Bristol-Myers Squibb Strengthens Capabilities with Evolution of its U.S. Geographic Footprint
December 13 2016 - 9:30AM
Business Wire
Bristol-Myers Squibb Company (NYSE:BMY) today announced
important changes to its U.S. geographic footprint that will
strengthen capabilities of the company's R&D hubs of
world-class science and innovation in Central New Jersey, the San
Francisco Bay Area and Cambridge, Massachusetts while further
integrating biologics development with clinical manufacturing at
key sites to foster greater speed and collaboration. The changes
are consistent with the evolution of the company’s operating model,
and follows previously announced investments to modernize workspace
with the development of a state-of-the-art research facility in
Cambridge, the expansion of its Redwood City research campus in the
San Francisco Bay Area and recently opened Princeton Pike facility
in Lawrenceville, New Jersey.
Bristol-Myers Squibb will make investments in the construction
of a new R&D building at the company’s Lawrenceville, New
Jersey campus that will co-locate lab-based Discovery and
Translational Medicine activities, construction at its New
Brunswick, New Jersey facility to support biologics development,
and construction to continue expansion of its biologics campus in
Devens, Massachusetts. The company also announced it intends to
initiate a phased multi-year closure of its Hopewell, New Jersey
site by mid-2020 and will not renew its lease at the Lake Union
Steam Plant site in Seattle, Washington in 2019. The company
confirmed previously announced plans to close its Wallingford,
Connecticut site by the end of 2018, and also announced it will no
longer build a Connecticut Development site. The company expects
many of the roles from Wallingford, Hopewell and Seattle will
transition to other U.S. locations.
“These important changes to our U.S. geographic footprint will
ensure we have the structural, operational and financial
flexibility to deliver as effectively as possible on our mission
for patients,” said Giovanni Caforio, M.D, chief executive officer,
Bristol-Myers Squibb. “Today’s announcement underscores our
commitment to make the right investments to continue to deliver on
the promise of our pipeline and to bring transformational medicines
to patients, today and in the future.”
In October, 2016, Bristol-Myers Squibb announced an evolution of
its operating model to drive the company’s continued success in the
near and long term through a more focused investment in commercial
opportunities against key brands and markets, a competitive and
more agile R&D organization that can accelerate the pipeline,
streamlined operations and realigned manufacturing capabilities
that broaden biologics capabilities to reflect its current and
future portfolio.
About Bristol-Myers
Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose
mission is to discover, develop and deliver innovative medicines
that help patients prevail over serious diseases. For more
information about Bristol-Myers Squibb, visit us at BMS.com or
follow us on LinkedIn, Twitter, YouTube and Facebook.
Bristol-Myers Squibb Forward-Looking Statement
This press release contains “forward-looking statements” as that
term is defined in the Private Securities Litigation Reform Act of
1995 regarding the research, development and commercialization of
pharmaceutical products. Such forward-looking statements are
based on current expectations and involve inherent risks and
uncertainties, including factors that could delay, divert or change
any of them, and could cause actual outcomes and results to differ
materially from current expectations. No forward-looking
statement can be guaranteed. Forward-looking statements in this
press release should be evaluated together with the many
uncertainties that affect Bristol-Myers Squibb's business,
particularly those identified in the cautionary factors discussion
in Bristol-Myers Squibb's Annual Report on Form 10-K for the year
ended December 31, 2014 in our Quarterly Reports on Form 10-Q and
our Current Reports on Form 8-K. Bristol-Myers Squibb
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events or
otherwise.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161213005261/en/
Bristol-Myers SquibbMedia:Ken Dominski,
609-252-5251ken.dominski@bms.comorLisa McCormick Lavery,
609-252-7602lisa.mccormicklavery@bms.comorInvestors:Tim
Power, 609-252-7509timothy.power@bms.comorBill Szablewski,
609-252-5894william.szablewski@bms.com
Bristol Myers Squibb (NYSE:BMY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Bristol Myers Squibb (NYSE:BMY)
Historical Stock Chart
From Apr 2023 to Apr 2024