9.2) $ 3.5 $ (5.7)

Earnings (loss) per common shar

Earnings (loss) per common share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings (loss) per common share	Earnings (loss) per common share Basic earnings (loss) per common share is calculated using the treasury method by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted earnings (loss) per common share adjusts basic earnings (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, as well as shares issuable upon exercises of the Warrants. Diluted earnings (loss) per share excludes anti-dilutive securities, which represent the number of potential common shares related to shares issuable under our equity compensation plan and pursuant to exercises of the Warrants that were excluded from diluted earnings (loss) per common share because their effect would have been antidilutive. The following table presents the calculation of basic and diluted earnings (loss) per common share: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Numerator: Net income (loss) $ 114.8 $ (263.4) $ (159.3) $ (711.0) Denominator: Weighted-average number of shares outstanding-basic 53.1 51.8 52.6 50.9 Dilutive securities - equity awards 2.5 — — — Weighted-average number of shares outstanding-diluted 55.6 51.8 52.6 50.9 Earnings (loss) per common share - basic $ 2.16 $ (5.08) $ (3.03) $ (13.97) Earnings (loss) per common share - diluted $ 2.06 $ (5.08) $ (3.03) $ (13.97) Anti-dilutive securities 2.6 4.0 4.4 3.6

Revenue recognition

Revenue recognition	9 Months Ended
	Sep. 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 nine months ended September 30, 2024 and 2023 were as follows: Three Months Ended September 30, 2024 Three Months Ended September 30, 2023 USG Non-USG Total USG Non-USG Total Commercial Product sales $ — $ 95.3 $ 95.3 $ 0.3 $ 141.8 $ 142.1 MCM Product sales 161.8 12.4 174.2 102.7 5.0 107.7 Bioservices: Services — 13.9 13.9 — 13.2 13.2 Leases — 0.4 0.4 — 1.0 1.0 Total Bioservices $ — $ 14.3 $ 14.3 $ — $ 14.2 $ 14.2 Contracts and grants 9.7 0.3 10.0 5.1 1.4 6.5 Total revenues $ 171.5 $ 122.3 $ 293.8 $ 108.1 $ 162.4 $ 270.5 Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023 USG Non-USG Total USG Non-USG Total Commercial Product sales $ 0.4 $ 333.4 $ 333.8 $ 0.6 $ 385.6 $ 386.2 MCM Product sales 319.7 73.3 393.0 279.0 30.2 309.2 Bioservices: Services (1) — 96.7 96.7 — 52.2 52.2 Leases — 0.8 0.8 — 5.5 5.5 Total Bioservices $ — $ 97.5 $ 97.5 $ — $ 57.7 $ 57.7 Contracts and grants 23.7 0.9 24.6 14.6 5.0 19.6 Total revenues $ 343.8 $ 505.1 $ 848.9 $ 294.2 $ 478.5 $ 772.7 (1) Bioservices Services revenues for the nine months ended September 30, 2024 include $50.0 million attributable to the Settlement Agreement with Janssen related to the 2022 termination of the Janssen Agreement. The revenue is related to raw materials purchased for the Janssen Agreement which Janssen had not reimbursed. See Note 15, “Litigation” for additional information related to the accounting treatment and settlement of the arbitration with Janssen. 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 2.1 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 nine months ended September 30, 2024, the Company's non-USG lease revenues were $0.4 million and $0.8 million, respectively, which is included within Bioservices “Leases” on the Condensed Consolidated Statement of Operations. The Company estimates future operating lease revenues to be $0.6 million in the remainder of 2024, $2.2 million in 2025, $1.7 million in 2026, $0.9 million in 2027, $0.9 million in 2028 and no lease revenue thereafter. Transaction price allocated to remaining performance obligations As of September 30, 2024, the Company has future contract value on unsatisfied performance obligations of approximately $322.4 million associated with all arrangements entered into by the Company. The Company expects to recognize $281.6 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 September 30, 2024 and December 31, 2023, the Company had $7.0 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 September 30, 2024 $ 10.7 Revenue recognized in the period from amounts included in contract liability at the beginning of the period: $ 25.8 As of September 30, 2024 and December 31, 2023, the current portion of contract liabilities was $7.3 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: September 30, 2024 December 31, 2023 Accounts receivable: Billed $ 102.6 $ 141.8 Unbilled 19.2 51.4 Allowance for expected credit losses (0.5) (2.2) Accounts receivable, net $ 121.3 $ 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	9 Months Ended
	Sep. 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 12, “Revenue recognition.” The components of lease expense were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Operating lease cost: Amortization of right-of-use assets $ 0.7 $ 1.1 $ 2.5 $ 3.1 Interest on lease liabilities 0.2 0.2 0.6 0.6 Total operating lease cost $ 0.9 $ 1.3 $ 3.1 $ 3.7 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 September 30, 2024 December 31, 2023 Operating lease right-of-use assets Other assets $ 12.4 $ 16.2 Operating lease liabilities, current portion Other current liabilities $ 2.7 $ 3.5 Operating lease liabilities Other liabilities 10.7 13.8 Total operating lease liabilities $ 13.4 $ 17.3 Operating leases: Weighted average remaining lease term (years) 6.0 6.2 Weighted average discount rate 5.5 % 5.3 %

Income taxes

Income taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The estimated effective annual tax rate as of September 30, 2024 and 2023 for the years ended December 31, 2024 and 2023, excluding the impact of discrete adjustments, was 20% and (5)%, respectively. The effective tax rate for the nine months ended September 30, 2024 and 2023 was (38)% and (5)%, 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 recorded a discrete tax expense of $0.4 million and $0.4 million for the three and nine months ended September 30, 2024, respectively, and $1.0 million and $1.0 million for the three and nine months ended September 30, 2023, respectively. The discrete tax expense in 2024 and 2023 was due to return-to-provision adjustments and share-based compensation activity, which was entirely offset by a valuation allowance charge. 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.

Litigation

Litigation	9 Months Ended
	Sep. 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. On September 12, 2024, the Company and the lead plaintiffs entered into an agreement in principle to settle the claims against the Company and each of the Company’s current and former officers and directors. On October 4, 2024, the Court granted preliminary approval of the proposed settlement, ordered notice to the settlement class and scheduled a fairness hearing for February 27, 2025 to consider whether to grant final approval of the settlement. Under the proposed settlement, the claims against the Company and its officers and directors will be dismissed with prejudice and released in exchange for a payment from the Company of $40.0 million, of which $30.0 million will be paid from insurance proceeds. The Company considers the proposed settlement payment to be probable and reasonably estimable and the insurance proceeds to be committed, therefore, recorded the settlement and insurance recoverable amounts as pre-tax operating expense and income, respectively, recorded within “Selling, general and administrative” on the Condensed Consolidated Statement of Operations for the three and nine months ended September 30, 2024. The related liability was recorded within “Other current liabilities” and the insurance receivable was recorded within “Prepaid expenses and other current assets” on the Condensed Consolidated Balance Sheet as of September 30, 2024. 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. Beginning in the fourth quarter of 2022, because the arbitration process with Janssen was expected to extend longer than one year, the Company reclassified amounts related to the Janssen Agreement from “Inventories, net” and from “Prepaid expenses and other current assets” to “Other assets”, resulting in $152.7 million in long-term assets related to the Janssen Agreement on the Condensed Consolidated Balance Sheet as of December 31, 2022. The long-term asset balance within “Other Assets” prior to announcing the Settlement Agreement was $158.7 million. The Company recorded $50.0 million in “Services revenue” and “Cost of Services” on the Condensed Consolidated Statement of Operations during the nine months ended September 30, 2024 to reflect the settlement receivable as a change in the transaction price for the Janssen Agreement. Additionally, the Company recorded $110.2 million for the nine months ended September 30, 2024 within “Cost of Services” on the Condensed Consolidated Statement of Operations to write down the remaining inventory to its net realizable value and for estimated disposal costs. The receivable for the settlement amount was collected during the third quarter of 2024 and there was no long-term asset balance remaining within “Other Assets” related to the Janssen Agreement as of September 30, 2024.

