BMS Invests in Biologics Support, Makes US Site Changes
Bristol-Myers Squibb (BMS) has announced that it will make investments to support its biologics initiatives. The company will invest in the construction of a new research and development (R&D) building at its Lawrenceville, New Jersey campus that will co-locate lab-based discovery and translational medicine activities and will invest in construction at its New Brunswick, New Jersey facility to support biologics development as well as invest in construction to continue expansion of its biologics campus in Devens, Massachusetts.
BMS 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. BMS expects many of the roles from Wallingford, Hopewell, and Seattle will transition to other US locations.
These recent moves are part of BMS’ strategy to make changes to its US geographic footprint that will strengthen capabilities of the company’s R&D hubs of 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 BMS’ operating model and follows previously announced investments to modernize workspace with the development of a research facility in Cambridge, the expansion of its Redwood City research campus in the San Francisco Bay Area, and the recently opened Princeton Pike facility in Lawrenceville, New Jersey.
In October, 2016, BMS 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 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.
Source: Bristol-Myers Squibb