Bristol-Myers Squibb to Invest $200 Million in Expansion of Puerto Rico Manufacturing Site

San Juan, Puerto Rico - Bristol-Myers Squibb Company announced recently that it will invest $200 million to expand the company's Manati, Puerto Rico facility. The expansion, targeted for start-up in 2009, will add 100,000 square feet of new space and renovate an additional 30,000 square feet of existing space for the filling and finishing of the company's sterile products and biologic compounds, including ORENCIA® (abatacept), and investigational compounds.

"Biologics represent a key growth driver for Bristol-Myers Squibb in the coming years, and we are excited about the potential therapies we are developing in this area of medicine, including investigational compounds for the treatment of certain cancers and solid organ transplant rejection. Our manufacturing strategy involves a combination of expanding our own internal biologic production capacity, coupled with strategic partnerships with third party suppliers," said Carlo de Notaristefani, President, Technical Operations, Bristol-Myers Squibb.

"The investment in Manati will build on the site's existing technical strength and experience in biologics, and demonstrates Bristol-Myers Squibb's commitment to increasing our in-house sterile manufacturing capacity as well as to the local community," said de Notaristefani.

In addition to ORENCIA, the site currently manufactures products such as Coumadin® (warfarin sodium tablets, USP), Sustiva® (efavirenz) and Cardiolite® (kit for the preparation of Technetium Tc99m Sestamibi for injection).

Bristol-Myers Squibb is a global pharmaceutical and related health care products company whose mission is to extend and enhance human life.

SOURCE: Bristol-Myers Squibb