Segment information

Segment information	9 Months Ended
	Sep. 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 3, “Divestitures” 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, changes in fair value of financial instruments, settlement charges, net 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, settlement charge, net, changes in fair value of financial instruments and inventory step-up provision. The Company does not allocate research and development expenses, 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 nine months ended September 30, 2024 and 2023: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues: Commercial Products $ 95.3 $ 142.1 $ 333.8 $ 386.2 MCM Products 174.2 107.7 393.0 309.2 Services 14.3 14.2 97.5 57.7 Segment revenues 283.8 264.0 824.3 753.1 Contracts and grants revenue 10.0 6.5 24.6 19.6 Total revenues $ 293.8 $ 270.5 $ 848.9 $ 772.7 Cost of sales or services: Cost of Commercial Product sales $ 47.2 $ 60.0 $ 152.7 160.2 Cost of MCM Product sales 54.0 72.5 147.3 208.4 Cost of Services 21.4 44.3 263.3 151.7 Total cost of sales or services $ 122.6 $ 176.8 $ 563.3 $ 520.3 Gross margin Commercial Products $ 48.1 $ 82.1 $ 181.1 $ 226.0 MCM Products 120.2 35.2 245.7 100.8 Services (7.1) (30.1) (165.8) (94.0) Total segment gross margin (1) $ 161.2 $ 87.2 $ 261.0 $ 232.8 Gross margin % Commercial Products 50 % 58 % 54 % 59 % MCM Products 69 % 33 % 63 % 33 % Services (50) % (212) % (170) % (163) % Total Segment 57 % 33 % 32 % 31 % Segment adjusted gross margin Commercial Products $ 48.1 $ 82.1 $ 181.1 $ 226.0 MCM Products 126.3 39.1 255.0 109.3 Services (7.0) (22.0) (55.3) (85.9) Total segment adjusted gross margin $ 167.4 $ 99.2 $ 380.8 $ 249.4 (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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Total segment adjusted gross margin $ 167.4 $ 99.2 $ 380.8 $ 249.4 Reconciling items: Contracts and grants revenue $ 10.0 $ 6.5 $ 24.6 $ 19.6 Segment restructuring costs (5.0) (13.1) (7.8) (15.1) Segment inventory step-up provision (1.2) — (1.2) (1.9) Segment changes in fair value of financial instruments — 1.1 (0.6) 0.4 Segment settlement charge, net — — (110.2) — Goodwill impairment — (218.2) — (218.2) Impairment of long-lived assets — — (27.2) (306.7) Research and development (13.8) (15.3) (61.6) (82.0) Selling, general and administrative (76.6) (86.0) (247.2) (278.7) Amortization of intangible assets (16.3) (16.3) (48.8) (49.4) Interest expense (8.3) (19.7) (56.2) (66.2) Gain (loss) on sale of business 64.3 (0.7) 24.3 74.2 Other, net 21.9 (3.4) 15.8 (2.1) Income (loss) before income taxes $ 142.4 $ (265.9) $ (115.3) $ (676.7) The following table includes depreciation expense for each segment: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Depreciation: Commercial Products $ — $ — $ — $ 0.3 MCM Products 4.7 7.4 $ 16.0 $ 22.6 Services 2.3 3.4 7.4 19.7 Other 3.1 0.9 10.6 3.5 Total $ 10.1 $ 11.7 $ 34.0 $ 46.1

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 114.8	$ (283.1)	$ 9	$ (263.4)	$ (261.4)	$ (186.2)	$ (159.3)	$ (711)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 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)	9 Months Ended
	Sep. 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 September 30, 2024. Interim results are not necessarily indicative of results that may be expected for any other interim period or for an entire year.
Warrants	Warrants The Company accounts for Warrants as either equity instruments or as liabilities in accordance with ASC 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815-40, Derivatives and Hedging-Contracts in Entity’s Own Equity (“ASC 815-40”), depending on the specific terms of the applicable warrant agreement.
Fair value measurements	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), contingent purchase consideration (Level 3) and value of Warrants (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.
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.

Impairment and restructuring _2

Impairment and restructuring charges (Tables)	9 Months Ended
	Sep. 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 nine months ended September 30, 2024 and 2023: Nine Months Ended September 30, 2024 Nine Months Ended September 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, May 2024 Plan and August 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Commercial Products $ — $ — $ — $ — MCM Products 4.9 5.0 7.5 7.0 Services 0.1 8.1 0.3 8.1 Total restructuring costs by segment 5.0 13.1 7.8 15.1 SG&A 0.7 6.3 9.2 11.4 R&D 0.6 0.9 5.9 3.4 Total restructuring costs $ 6.3 $ 20.3 $ 22.9 $ 29.9 The following table presents the total restructuring costs related to the January 2023 Plan, August 2023 Plan, May 2024 Plan and August 2024 Plan by function: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Employee transition $ 0.1 $ 0.3 $ 0.3 $ 0.6 Severance payments 5.0 17.9 19.3 26.6 Employee benefits 1.2 2.1 3.3 2.7 Total restructuring costs $ 6.3 $ 20.3 $ 22.9 $ 29.9
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 nine months ended September 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 $ — $ — $ — $ — Accruals — — — — Cash payments — — — — Balance at September 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 Accruals — — (0.2) (0.2) Cash payments — (1.1) — (1.1) Balance at September 30, 2023 $ 0.1 $ 2.1 $ 0.1 $ 2.3 The following tables provide the components of and changes in the Company’s restructuring accrual for the August 2023 Plan during the three and nine months ended September 30, 2024 and 2023: 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 Accruals — — — — Cash payments — (0.3) — (0.3) Balance at September 30, 2024 $ — $ 0.3 $ — $ 0.3 Employee Transition Severance Payments Employee Benefits Total Balance at June 30, 2023 $ — $ — $ — $ — Accruals 0.3 17.9 2.3 20.5 Cash payments (0.2) (1.7) (1.9) Balance at September 30, 2023 $ 0.1 $ 16.2 $ 2.3 $ 18.6 The following table provides the components of and changes in the Company’s restructuring accrual for the May 2024 Plan during the three and nine months ended September 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 Accruals — 2.3 0.5 2.8 Cash payments — (6.3) (0.7) (7.0) Balance at September 30, 2024 $ — $ 10.8 $ 2.0 $ 12.8 The following table provides the components of and changes in the Company’s restructuring accrual for the August 2024 Plan during the three and nine months ended September 30, 2024: Employee Transition Severance Payments Employee Benefits Total Balance at June 30, 2024 $ — $ — $ — $ — Accruals 0.1 2.7 0.7 3.5 Cash payments (0.1) — — (0.1) Balance at September 30, 2024 $ — $ 2.7 $ 0.7 $ 3.4

Inventories, net (Tables)

Inventories, net (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories, net consisted of the following: September 30, 2024 December 31, 2023 Raw materials and supplies $ 86.7 $ 128.7 Work-in-process 113.7 113.3 Finished goods 122.3 86.9 Total inventories, net $ 322.7 $ 328.9

Property, plant and equipment_2

Property, plant and equipment, net (Tables)	9 Months Ended
	Sep. 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: September 30, 2024 December 31, 2023 Land and improvements $ 25.8 $ 30.0 Buildings, building improvements and leasehold improvements 195.3 229.9 Furniture and equipment 372.6 433.6 Software 66.8 64.0 Construction-in-progress 11.4 36.7 Property, plant and equipment, gross $ 671.9 $ 794.2 Less: Accumulated depreciation and amortization (393.8) (411.4) Total property, plant and equipment, net $ 278.1 $ 382.8

