Bristol Myers expands footprint in India with drug development and IT center
Pharma giant Bristol Myers Squibb will expand its footprint in Hyderabad, India, with a life sciences hub that will focus on IT and drug development. It’s expected to be operational by the middle of 2023.
The company will invest about $100 million into the center and will employ around 1,500 people, according to local news sites. The exact location of the center in the region is unknown.
“We anticipate that the full development of this site will take place over the next few years,” a BMS spokesperson told Endpoints News. “We are still in the early phases of planning but are confident this expansion will further position BMS’s efforts to accelerate drug development, bolster internal digital innovation capacity and advance our commitment to being a more global company.”
Hyderabad is the capital and largest city of the Indian state of Telangana.
KT Rama Rao, a politician in the state, said during a ceremony held for the announcement that BMS chose the site because of local infrastructure, resources and manpower, according to reporting from the Telangana Times.
“I am confident that the center will provide a great opportunity for our talent pool to engage in some highly impactful work,” Rao said.
The state of Telangana has set a goal of doubling the life sciences value in the region from $50 billion to $100 billion by 2030, according to local reporting.
BMS and Syngene International already have a site in Bangalore that has been operating since 2009 with a focus on “target identification, lead discovery and lead optimization all the way through to early stage pharmaceutical development and clinical biomarkers R&D,” according to the company’s website.