GAITHERSBURG, Md. - Emergent BioSolutions Inc. (NYSE: EBS) announced today the appointment of Joseph C. Papa as president and CEO, effective immediately. Papa takes over from Haywood Miller, who served as interim CEO and will be stepping down from his position.
The company's Board of Directors expressed confidence in Papa's extensive experience in the healthcare and pharmaceutical industry, citing his proven track record in driving growth and navigating companies through transformational periods. Zsolt Harsanyi, Ph.D., chairman of the Board, acknowledged Papa's leadership capabilities as critical for Emergent's future, particularly in strengthening the balance sheet and fostering growth.
Papa, with over 35 years in the sector, previously held leadership roles at Bausch and Lomb Corporation, Bausch Health, Perrigo, Cardinal Health (NYSE:CAH), Watson Pharmaceuticals, and Novartis (SIX:NOVN) Pharmaceuticals. His recent accomplishment includes leading Bausch and Lomb's IPO in May 2022, which raised $630M.
Under its new leadership, Emergent aims to continue its mission of addressing public health threats. The company highlighted its recent strategic achievements, such as the launch of NARCAN® Nasal Spray for over-the-counter opioid overdose reversal in the U.S. and securing substantial contracts with the U.S. Department of Defense for anthrax and Ebola vaccines, as well as decontamination lotion kits.
Additionally, Emergent has improved its financial position through organizational changes and resource deployment, leading to significant annual savings and the extension of its secured credit facility's maturity to May 2025. The divestiture of its Travel Health business, valued at up to $380M, further bolstered the company's financial foundation.
Papa expressed optimism about Emergent's important products and the company's role in public health preparedness, committing to accelerate progress and enhance shareholder value.
This leadership transition at Emergent BioSolutions is based on a press release statement, with the company continuing its focus on delivering solutions for public health threats and life-extending products to market.
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