PRINCETON, N.J., Feb. 16 /PRNewswire-FirstCall/ -- Bristol-Myers Squibb
Company (NYSE: BMY) has completed the land purchase of an approximately
89-acre site from MassDevelopment for its new large-scale multi-product
bulk biologics manufacturing facility in Devens, Massachusetts. The company
and MassDevelopment have also finalized agreements related to the
facility's utility infrastructure, including waste water treatment and use
of electricity, water and natural gas. Construction is expected to begin
within the next several weeks, and the facility is projected to be
operationally complete in 2009. The company plans to submit the site for
regulatory approval in 2010.
The new Devens manufacturing facility is expected to support increased
production capacity for commercially available biologic compounds, such as
ORENCIA(R) (abatacept), and help meet future production needs of biologic
compounds currently in development, including the company's investigational
treatments for solid organ transplant rejection and certain types of
cancers.
Bristol-Myers Squibb currently manufactures biologic compounds in a
company-owned facility in Syracuse, NY, and finishes and packages biologic
compounds in Manati, Puerto Rico. The company also has several partnerships
with third-party manufacturers. These internal and external biologics
resources remain important components of the company's overall strategy to
expand its biologics portfolio.
Bristol-Myers Squibb is a global pharmaceutical and related health care
products company whose mission is to extend and enhance human life.
Bristol-Myers Squibb Forward-Looking Statement
This press release contains certain forward-looking information within
the meaning of the Private Securities Litigation Reform Act of 1995
regarding plans to construct a biologics manufacturing facility that
involves substantial risks and uncertainties. Specifically, there can be no
guarantee that the construction of the facility will be completed or
receive the regulatory approvals necessary to begin commercial production,
or that such events will occur on the currently expected timelines. Nor is
there any guaranty that the company's investigational biologic products
whose production would be supported by the facility will be successfully
developed or commercialized, or receive required regulatory approvals. A
further list and description of risks and uncertainties can be found in the
Bristol-Myers Squibb's Annual Report on Form 10-K for the fiscal year ended
December 31, 2005, and in its reports on Form 10-Q and Form 8-K. The
Company undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events or
otherwise.
SOURCE Bristol-Myers Squibb Company
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http://www.bms.com
CONTACT:
Media: Jeff Macdonald, Communications,
+1-212-546-4824, jeffrey.macdonald@bms.com, or Tony Plohoros,
Communications, +1-609-252-7938, tony.plohoros@bms.com, or
Investors: John Elicker, Investor Relations, +1-212-546-3775,
john.elicker@bms.com, or Blaine Davis, Investor Relations,
+1-212-546-4631, blaine.davis@bms.com, all of Bristol-Myers
Squibb Company
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