Intangible assets and goodwill

Intangible assets and goodwill (Tables)	9 Months Ended
	Sep. 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 September 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 $ 337.6 $ 517.8 $ 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 $ 371.7 $ 517.8 $ 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Amortization of intangible assets $ 16.3 $ 16.3 $ 48.8 $ 49.4

Fair value measurements (Tables

Fair value measurements (Tables)	9 Months Ended
	Sep. 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: September 30, 2024 December 31, 2023 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Money market accounts $ 75.4 $ 75.4 $ — $ — $ 40.5 $ 40.5 $ — $ — Total $ 75.4 $ 75.4 $ — $ — $ 40.5 $ 40.5 $ — $ — Liabilities: Contingent consideration $ — $ — $ — $ — $ 5.6 $ — $ — $ 5.6 Warrant liability 13.9 — — 13.9 — — — — Total $ 13.9 $ — $ — $ 13.9 $ 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 warrant liability: Warrant Liability Balance at June 30, 2024 $ — Issuance of Warrants 13.4 Change in fair value 0.5 Balance at September 30, 2024 $ 13.9 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 Change in fair value — Settlements (0.4) Sales (1) (3.9) Balance at September 30, 2024 $ — (1) On July 31, 2024, the Company sold the worldwide rights to RSDL ® to SERB. In connection with the RSDL ® Transaction, the Company conveyed the contingent consideration liability related to RSDL ® to SERB. See Note 3, “Divestitures” for more information regarding the RSDL ® Transaction. 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 Change in fair value (1.1) Settlements (0.9) Balance at September 30, 2023 $ 5.4
Schedule of Fair Value Level 3 of Significant Unobservable Inputs	The recurring Level 3 fair value measurement for the Company's warrant liability used the following significant unobservable inputs: Warrant Liability Valuation Technique Unobservable Input Range 2024 Warrants Black-Scholes Method Term (in years) 4.9 Risk free interest rate 3.5% Volatility 95%

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	The table below presents the components of the Company’s debt: September 30, 2024 December 31, 2023 Senior secured credit agreement - Term loan due 2029 $ 250.0 $ — 3.875% Senior Unsecured Notes due 2028 450.0 450.0 Senior secured credit agreement - Term loan due 2025 — 198.2 Senior secured credit agreement - Revolver loan due 2025 — 219.2 Other 0.8 1.0 Total debt $ 700.8 $ 868.4 Current portion of long-term debt, net of debt issuance costs (0.8) (413.7) Unamortized debt issuance costs (38.2) (8.2) Non-current portion of debt, net of debt issuance costs $ 661.8 $ 446.5

Share-based compensation and _2

Share-based compensation and stockholders' equity (Tables)	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Cost of Commercial Product sales $ — $ — $ — $ 0.1 Cost of MCM Product sales 0.3 1.0 1.6 3.5 Cost of Bioservices (0.1) 0.2 0.2 0.8 R&D — 0.6 1.0 1.7 Selling, general and administrative 2.1 2.2 10.9 13.0 Total share-based compensation expense $ 2.3 $ 4.0 $ 13.7 $ 19.1
Schedule of Stockholders' Equity Note, Warrants or Rights	As of September 30, 2024, the Company had the following Warrants outstanding to acquire shares of its common stock: Warrants Outstanding Range of Exercise Expiration Date Warrants issued related to the Term Loan Agreement 2.5 $9.88 - $15.72 August 2029 Total 2.5
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) Other comprehensive income (loss) before reclassifications — — (1.8) (1.8) Net current period other comprehensive loss — — (1.8) (1.8) Balance at September 30, 2024 $ — $ — $ (7.3) $ (7.3) 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) Other comprehensive income (loss) before reclassifications — 0.9 1.2 2.1 Amounts reclassified from accumulated other comprehensive income (loss) — (3.1) — (3.1) Net current period other comprehensive income (loss) — (2.2) 1.2 (1.0) Balance at September 30, 2023 $ — $ 0.3 $ (2.9) $ (2.6)
Schedule of Comprehensive Income (Loss)	The tables below present the tax effects related to each component of other comprehensive income (loss): Three Months Ended September 30, 2024 2023 Pretax Tax Expense Net of tax Pretax Tax Expense Net of tax Derivative instruments $ — $ — $ — $ (3.1) $ 0.9 $ (2.2) Foreign currency translation adjustments (1.8) — (1.8) 0.9 0.3 1.2 Total adjustments $ (1.8) $ — $ (1.8) $ (2.2) $ 1.2 $ (1.0) Nine Months Ended September 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 — — — (8.0) 2.1 (5.9) Foreign currency translation adjustments (1.6) — (1.6) 2.9 0.8 3.7 Total adjustments $ (1.6) $ — $ (1.6) $ (9.2) $ 3.5 $ (5.7)

Earnings (loss) per common sh_2

Earnings (loss) per common share (Tables)	9 Months Ended
	Sep. 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 earnings (loss) per common share: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Numerator: Net income (loss) $ 114.8 $ (263.4) $ (159.3) $ (711.0) Denominator: Weighted-average number of shares outstanding-basic 53.1 51.8 52.6 50.9 Dilutive securities - equity awards 2.5 — — — Weighted-average number of shares outstanding-diluted 55.6 51.8 52.6 50.9 Earnings (loss) per common share - basic $ 2.16 $ (5.08) $ (3.03) $ (13.97) Earnings (loss) per common share - diluted $ 2.06 $ (5.08) $ (3.03) $ (13.97) Anti-dilutive securities 2.6 4.0 4.4 3.6

Revenue recognition (Tables)

Revenue recognition (Tables)	9 Months Ended
	Sep. 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 nine months ended September 30, 2024 and 2023 were as follows: Three Months Ended September 30, 2024 Three Months Ended September 30, 2023 USG Non-USG Total USG Non-USG Total Commercial Product sales $ — $ 95.3 $ 95.3 $ 0.3 $ 141.8 $ 142.1 MCM Product sales 161.8 12.4 174.2 102.7 5.0 107.7 Bioservices: Services — 13.9 13.9 — 13.2 13.2 Leases — 0.4 0.4 — 1.0 1.0 Total Bioservices $ — $ 14.3 $ 14.3 $ — $ 14.2 $ 14.2 Contracts and grants 9.7 0.3 10.0 5.1 1.4 6.5 Total revenues $ 171.5 $ 122.3 $ 293.8 $ 108.1 $ 162.4 $ 270.5 Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023 USG Non-USG Total USG Non-USG Total Commercial Product sales $ 0.4 $ 333.4 $ 333.8 $ 0.6 $ 385.6 $ 386.2 MCM Product sales 319.7 73.3 393.0 279.0 30.2 309.2 Bioservices: Services (1) — 96.7 96.7 — 52.2 52.2 Leases — 0.8 0.8 — 5.5 5.5 Total Bioservices $ — $ 97.5 $ 97.5 $ — $ 57.7 $ 57.7 Contracts and grants 23.7 0.9 24.6 14.6 5.0 19.6 Total revenues $ 343.8 $ 505.1 $ 848.9 $ 294.2 $ 478.5 $ 772.7 (1) Bioservices Services revenues for the nine months ended September 30, 2024 include $50.0 million attributable to the Settlement Agreement with Janssen related to the 2022 termination of the Janssen Agreement. The revenue is related to raw materials purchased for the Janssen Agreement which Janssen had not reimbursed. See Note 15, “Litigation” for additional information related to the accounting treatment and settlement of the arbitration with Janssen.
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 September 30, 2024 $ 10.7 Revenue recognized in the period from amounts included in contract liability at the beginning of the period: $ 25.8
Schedule of Accounts Receivable, Net	Accounts receivable, including unbilled accounts receivable contract assets, consist of the following: September 30, 2024 December 31, 2023 Accounts receivable: Billed $ 102.6 $ 141.8 Unbilled 19.2 51.4 Allowance for expected credit losses (0.5) (2.2) Accounts receivable, net $ 121.3 $ 191.0

