Bristol-Myers outlines a big R&D overhaul covering East, West Coast operations
Just six weeks after Bristol-Myers Squibb $BMY began a company-wide revamp in the wake of a brutal setback on the immuno-oncology front, the big biotech is back with plans to overhaul its R&D structure, shuttering facilities while adding new ones in New Jersey and Massachusetts.
The Hopewell, NJ site — a sprawling 433-acre campus with more than a million square feet of space — will be closed by 2020, says Bristol-Myers, while the Lake Union Steam Plant site in Seattle will close shop in 2019. Bristol-Myers has already said it will close operations in Wallingford, CT next year, where 800 staffers work, but it’s also decided to scrap plans for growth in the state as well.
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