HYDERABAD: Global pharmaceutical giant, Bristol Myers Squibb (BMS) on Thursday announced that it will establish a state-of-the-art facility in Hyderabad to expand it global drug development and IT capabilities with an investment of $100 million (approximately Rs 825 crore).
The firm plans to begin its operations in Hyderabad in the second half of 2023 and employ approximately 1,500 people. According to a press release issued by the company, the site will support BMS’ pursuit of therapies at the forefront of scientific discovery with the goal of bringing an exciting new generation of life-changing treatments to patients. Specifically, the new site will further expand their global footprint and draw on the dynamic scientific and technology talent in the region, it added.
Bristol-Myers Squibb is headquartered in New York and consistently features on the Fortune 500 list of the largest US corporations. Commenting on the announcement, IT & Industries Minister KT Rama Rao said: “I am delighted to welcome Bristol-Myers Squibb to the vibrant ecosystem of Hyderabad. It is indeed a matter of pride that BMS, which is one of the most innovative and world-leading pharmaceutical companies, has chosen Hyderabad and I strongly believe this partnership with BMS is a strategic one. I am confident that the centre will engage in cutting-edge R&D and digital work and will provide a great opportunity for our extraordinary talent pool to engage in some highly impactful work.”
Samit Hirawat, Chief Medical Officer, Global Drug Development, BMS, said: “The Hyderabad site is a long-term strategic investment for BMS and we look forward to commencing operations later this year. We are excited about the opportunity to diversify our company globally, which will position us to further accelerate our drug development, and advance BMS’ mission to discover, develop and deliver innovative medicines that help patients prevail over serious diseases.”