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Schedule of Components of Lease Expense	The components of lease expense were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Operating lease cost: Amortization of right-of-use assets $ 0.7 $ 1.1 $ 2.5 $ 3.1 Interest on lease liabilities 0.2 0.2 0.6 0.6 Total operating lease cost $ 0.9 $ 1.3 $ 3.1 $ 3.7
Schedule of Leases Supplemental Balance Sheets	Supplemental balance sheet information related to lessee activities is as follows: Leases Classification September 30, 2024 December 31, 2023 Operating lease right-of-use assets Other assets $ 12.4 $ 16.2 Operating lease liabilities, current portion Other current liabilities $ 2.7 $ 3.5 Operating lease liabilities Other liabilities 10.7 13.8 Total operating lease liabilities $ 13.4 $ 17.3 Operating leases: Weighted average remaining lease term (years) 6.0 6.2 Weighted average discount rate 5.5 % 5.3 %

Segment information (Tables)

Segment information (Tables)	9 Months Ended
	Sep. 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 nine months ended September 30, 2024 and 2023: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues: Commercial Products $ 95.3 $ 142.1 $ 333.8 $ 386.2 MCM Products 174.2 107.7 393.0 309.2 Services 14.3 14.2 97.5 57.7 Segment revenues 283.8 264.0 824.3 753.1 Contracts and grants revenue 10.0 6.5 24.6 19.6 Total revenues $ 293.8 $ 270.5 $ 848.9 $ 772.7 Cost of sales or services: Cost of Commercial Product sales $ 47.2 $ 60.0 $ 152.7 160.2 Cost of MCM Product sales 54.0 72.5 147.3 208.4 Cost of Services 21.4 44.3 263.3 151.7 Total cost of sales or services $ 122.6 $ 176.8 $ 563.3 $ 520.3 Gross margin Commercial Products $ 48.1 $ 82.1 $ 181.1 $ 226.0 MCM Products 120.2 35.2 245.7 100.8 Services (7.1) (30.1) (165.8) (94.0) Total segment gross margin (1) $ 161.2 $ 87.2 $ 261.0 $ 232.8 Gross margin % Commercial Products 50 % 58 % 54 % 59 % MCM Products 69 % 33 % 63 % 33 % Services (50) % (212) % (170) % (163) % Total Segment 57 % 33 % 32 % 31 % Segment adjusted gross margin Commercial Products $ 48.1 $ 82.1 $ 181.1 $ 226.0 MCM Products 126.3 39.1 255.0 109.3 Services (7.0) (22.0) (55.3) (85.9) Total segment adjusted gross margin $ 167.4 $ 99.2 $ 380.8 $ 249.4 (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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Total segment adjusted gross margin $ 167.4 $ 99.2 $ 380.8 $ 249.4 Reconciling items: Contracts and grants revenue $ 10.0 $ 6.5 $ 24.6 $ 19.6 Segment restructuring costs (5.0) (13.1) (7.8) (15.1) Segment inventory step-up provision (1.2) — (1.2) (1.9) Segment changes in fair value of financial instruments — 1.1 (0.6) 0.4 Segment settlement charge, net — — (110.2) — Goodwill impairment — (218.2) — (218.2) Impairment of long-lived assets — — (27.2) (306.7) Research and development (13.8) (15.3) (61.6) (82.0) Selling, general and administrative (76.6) (86.0) (247.2) (278.7) Amortization of intangible assets (16.3) (16.3) (48.8) (49.4) Interest expense (8.3) (19.7) (56.2) (66.2) Gain (loss) on sale of business 64.3 (0.7) 24.3 74.2 Other, net 21.9 (3.4) 15.8 (2.1) Income (loss) before income taxes $ 142.4 $ (265.9) $ (115.3) $ (676.7)
Schedule of Segment Reporting Information, by Segment	The following table includes depreciation expense for each segment: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Depreciation: Commercial Products $ — $ — $ — $ 0.3 MCM Products 4.7 7.4 $ 16.0 $ 22.6 Services 2.3 3.4 7.4 19.7 Other 3.1 0.9 10.6 3.5 Total $ 10.1 $ 11.7 $ 34.0 $ 46.1

Nature of the business and or_2

Nature of the business and organization (Details)	9 Months Ended
	Sep. 30, 2024 segment Category category product
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of categories of public health threats | category	4
Number of revenue generating products | product	10
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 ($)			9 Months Ended
	Aug. 20, 2024	Jul. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Aug. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total debt			$ 700,800,000			$ 868,400,000
Proceeds from sale of business			110,200,000	$ 270,200,000
Cash and cash equivalents			149,900,000	$ 87,800,000		$ 111,700,000
Jansen Pharmaceuticals, Inc.
Debt Instrument [Line Items]
Proceeds from legal settlements		$ 50,000,000	50,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | RSDL
Debt Instrument [Line Items]
Proceeds from sale of business		$ 75,000,000	75,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Baltimore-Camden Facility
Debt Instrument [Line Items]
Proceeds from sale of business	$ 35,000,000		35,000,000
Term Loan | Line of Credit | Secured Debt
Debt Instrument [Line Items]
Debt instrument, face amount			250,000,000		$ 250,000,000
Total debt			250,000,000
Revolving Loans | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Total debt			0
Maximum borrowing capacity			100,000,000
Maximum borrowing capacity, increase limit			125,000,000
Maximum borrowing capacity, decrease limit			50,000,000
Current borrowing capacity			$ 100,000,000

Divestitures (Details)

Divestitures (Details)						3 Months Ended		9 Months Ended
	Aug. 20, 2024 USD ($) employee	Aug. 13, 2024 USD ($)	Jul. 31, 2024 USD ($)	Jul. 18, 2024 USD ($)	May 15, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash purchase price								$ 110,200,000	$ 270,200,000
Gain (loss) on sale of business						$ 64,300,000	$ (700,000)	24,300,000	74,200,000
Transaction costs									4,000,000
Other, net						21,900,000	(3,400,000)	15,800,000	(2,100,000)
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					$ 270,200,000
Other, net						0	$ 1,200,000	500,000	$ 2,200,000
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					80,000,000
Increase in contingent consideration, asset		$ 20,000,000		$ 10,000,000
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					$ 30,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | RSDL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash purchase price			$ 75,000,000					75,000,000
Milestone payments receivable			$ 5,000,000
Gain (loss) on sale of business						60,800,000		60,800,000
Transaction costs						4,100,000		4,100,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Baltimore-Camden Facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash purchase price	$ 35,000,000							35,000,000
Gain (loss) on sale of business								(36,500,000)
Transaction costs								3,800,000
Other, net						100,000		$ 100,000
Number of positions eliminated | employee	350
Gain on transfer to held-for-sale						$ 3,500,000

Impairment and restructuring _3

Impairment and restructuring charges - Narrative (Details) $ in Millions	1 Months Ended				3 Months Ended				9 Months Ended
	Aug. 31, 2024 employee	May 31, 2024 employee positions	Aug. 31, 2023 employee	Jan. 31, 2023 employee	Sep. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Impairment of long-lived assets					$ 0	$ 27.2	$ 0	$ 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					20				20
Number of currently vacant positions eliminated | positions		85
August 2024 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Workforce reduction | employee	70
Restructuring charges incurred since inception					$ 3.5				$ 3.5

