BMS strengthens capabilities with evolution of its US geographic footprint
Company will also close its Hopewell, New Jersey site and will not renew its lease at the Lake Union Steam Plant site in Seattle, Washington.
Bristol-Myers Squibb (BMS) has announced important changes to its US 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.
BMS 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 US 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, CEO, BMS. “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, 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 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.
Related News
-
News US BIOSECURE Act passed by US House of Representatives
The controversial act, which has already impacted several foreign companies operating in the US, was passed by the House of Representatives on September 9, 2024. It is now headed for the US Senate before it can be signed into law by President Joe Biden... -
News Pharma Supply Chain People Moves
The latest appointments, promotions, and structural changes across the pharmaceutical supply chain. -
News Drug prices agreed upon as part of the US Inflation Reduction Act
The Inflation Reduction Act brought into constitution by the Biden administation in 2022, which proposed a drug price negotiation between the government and pharmaceutical companies, has reached it's first agreement. -
.png)
News BIOSECURE Act continues to loom over Chinese pharma manufacturers
With the US BIOSECURE Act on its way to passing into legislation, Chinese companies are facing declining revenues within the first half of 2024 as US pharmaceutical and healthcare companies pull their businesses from the country. -
.png)
News Ophthalmologic drug product Eylea faces biosimilar threats after FDA approvals
Regeneron Pharmaceutical’s blockbuster ophthalmology drug Eylea is facing biosimilar competition as the US FDA approves Biocon’s Yesafili and Samsung Bioepis/Biogen’s Opuviz. -
News ONO Pharmaceutical expands oncology portfolio with acquisition of Deciphera
ONO Pharmaceutical, out of Japan, is in the process of acquiring cancer-therapy maker Deciphera Pharmaceuticals for US$2.4 billion. -
.png)
News First offers for pharma from Medicare drug price negotiations
Ten high-cost drugs from various pharma manufacturers are in pricing negotiations in a first-ever for the US Medicare program. President Biden’s administration stated they have responded to the first round of offers. -
.png)
News Eli Lilly’s Zepbound makes leaps and bounds in weight-loss drug market
In the last week, Eli Lilly has announced their partnership with Amazon.com’s pharmacy unit to deliver prescriptions of Zepbound. Zepbound has also surpassed Novo Nordisk’s Wegovy for the number of prescriptions for the week of March 8.&nbs...
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance