Bristol-Myers Squibb will expand its Devens facility, investing $250 million and adding 350 workers, the company announced today.
The firm said it will construct two new buildings totaling 200,000 square feet on its 89-acre campus. One will be dedicated to designing processes for early production of investigational biologics medicines. The other will house clinical manufacturing, where investigational medicines will be produced to support clinical trials.
"Biologics are increasingly important in the treatment of serious diseases and are a growing part of our company's pipeline of potential new therapies," said Lou Schmukler, president of global manufacturing & supply. "This initiative is designed to accelerate the development of new biologics medicines through the closer alignment of biologics research and development, and manufacturing."
The campus already has six buildings creating a 400,000-square-foot complex completed in 2009. It was Bristol-Myers Squibb's first major investment in Massachusetts and, at $750 million, its largest capital investment. It was designed to accommodate future expansion, the company said. Construction is expected to begin late this year and be completed in 2015. Until then, the company said it's leasing 30,000 square feet of lab space in Hopkinton.
According to Bristol-Myers Squibb, the decision to expand reflects the inital success the company has had in Devens, as well as factors that initially drew it to the area such as "the abundance of biotechnology knowledge, education and training in the Boston area, which has created a large and well-qualified workforce, as well as the inception of the state's Life Sciences Initiative."
Through the initiative, $1 billion is being invested in the life sciences industry in Massachusetts over a decade.
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