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				9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets	$ 0	$ 27.2	$ 0	$ 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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Segment restructuring costs	$ 6.3	$ 20.3	$ 22.9	$ 29.9
R&D
Restructuring Cost and Reserve [Line Items]
Segment restructuring costs	0.6	0.9	5.9	3.4
Employee transition
Restructuring Cost and Reserve [Line Items]
Segment restructuring costs	0.1	0.3	0.3	0.6
Severance payments
Restructuring Cost and Reserve [Line Items]
Segment restructuring costs	5	17.9	19.3	26.6
Employee benefits
Restructuring Cost and Reserve [Line Items]
Segment restructuring costs	1.2	2.1	3.3	2.7
Total restructuring costs by segment
Restructuring Cost and Reserve [Line Items]
Segment restructuring costs	5	13.1	7.8	15.1
SG&A
Restructuring Cost and Reserve [Line Items]
Segment restructuring costs	0.7	6.3	9.2	11.4
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	4.9	5	7.5	7
Services | Total restructuring costs by segment
Restructuring Cost and Reserve [Line Items]
Segment restructuring costs	$ 0.1	$ 8.1	$ 0.3	$ 8.1

Impairment and restructuring _6

Impairment and restructuring charges - Schedule of Restructuring Reserve by Type of Cost (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Reserve [Roll Forward]
Accruals	$ 6.3			$ 20.3			$ 22.9	$ 29.9
January 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0	$ 0.1	$ 1.4	3.6	$ 7.4	$ 0	1.4	0
Accruals	0			(0.2)	(0.1)	9.7
Cash payments	0	(0.1)	(1.3)	(1.1)	(3.7)	(2.3)
Ending balance	0	0	0.1	2.3	3.6	7.4	0	2.3
August 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0.6	1.3	5.4	0			5.4
Accruals	0	(0.1)	(0.5)	20.5
Cash payments	(0.3)	(0.6)	(3.6)	(1.9)
Ending balance	0.3	0.6	1.3	18.6	0		0.3	18.6
May 2024 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	17	0
Accruals	2.8	17.2
Cash payments	(7)	(0.2)
Ending balance	12.8	17	0				12.8
August 2024 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0
Accruals	3.5
Cash payments	(0.1)
Ending balance	3.4	0					3.4
Employee transition
Restructuring Reserve [Roll Forward]
Accruals	0.1			0.3			0.3	0.6
Employee transition | January 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0	0	0	0.1	0.1	0	0	0
Accruals	0			0	0	0.3
Cash payments	0	0	0	0	0	(0.2)
Ending balance	0	0	0	0.1	0.1	0.1	0	0.1
Employee transition | August 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0	0	0	0			0
Accruals	0	0	0	0.3
Cash payments	0	0	0	(0.2)
Ending balance	0	0	0	0.1	0		0	0.1
Employee transition | May 2024 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0	0
Accruals	0	0.2
Cash payments	0	(0.2)
Ending balance	0	0	0				0
Employee transition | August 2024 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0
Accruals	0.1
Cash payments	(0.1)
Ending balance	0	0					0
Severance payments
Restructuring Reserve [Roll Forward]
Accruals	5			17.9			19.3	26.6
Severance payments | January 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0	0.1	1.4	3.2	6.7	0	1.4	0
Accruals	0			0	0.1	8.7
Cash payments	0	(0.1)	(1.3)	(1.1)	(3.6)	(2)
Ending balance	0	0	0.1	2.1	3.2	6.7	0	2.1
Severance payments | August 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0.6	1.2	5.3	0			5.3
Accruals	0	(0.1)	(0.5)	17.9
Cash payments	(0.3)	(0.5)	(3.6)	(1.7)
Ending balance	0.3	0.6	1.2	16.2	0		0.3	16.2
Severance payments | May 2024 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	14.8	0
Accruals	2.3	14.8
Cash payments	(6.3)	0
Ending balance	10.8	14.8	0				10.8
Severance payments | August 2024 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0
Accruals	2.7
Cash payments	0
Ending balance	2.7	0					2.7
Employee benefits
Restructuring Reserve [Roll Forward]
Accruals	1.2			2.1			3.3	2.7
Employee benefits | January 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0	0	0	0.3	0.6	0	0	0
Accruals	0			(0.2)	(0.2)	0.7
Cash payments	0	0	0	0	(0.1)	(0.1)
Ending balance	0	0	0	0.1	0.3	$ 0.6	0	0.1
Employee benefits | August 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0	0.1	0.1	0			0.1
Accruals	0	0	0	2.3
Cash payments	0	(0.1)	0
Ending balance	0	0	0.1	$ 2.3	$ 0		0	$ 2.3
Employee benefits | May 2024 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	2.2	0
Accruals	0.5	2.2
Cash payments	(0.7)	0
Ending balance	2	2.2	$ 0				2
Employee benefits | August 2024 Restructuring Plan
Restructuring Reserve [Roll Forward]
Beginning balance	0
Accruals	0.7
Cash payments	0
Ending balance	$ 0.7	$ 0					$ 0.7

Inventories, net - Schedule of

Inventories, net - Schedule of Inventory (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 86.7	$ 128.7
Work-in-process	113.7	113.3
Finished goods	122.3	86.9
Total inventories, net	$ 322.7	$ 328.9

Property, plant and equipment_3

Property, plant and equipment, net - Schedule of Property, Plant, and Equipment (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	$ 671.9	$ 794.2
Less: Accumulated depreciation and amortization	(393.8)	(411.4)
Total property, plant and equipment, net	278.1	382.8
Land and improvements
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	25.8	30
Buildings, building improvements and leasehold improvements
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	195.3	229.9
Furniture and equipment
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	372.6	433.6
Software
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	66.8	64
Construction-in-progress
Property, Plant and Equipment [Abstract]
Property, plant and equipment, gross	$ 11.4	$ 36.7

Intangible assets and goodwil_2

Intangible assets and goodwill - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 889.5	$ 889.5
Accumulated Amortization	371.7	322.9
Net Carrying Amount	$ 517.8	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	337.6	288.8
Net Carrying Amount	$ 517.8	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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 16.3	$ 16.3	$ 48.8	$ 49.4

Intangible assets and goodwil_4

Intangible assets and goodwill - Narrative (Details) - USD ($)	Sep. 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	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 75.4	$ 40.5
Contingent consideration	0	5.6
Warrant liability	13.9	0
Total	13.9	5.6
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	75.4	40.5
Contingent consideration	0	0
Warrant liability	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
Warrant liability	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	0	5.6
Warrant liability	13.9	0
Total	13.9	5.6
Money market accounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market accounts	75.4	40.5
Money market accounts | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market accounts	75.4	40.5
Money market accounts | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market accounts	0	0
Money market accounts | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market accounts	$ 0	$ 0

Fair value measurements - Narra

Fair value measurements - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Aug. 07, 2020
Debt Instrument [Line Items]
Business combination, contingent consideration, liability, current	$ 0		$ 2.7
Warrant
Debt Instrument [Line Items]
Fair value of the liability at issuance	13.4
Fair value, measurement with unobservable inputs reconciliation, recurring basis, liability value	$ 13.9	$ 0
Series I Warrants
Debt Instrument [Line Items]
Class of warrant or right, number of securities called by warrants or rights (in shares)	1
Class of warrant or right, exercise price of warrants or rights	$ 9.8802
Series II Warrants
Debt Instrument [Line Items]
Class of warrant or right, number of securities called by warrants or rights (in shares)	1.5
Class of warrant or right, exercise price of warrants or rights	$ 15.7185
Senior Unsecured Notes Due August 2028 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate percentage	3.875%		3.875%	3.875%
Long-term debt, fair value	$ 343.1		$ 184.3

