Bristol-Myers Squibb to Expand Massachusetts Biologics Facility

Thu Apr 11, 2013 10:15am EDT

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Company to Invest Approximately $250 Million, Increase Workforce
DEVENS, Mass.--(Business Wire)--
Bristol-Myers Squibb (NYSE: BMY) today announced plans for an approximately $250
million expansion of its large-scale biologics manufacturing facility in Devens,
Massachusetts. The expansion will introduce biologics development and clinical
trial manufacturing capabilities to the site, while adding approximately 350
employees to the Devens workforce over time. 

"Biologics are increasingly important in the treatment of serious diseases and
are a growing part of our company`s pipeline of potential new therapies," said
Lou Schmukler, president, Global Manufacturing & Supply. "This initiative is
designed to accelerate the development of new biologics medicines through the
closer alignment of biologics research and development, and manufacturing." 

Bristol-Myers Squibb plans to construct two new buildings on its 89-acre Devens
campus. One will be dedicated to Process Development, a group that designs
processes for early production of investigational biologics medicines. A second
building will house Clinical Manufacturing, where investigational medicines will
be produced to support clinical trials. Both represent new capabilities for
Devens, a site that in its early years has focused solely on large-scale, bulk
biologics manufacturing. 

"This project represents a significant expansion in both the size and mission of
Devens," said Peter Moesta, senior vice president, Biologics Manufacturing and
Process Development. "We envision Devens as a center of excellence for the
development and manufacture of biologics medicines, optimally organized to
support our growing pipeline of investigational medicines and potential new
products." 

Together, the two buildings will add approximately 200,000 square feet of
laboratory and office space to the Devens site, which is now comprised of six
major buildings in a 400,000-square-foot complex. 

Construction of the Devens site was completed in 2009. It was Bristol-Myers
Squibb`s first major facility in Massachusetts and the largest capital
investment in its history - $750 million - and helped signal the company`s
transformation into a next-generation biopharmaceutical company. The Devens site
also was designed to accommodate future expansion, and the decision to expand
reflects both the initial success of Devens and some of the factors that first
drew Bristol-Myers Squibb to the region. These include the abundance of
biotechnology knowledge, education and training in the Boston area, which has
created a large and well-qualified workforce, as well as the inception of the
state`s Life Sciences initiative. 

Work on the expansion is expected to begin in late 2013 and be completed in
2015. In the interim, Bristol-Myers Squibb has leased 30,000 square feet of
laboratory space in nearby Hopkinton, Massachusetts, to begin moving some
biologics process development functions closer to Devens during construction.
The company intends to maintain this space until construction is completed. 

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 plans to
expand a biologics manufacturing facility that involves substantial risks and
uncertainties. 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. Among other risks, there can be no guarantee that the expansion
of the facility will be completed, or if completed, will be completed on the
timeline described in the release. There is also no guarantee that the
completion of the expanded facility will receive the required regulatory
approvals to accelerate production or that the number of employees expected to
be added at the site will be so employed. 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, 2012, 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.

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 the company, visit www.bms.com
or follow us on Twitter at http://twitter.com/bmsnews.

Bristol-Myers Squibb
John Patella, 732-227-6197
john.patella@bms.com

Copyright Business Wire 2013

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