Bristol-Myers
Squibb Company (NYSE:BMY) today announced plans to construct a new
state-of-the-art, large-scale biologics manufacturing facility in
Cruiserath, County Dublin, Ireland, that will produce multiple therapies
for the company’s growing biologics portfolio. Once completed, the new
facility will significantly increase Bristol-Myers Squibb’s biologics
manufacturing capacity and play a central role in its global
manufacturing network.
Lamberto Andreotti (L), chief executive officer, Bristol-Myers Squibb meets with Ireland's Prime Minister Enda Kenny T.D. (R)
Bristol-Myers Squibb announced plans to construct a new large-scale biologics manufacturing facility in Cruiserath, County Dublin, Ireland
Photo Credit: Bristol-Myers Squibb/Robert Bruschini
http://www.bms.com
Bristol-Myers Squibb has a robust and growing portfolio of approved and
investigational biologic medicines across multiple therapeutic areas
including oncology, virology and immunoscience. Biologic medicines are
an increasingly important tool in the treatment of serious diseases and
comprise more than half of Bristol-Myers Squibb’s research and
development pipeline.
“Our investment in this new facility reflects the strength of our
business and the increasingly important role that biologic medicines
will play in Bristol-Myers Squibb’s future,” said Lamberto
Andreotti, chief executive officer, Bristol-Myers Squibb. “For 50
years, Bristol-Myers Squibb has maintained a significant manufacturing
presence in Ireland, and we look forward to building on that legacy
through this significant expansion of our manufacturing capability.”
“I greatly welcome this investment by Bristol-Myers Squibb, which is a
huge boost to the Irish economy,” said Mr. Enda Kenny T.D., Prime
Minister of Ireland. “I had the opportunity to meet with Bristol-Myers
Squibb, and I'm delighted they chose Ireland as the location for this
large, state-of-the-art facility. Not only will 1,000 construction jobs
be created in the initial phase, but the facility will support up to 400
jobs for skilled professionals. The government has a plan to secure
recovery so that Ireland can attract new jobs and investments such as
those being announced today.”
The 30,000-square meter project will house six 15,000-liter bioreactors
and a purification area as well as office and laboratory space. The
plant will be built on the grounds of the company’s existing bulk
pharmaceutical manufacturing plant.
Bristol-Myers Squibb’s Board of Directors has approved initial funding
that will support the first phase of the project. The full cost of the
facility, expected to be finalized in the second half of 2015, is
anticipated to be comparable to the approximately $900 million
investment to construct and operationalize the company’s biologics
manufacturing facility in Devens, Massachusetts.
Approximately 350 to 400 scientists, engineers, bioprocess operators,
quality specialists and other skilled professionals are expected to work
at the facility when construction is completed, and the construction
program is expected to create about 1,000 jobs. The completion of the
facility, including commissioning and validation, is anticipated to take
approximately four years and is estimated to be operational in 2019.
The company worked with Ireland's Department of Jobs, Enterprise and
Innovation through IDA Ireland as part of the planned expansion.
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, please
visit www.bms.com
or follow us on Twitter at http://twitter.com/bmsnews.
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. 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 construction of the facility will be
completed, or if completed, that it will be in the budget and/or
timeframe described in the release. There is also no guarantee that the
completion of the facility will receive the required regulatory
approvals 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, 2013b, 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.
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