Fair value measurements - Level

Fair value measurements - Level 3 Fair Value Of Common Stock Warrant Liability (Details) - Warrant $ in Millions	3 Months Ended
	Sep. 30, 2024 USD ($)
Unobservable Input Reconciliation [Roll Forward]
Balance, beginning of period	$ 0
Issuance of Warrants	13.4
Change in fair value	0.5
Balance, end of period	$ 13.9

Fair value measurements - Lev_2

Fair value measurements - Level 3 Fair Value Inputs In The Black-Scholes Option Pricing Models (Details) - Level 3 - Fair Value, Recurring - Black-Scholes Method - 2024 Warrants	Sep. 30, 2024 Term
Term (in years)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrants, measurement input	4.9
Risk free interest rate
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrants, measurement input	0.035
Volatility
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrants, measurement input	0.95

Fair value measurements - Sch_2

Fair value measurements - Schedule of Contingent Consideration Roll Forward (Details) - Contingent Consideration - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Unobservable Input Reconciliation [Roll Forward]
Balance, beginning of period	$ 4.3	$ 5.5	$ 5.6	$ 7.4	$ 7.6	$ 8
Change in fair value	0	0.1	0.5	(1.1)	0.4	0.3
Settlements	(0.4)	(1.3)	(0.6)	(0.9)	(0.6)	(0.7)
Sales(1)	(3.9)
Balance, end of period	$ 0	$ 4.3	$ 5.5	$ 5.4	$ 7.4	$ 7.6

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Aug. 07, 2020
Debt Instrument [Line Items]
Total debt	$ 700.8	$ 868.4
Current portion of long-term debt, net of debt issuance costs	(0.8)	(413.7)
Unamortized debt issuance costs	(38.2)	(8.2)
Non-current portion of debt, net of debt issuance costs	661.8	446.5
Other
Debt Instrument [Line Items]
Total debt	$ 0.8	$ 1
Senior Notes | Senior Unsecured Notes Due August 2028
Debt Instrument [Line Items]
Stated interest rate percentage	3.875%	3.875%	3.875%
Total debt	$ 450	$ 450	$ 450
Secured Debt | Line of Credit | Term loan due 2029
Debt Instrument [Line Items]
Total debt	250	0
Secured Debt | Line of Credit | Term Loan Due 2025
Debt Instrument [Line Items]
Total debt	0	198.2
Revolving Credit Facility | Line of Credit | Revolver Loan Due 2025
Debt Instrument [Line Items]
Total debt	$ 0	$ 219.2

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Cash collateral for borrowed securities	$ 5.5	$ 5.5
Gain on extinguishments of debt	0.3	0.6	$ 0
Secured Debt | Term Loan | Line of Credit
Debt Instrument [Line Items]
Debt issuance costs, net	35	35
Revolving Credit Facility | Revolver Loan Due 2025 | Line of Credit
Debt Instrument [Line Items]
Debt issuance costs, current, net	$ 4.2	$ 4.2		$ 5.3

Debt - Senior Unsecured Notes d

Debt - Senior Unsecured Notes due 2028 (Details) - USD ($) $ in Millions	Aug. 07, 2020	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total debt		$ 700.8	$ 868.4
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 interest rate percentage	3.875%	3.875%	3.875%
Total debt	$ 450	$ 450	$ 450

Debt - Term Loan Agreement (Det

Debt - Term Loan Agreement (Details) - Term Loan - Line of Credit - Secured Debt	Aug. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)
Debt Instrument [Line Items]
Debt instrument, face amount	$ 250,000,000	$ 250,000,000
Original issue discount, percentage	3%
Additional default interest rate	2%
Aggregate principal amount outstanding threshold	$ 25,000,000
Minimum liquidity requirement		$ 75,000,000
Gross leverage ratio		5.10
Basis spread on make-whole premium	4%
Prepayment premium	4%
Prepayment premium, decrease	0.25%
Mandatory prepayment, percentage of net cash proceeds from indebtedness incurred	100%
Mandatory prepayment, percentage of net cash proceeds from dispositions of property and insurance proceeds	100%
Mandatory prepayment, net cash proceeds from disposition of property threshold, annual basis	$ 10,000,000
Mandatory prepayment, net cash proceeds from disposition of property threshold, per transaction basis	$ 5,000,000
Base Rate
Debt Instrument [Line Items]
Variable interest rate floor	1%
Debt instrument, basis spread on variable rate	7.25%
Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	8.25%
Secured Overnight Financing Rate (SOFR) | Until The Second Anniversary Of The Closing Date
Debt Instrument [Line Items]
Variable interest rate floor	2%
Secured Overnight Financing Rate (SOFR) | After The Second Anniversary Of The Closing Date
Debt Instrument [Line Items]
Variable interest rate floor	3%

Debt - Revolving Loan Agreement

Debt - Revolving Loan Agreement (Details) - Line of Credit	Sep. 30, 2024 USD ($)
Revolving Credit Facility | Revolving Loans
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 100,000,000
Maximum borrowing capacity, increase limit	125,000,000
Maximum borrowing capacity, decrease limit	$ 50,000,000
Borrowers’ total leverage ratio	4
Stated interest rate percentage	2%
Covenant maturity, number of days prior to the maturity date	90 days
Minimum liquidity requirement	$ 50,000,000
Gross leverage ratio	5.25
Fixed charge coverage ratio	100%
Revolving Credit Facility | Revolving Loans, Until September 30, 2025 | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.25%
Revolving Credit Facility | Revolving Loans, Until September 30, 2025 | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.25%
Variable interest rate floor	0%
Revolving Credit Facility | Revolving Loans, After September 30, 2025 | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.75%
Revolving Credit Facility | Revolving Loans, After September 30, 2025 | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.75%
Bridge Loan | Revolving Loans
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 5,000,000
Letter of Credit | Revolving Loans
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 10,000,000

Share-based compensation and _3

Share-based compensation and stockholders' equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		9 Months Ended
	Sep. 17, 2024	Sep. 30, 2024	Jun. 30, 2023	Sep. 30, 2024	Dec. 31, 2023	May 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested options forfeited (in shares)				1,000,000
Warrant liability		$ 13.9		$ 13.9	$ 0
Level 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrant liability		$ 13.9		$ 13.9	$ 0
Series I Warrants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Class of warrant or right, number of securities called by warrants or rights (in shares)		1,000,000		1,000,000
Series II Warrants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Class of warrant or right, number of securities called by warrants or rights (in shares)		1,500,000		1,500,000
Subscription Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	1,100,000
Consideration received on transaction	$ 10
Sale of stock, price per share (in dollars per share)	$ 8.98
Liabilities, fair value adjustment		$ 1.6		$ 1.6
At-The-Market Offering
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		0	1,100,000
Sale of stock, price per share (in dollars per share)			$ 8.22
Sale of stock, aggregate offering amount, maximum						$ 150
Sale of stock, consideration received on transaction, gross			$ 9.1
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)				4,100,000
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)				400,000
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
Equity instruments other than options, forfeited in period (in shares)				100,000
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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 2.3	$ 4	$ 13.7	$ 19.1
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	0.3	1	1.6	3.5
Cost of Commercial Product sales | Total Bioservices revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	(0.1)	0.2	0.2	0.8
R&D
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	0	0.6	1	1.7
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 2.1	$ 2.2	$ 10.9	$ 13

Share-based compensation and _5

Share-based compensation and stockholders' equity - Schedule of Stockholders' Equity Note, Warrants or Rights (Details) shares in Millions	Sep. 30, 2024 $ / shares shares
Class of Warrant or Right [Line Items]
Warrants Outstanding | shares	2.5
Warrants issued related to the Term Loan Agreement
Class of Warrant or Right [Line Items]
Warrants Outstanding | shares	2.5
Warrants issued related to the Term Loan Agreement | Minimum
Class of Warrant or Right [Line Items]
Range of Exercise Price per Share (in dollars per share) | $ / shares	$ 9.88
Warrants issued related to the Term Loan Agreement | Maximum
Class of Warrant or Right [Line Items]
Range of Exercise Price per Share (in dollars per share) | $ / shares	$ 15.72

