Bristol-Myers Squibb to Expand Massachusetts Biologics Facility

  Bristol-Myers Squibb to Expand Massachusetts Biologics Facility

       Company to Invest Approximately $250 Million, Increase Workforce

Business Wire

DEVENS, Mass. -- April 11, 2013

Bristol-Myers Squibb (NYSE: BMY) today announced plans for an approximately
$250 million expansion of its large-scale biologics manufacturing facility in
Devens, Massachusetts. The expansion will introduce biologics development and
clinical trial manufacturing capabilities to the site, while adding
approximately 350 employees to the Devens workforce over time.

“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, 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.”

Bristol-Myers Squibb plans to construct two new buildings on its 89-acre
Devens campus. One will be dedicated to Process Development, a group that
designs processes for early production of investigational biologics medicines.
A second building will house Clinical Manufacturing, where investigational
medicines will be produced to support clinical trials. Both represent new
capabilities for Devens, a site that in its early years has focused solely on
large-scale, bulk biologics manufacturing.

“This project represents a significant expansion in both the size and mission
of Devens,” said Peter Moesta, senior vice president, Biologics Manufacturing
and Process Development. “We envision Devens as a center of excellence for the
development and manufacture of biologics medicines, optimally organized to
support our growing pipeline of investigational medicines and potential new
products.”

Together, the two buildings will add approximately 200,000 square feet of
laboratory and office space to the Devens site, which is now comprised of six
major buildings in a 400,000-square-foot complex.

Construction of the Devens site was completed in 2009. It was Bristol-Myers
Squibb’s first major facility in Massachusetts and the largest capital
investment in its history – $750 million – and helped signal the company’s
transformation into a next-generation biopharmaceutical company. The Devens
site also was designed to accommodate future expansion, and the decision to
expand reflects both the initial success of Devens and some of the factors
that first drew Bristol-Myers Squibb to the region. These include 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.

Work on the expansion is expected to begin in late 2013 and be completed in
2015. In the interim, Bristol-Myers Squibb has leased 30,000 square feet of
laboratory space in nearby Hopkinton, Massachusetts, to begin moving some
biologics process development functions closer to Devens during construction.
The company intends to maintain this space until construction is completed.

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, regarding
plans to expand a biologics manufacturing facility that involves substantial
risks and uncertainties.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 expansion of the facility will be completed, or if
completed, will be completed on the timeline described in the release. There
is also no guarantee that the completion of the expanded facility will receive
the required regulatory approvals to accelerate production 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, 2012, 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.

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 about the company, visit
www.bms.com or follow us on Twitter at http://twitter.com/bmsnews.

Contact:

Bristol-Myers Squibb
John Patella, 732-227-6197
john.patella@bms.com
 
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