Bristol-Myers Squibb starts construction on new plant

Bristol Myers-Squibb has announced the beginning of construction work on its new biologics manufacturing facility to be built in Devens, Massachusetts.

This week saw a groundbreaking ceremony attended by executives from the firm, together with state and local officials, MassDevelopment, community leaders and local governor Deval Patrick.

With Bristol-Myers Squibb investing $750 million (375 million pounds) into the compound, the site will feature a modular design to accommodate further expansion in the future.

According to construction plans, the plant aims to be operationally complete by 2009, with filings for regulatory approval made a year later. The first phase of the plant will employ a workforce of 350, with this number rising to 550 following possible expansion.

Carlo De Notaristefani, president of technical operations at Bristol-Myers Squibb, said: “We selected this site based on a number of factors, including the abundance of biotechnology knowledge, education and training in the Boston area that has created a large and well-qualified workforce.”

He added that the company was looking forward to integrating itself into the community and having a successful future in Devens.

In March 2007, Bristol-Myers Squibb announced that it planned to relocate $25 billion of its assets from Ireland amid reports that the country had become less competitive for business.