Share-based compensation and _6

Share-based compensation and stockholders' equity - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 386.3	$ 663.9	$ 649.3	$ 957.7	$ 1,204.1	$ 1,387.7	$ 649.3	$ 1,387.7
Other comprehensive income before reclassifications	(1.8)	0	0.2	2.1	3.8	(4.5)
Amounts reclassified from accumulated other comprehensive loss				(3.1)	(6.4)	2.4
Total other comprehensive income (loss), net of tax	(1.8)	0	0.2	(1)	(2.6)	(2.1)	(1.6)	(5.7)
Ending balance	508.4	386.3	663.9	697.2	957.7	1,204.1	508.4	697.2
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(5.5)	(5.5)	(5.7)	(1.6)	1	3.1	(5.7)	3.1
Total other comprehensive income (loss), net of tax	(1.8)		0.2	(1)	(2.6)	(2.1)
Ending balance	(7.3)	(5.5)	(5.5)	(2.6)	(1.6)	1	(7.3)	(2.6)
Defined Benefit Pension Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	0	0	0	0	3.5	3.5	0	3.5
Other comprehensive income before reclassifications	0	0	0	0	0	0
Amounts reclassified from accumulated other comprehensive loss				0	(3.5)	0
Total other comprehensive income (loss), net of tax	0	0	0	0	(3.5)	0	0	(3.5)
Ending balance	0	0	0	0	0	3.5	0	0
Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	0	0	0	2.5	4.2	6.2	0	6.2
Other comprehensive income before reclassifications	0	0	0	0.9	1.2	(4.4)
Amounts reclassified from accumulated other comprehensive loss				(3.1)	(2.9)	2.4
Total other comprehensive income (loss), net of tax	0	0	0	(2.2)	(1.7)	(2)	0	(5.9)
Ending balance	0	0	0	0.3	2.5	4.2	0	0.3
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(5.5)	(5.5)	(5.7)	(4.1)	(6.7)	(6.6)	(5.7)	(6.6)
Other comprehensive income before reclassifications	(1.8)	0	0.2	1.2	2.6	(0.1)
Amounts reclassified from accumulated other comprehensive loss				0	0	0
Total other comprehensive income (loss), net of tax	(1.8)	0	0.2	1.2	2.6	(0.1)	(1.6)	3.7
Ending balance	$ (7.3)	$ (5.5)	$ (5.5)	$ (2.9)	$ (4.1)	$ (6.7)	$ (7.3)	$ (2.9)

Share-based compensation and _7

Share-based compensation and stockholders' equity - Schedule of Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pretax	$ (1.8)			$ (2.2)			$ (1.6)	$ (9.2)
Tax Expense	0			1.2			0	3.5
Total other comprehensive income (loss), net of tax	(1.8)	$ 0	$ 0.2	(1)	$ (2.6)	$ (2.1)	(1.6)	(5.7)
Defined Benefit Pension Plan
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pretax							0	(4.1)
Tax Expense							0	0.6
Total other comprehensive income (loss), net of tax	0	0	0	0	(3.5)	0	0	(3.5)
Derivative Instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pretax	0			(3.1)			0	(8)
Tax Expense	0			0.9			0	2.1
Total other comprehensive income (loss), net of tax	0	0	0	(2.2)	(1.7)	(2)	0	(5.9)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pretax	(1.8)			0.9			(1.6)	2.9
Tax Expense	0			0.3			0	0.8
Total other comprehensive income (loss), net of tax	$ (1.8)	$ 0	$ 0.2	$ 1.2	$ 2.6	$ (0.1)	$ (1.6)	$ 3.7

Earnings (loss) per common sh_3

Earnings (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						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net income (loss)	$ 114.8	$ (283.1)	$ 9	$ (263.4)	$ (261.4)	$ (186.2)	$ (159.3)	$ (711)
Denominator:
Weighted-average number of shares outstanding-basic (in shares)	53.1			51.8			52.6	50.9
Dilutive securities - equity awards (in shares)	2.5			0			0	0
Weighted-average number of shares outstanding-diluted (in shares)	55.6			51.8			52.6	50.9
Earnings (loss) per common share - basic (in dollars per share)	$ 2.16			$ (5.08)			$ (3.03)	$ (13.97)
Earnings (loss) per common share - diluted (in dollars per share)	$ 2.06			$ (5.08)			$ (3.03)	$ (13.97)
Anti-dilutive securities (in shares)	2.6			4			4.4	3.6

Revenue recognition - Schedule

Revenue recognition - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenues	$ 293.8	$ 270.5	$ 848.9	$ 772.7
Commercial Product sales
Disaggregation of Revenue [Line Items]
Revenue	95.3	142.1	333.8	386.2
MCM Product sales
Disaggregation of Revenue [Line Items]
Revenue	174.2	107.7	393	309.2
Total Bioservices revenues
Disaggregation of Revenue [Line Items]
Total Bioservices revenues	14.3	14.2	97.5	57.7
Services
Disaggregation of Revenue [Line Items]
Revenue	13.9	13.2	96.7	52.2
Leases
Disaggregation of Revenue [Line Items]
Leases	0.4	1	0.8	5.5
Contracts and grants
Disaggregation of Revenue [Line Items]
Revenue	10	6.5	24.6	19.6
USG
Disaggregation of Revenue [Line Items]
Total revenues	171.5	108.1	343.8	294.2
USG | Commercial Product sales
Disaggregation of Revenue [Line Items]
Revenue	0	0.3	0.4	0.6
USG | MCM Product sales
Disaggregation of Revenue [Line Items]
Revenue	161.8	102.7	319.7	279
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	9.7	5.1	23.7	14.6
Non-USG
Disaggregation of Revenue [Line Items]
Total revenues	122.3	162.4	505.1	478.5
Non-USG | Commercial Product sales
Disaggregation of Revenue [Line Items]
Revenue	95.3	141.8	333.4	385.6
Non-USG | MCM Product sales
Disaggregation of Revenue [Line Items]
Revenue	12.4	5	73.3	30.2
Non-USG | Total Bioservices revenues
Disaggregation of Revenue [Line Items]
Total Bioservices revenues	14.3	14.2	97.5	57.7
Non-USG | Services
Disaggregation of Revenue [Line Items]
Revenue	13.9	13.2	96.7	52.2
Non-USG | Leases
Disaggregation of Revenue [Line Items]
Leases	0.4	1	0.8	5.5
Non-USG | Contracts and grants
Disaggregation of Revenue [Line Items]
Revenue	$ 0.3	$ 1.4	0.9	$ 5
Janssen Pharmaceuticals, Inc., | Services
Disaggregation of Revenue [Line Items]
Revenue			$ 50

Revenue recognition - Narrative

Revenue recognition - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, amount	$ 322,400,000		$ 322,400,000
Contract with customer, asset, noncurrent	7,000,000		7,000,000		$ 21,900,000
Current portion of contract liabilities	$ 7,300,000		$ 7,300,000		$ 27,200,000
Non-USG
Disaggregation of Revenue [Line Items]
Lessee, operating lease, remaining lease term	2 years 1 month 6 days		2 years 1 month 6 days
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, amount	$ 281,600,000		$ 281,600,000
Revenue, remaining performance obligation, expected timing of satisfaction, period	24 months		24 months
Leases
Disaggregation of Revenue [Line Items]
Leases	$ 400,000	$ 1,000,000	$ 800,000	$ 5,500,000
Lessor, operating lease, payment to be received, remainder of fiscal year	600,000		600,000
Lessor, operating lease, payment to be received, year one	2,200,000		2,200,000
Lessor, operating lease, payment to be received, year two	1,700,000		1,700,000
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	9 Months Ended
	Sep. 30, 2024 USD ($)
Change in Contract With Customer, Liability [Roll Forward]
Beginning of period	$ 29.9
End of period	10.7
Revenue recognized in the period from amounts included in contract liability at the beginning of the period:	$ 25.8

