Bristol-Myers Spending $61 Million for East Syracuse Biotech Expansion

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Bristol-Myers Squibb Company (NYSE: BMS) (New York, New York) is proceeding with the initial phase of a plan to expand its Center for Biotechnology Development in East Syracuse, New York. Phase I of the proposal represents an investment of $61 million for new buildings and equipment at the site for the expansion of chemical and biotechnology development capacity.

The investment will support the manufacture of clinical drug supplies for auto-immune diseases and cancer. Currently, the East Syracuse site provides large volume fermentation manufacturing, chemical and biotechnology development laboratories, pilot -scale manufacturing, and pharmaceutical research laboratories. The company has operated at the 90-acre site for 60 years.

With a current East Syracuse workforce of 750 employees, Bristol-Myers Squibb anticipates requiring an additional 60 people when the expansion is complete. If the company proceeds with Phase II and Phase III of the plan, it could result in over 250 new jobs and a total investment of more than $300 million. Bristol-Myers Squibb has three major facilities in New York State, including its New York City headquarters, a manufacturing plant in Buffalo and the East Syracuse facility.

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