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Released May 06, 2016 | SUGAR LAND
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Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--Twenty years ago, the U.S. Army ceased operations at Fort Devens, Massachusetts, and then sold it for $17 million to MassDevelopment, the state's finance and development agency. The base and most of its land were transformed into what is known as a regional enterprise. The investment paid off in a big way in 2006 when the $1 billion "Project Hummingbird" landed in Devens.
That was the code name given to the biopharmaceutical campus Bristol-Myers Squibb (NYSE:BMS) (New York, New York) had shopped throughout the world before choosing Devens. The use of code names during the site selection process to maintain anonymity is a favored practice of the Pharmaceutical-Biotech Industry.
Click here to access the 2016 Pharmaceutical--Biotech Industry North American Outlook.
The $750 million first phase began construction in 2007 and was approved for production by the US Food and Drug Administration (FDA). Phase I focused on large-scale biologics manufacturing, supporting production of ORENCIA (abatacept), the company production of ORENCIA® (abatacept), the company's biologic therapy for rheumatoid arthritis's biologic therapy for rheumatoid arthritis. The $750 million Devens project was Bristol-Myers Squibb's largest capital investment in its history.
Phase II came in the form of a $250 million-$270 million project to add two buildings and 200,000 square feet of space, roughly doubling the built square footage at the site. Launched in 2014, the most recent project added a number of capabilities to the site, including biological drug development and clinical-scale manufacturing.
With Phase II complete, the site now boasts biologic development and manufacturing, a central utility building, an administrative/quality control building and a warehouse/storage structure. Another building houses the site's process waste- water pretreatment plant.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
That was the code name given to the biopharmaceutical campus Bristol-Myers Squibb (NYSE:BMS) (New York, New York) had shopped throughout the world before choosing Devens. The use of code names during the site selection process to maintain anonymity is a favored practice of the Pharmaceutical-Biotech Industry.
Click here to access the 2016 Pharmaceutical--Biotech Industry North American Outlook.
The $750 million first phase began construction in 2007 and was approved for production by the US Food and Drug Administration (FDA). Phase I focused on large-scale biologics manufacturing, supporting production of ORENCIA (abatacept), the company production of ORENCIA® (abatacept), the company's biologic therapy for rheumatoid arthritis's biologic therapy for rheumatoid arthritis. The $750 million Devens project was Bristol-Myers Squibb's largest capital investment in its history.
Phase II came in the form of a $250 million-$270 million project to add two buildings and 200,000 square feet of space, roughly doubling the built square footage at the site. Launched in 2014, the most recent project added a number of capabilities to the site, including biological drug development and clinical-scale manufacturing.
With Phase II complete, the site now boasts biologic development and manufacturing, a central utility building, an administrative/quality control building and a warehouse/storage structure. Another building houses the site's process waste- water pretreatment plant.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
