April 11 Bristol-Myers Squibb Co said on
Thursday it plans to spend $250 million to expand its Devens,
Massachusetts, facility that makes large-scale biologic drugs.
The company said the expansion will introduce biologics
development and clinical trial manufacturing capabilities to the
site and add about 350 employees to the Devens workforce over
Work on the expansion, which will include the construction
of two new buildings, is expected to begin in late 2013 and be
completed in 2015.
Together, they will add about 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
The Devens facility currently manufactures the active drug
ingredient for Orencia, or abatacept.
Biologic drugs are medicines made from a living organism or
its products and are used in the prevention, diagnosis or
treatment of cancer and other diseases.
Shares were up 0.6 percent at $41.43 on Thursday morning on
the New York Stock Exchange.