Revenue recognition - Schedul_3

Revenue recognition - Schedule of Accounts Receivable, Net (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Billed	$ 102.6	$ 141.8
Unbilled	19.2	51.4
Allowance for expected credit losses	(0.5)	(2.2)
Accounts receivable, net	$ 121.3	$ 191

Leases - Schedule of Components

Leases - Schedule of Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating lease cost:
Amortization of right-of-use assets	$ 0.7	$ 1.1	$ 2.5	$ 3.1
Interest on lease liabilities	0.2	0.2	0.6	0.6
Total operating lease cost	$ 0.9	$ 1.3	$ 3.1	$ 3.7

Leases - Schedule of Leases Sup

Leases - Schedule of Leases Supplemental Balance Sheets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Operating Leases
Operating lease right-of-use assets	$ 12.4	$ 16.2
Operating lease liabilities, current portion	2.7	3.5
Operating lease liabilities	10.7	13.8
Total operating lease liabilities	$ 13.4	$ 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	6 years 2 months 12 days
Weighted average discount rate	5.50%	5.30%

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2024	Dec. 31, 2023
Income Tax Examination [Line Items]
Effective tax rate			(38.00%)	(5.00%)		(5.00%)
Discrete tax expense (benefit)	$ 0.4	$ 1	$ 0.4	$ 1
Forecast
Income Tax Examination [Line Items]
Effective tax rate					20%

Litigation (Details)

Litigation (Details) - USD ($)			3 Months Ended			9 Months Ended
	Oct. 04, 2024	Jul. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2024	Sep. 30, 2023	Jul. 02, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Line Items]
Other assets			$ 20,500,000			$ 20,500,000			$ 194,300,000
Cost of goods and services sold			122,600,000	$ 176,800,000		563,300,000	$ 520,300,000
Inventory write-offs			0	0		110,200,000	0
Subsequent Event | Securities And Shareholder Litigation
Commitments and Contingencies Disclosure [Line Items]
Damages paid	$ 40,000,000
Damages paid from insurance proceeds	$ 30,000,000
Services
Commitments and Contingencies Disclosure [Line Items]
Revenue			13,900,000	13,200,000		96,700,000	52,200,000
Total Bioservices revenues
Commitments and Contingencies Disclosure [Line Items]
Cost of goods and services sold			21,400,000	$ 44,300,000		263,300,000	$ 151,700,000
Jansen Pharmaceuticals, Inc.
Commitments and Contingencies Disclosure [Line Items]
Proceeds from legal settlements		$ 50,000,000				50,000,000
Increase in other assets					$ 152,700,000
Other assets			$ 0			0		$ 158,700,000
Inventory write-offs						110,200,000
Jansen Pharmaceuticals, Inc. | Services
Commitments and Contingencies Disclosure [Line Items]
Revenue						50,000,000
Jansen Pharmaceuticals, Inc. | Total Bioservices revenues
Commitments and Contingencies Disclosure [Line Items]
Cost of goods and services sold						$ 50,000,000

Segment information - Narrative

Segment information - Narrative (Details)	9 Months Ended
	Sep. 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				9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Total revenues	$ 293.8		$ 270.5		$ 848.9	$ 772.7
Cost of sales or services:
Cost of goods and services sold	122.6		176.8		563.3	520.3
Gross margin	$ 161.2		$ 87.2		$ 261	$ 232.8
Gross margin %	57%		33%		32%	31%
Segment adjusted gross margin	$ 167.4		$ 99.2		$ 380.8	$ 249.4
Reconciling items:
Segment restructuring costs	(6.3)		(20.3)		(22.9)	(29.9)
Segment inventory step-up provision	(1.2)		0		(1.2)	(1.9)
Segment changes in fair value of financial instruments	0		1.1		(0.6)	0.4
Segment settlement charge, net	0		0		(110.2)	0
Goodwill impairment	0		(218.2)		0	(218.2)
Impairment of long-lived assets	0	$ (27.2)	0	$ (306.7)	(27.2)	(306.7)
Research and development	(13.8)		(15.3)		(61.6)	(82)
Selling, general and administrative	(76.6)		(86)		(247.2)	(278.7)
Amortization of intangible assets	(16.3)		(16.3)		(48.8)	(49.4)
Interest expense	(8.3)		(19.7)		(56.2)	(66.2)
Gain (loss) on sale of business	64.3		(0.7)		24.3	74.2
Other, net	21.9		(3.4)		15.8	(2.1)
Income (loss) before income taxes	142.4		(265.9)		(115.3)	(676.7)
Operating Segments
Revenues:
Revenue	283.8		264		824.3	753.1
Reconciling items:
Segment restructuring costs	(5)		(13.1)		(7.8)	(15.1)
Contracts and grants
Revenues:
Revenue	10		6.5		24.6	19.6
Reconciling items:
Contracts and grants revenue	10		6.5		24.6	19.6
Contracts and grants | Contracts and grants revenue
Revenues:
Revenue	10		6.5		24.6	19.6
Reconciling items:
Contracts and grants revenue	10		6.5		24.6	19.6
Commercial Products
Cost of sales or services:
Cost of goods and services sold	47.2		60		152.7	160.2
Gross margin	$ 48.1		$ 82.1		$ 181.1	$ 226
Gross margin %	50%		58%		54%	59%
Segment adjusted gross margin	$ 48.1		$ 82.1		$ 181.1	$ 226
Commercial Products | Operating Segments
Revenues:
Revenue	95.3		142.1		333.8	386.2
Reconciling items:
Contracts and grants revenue	95.3		142.1		333.8	386.2
Segment restructuring costs	0		0		0	0
MCM Products
Cost of sales or services:
Cost of goods and services sold	54		72.5		147.3	208.4
Gross margin	$ 120.2		$ 35.2		$ 245.7	$ 100.8
Gross margin %	69%		33%		63%	33%
Segment adjusted gross margin	$ 126.3		$ 39.1		$ 255	$ 109.3
MCM Products | Operating Segments
Revenues:
Revenue	174.2		107.7		393	309.2
Reconciling items:
Contracts and grants revenue	174.2		107.7		393	309.2
Segment restructuring costs	(4.9)		(5)		(7.5)	(7)
Services
Cost of sales or services:
Cost of goods and services sold	21.4		44.3		263.3	151.7
Gross margin	$ (7.1)		$ (30.1)		$ (165.8)	$ (94)
Gross margin %	(50.00%)		(212.00%)		(170.00%)	(163.00%)
Segment adjusted gross margin	$ (7)		$ (22)		$ (55.3)	$ (85.9)
Services | Operating Segments
Revenues:
Revenue	14.3		14.2		97.5	57.7
Reconciling items:
Segment restructuring costs	$ (0.1)		$ (8.1)		$ (0.3)	$ (8.1)

Segment information - Schedul_2

Segment information - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Depreciation:
Total	$ 10.1	$ 11.7	$ 34	$ 46.1
Other
Depreciation:
Total	3.1	0.9	10.6	3.5
Commercial Products | Operating Segments
Depreciation:
Total	0	0	0	0.3
MCM Products | Operating Segments
Depreciation:
Total	4.7	7.4	16	22.6
Services | Operating Segments
Depreciation:
Total	$ 2.3	$ 3.4	$ 7.4	$ 19.7