Bristol-Myers Squibb Announces Humacao Site Expansion
Company to Invest $165 Million, Create 100 Jobs
HUMACAO, Puerto Rico--Bristol-Myers Squibb Company (NYSE: BMY) today announced a $165 million expansion of its facility in Humacao to add manufacturing capacity that will prepare the plant for the production of additional medicines. The project is expected to create 100 full-time jobs at the facility over time.
"This significant investment in our Humacao facility supports the company's mission of delivering innovative medicines that help patients prevail over serious diseases," said Ricardo Zayas, senior vice president, Pharmaceutical Manufacturing, Bristol-Myers Squibb. "Puerto Rico's highly skilled workforce has contributed significantly to our existing operation and plays an important role in our company's future growth."
The project on the 48.5-acre Humacao campus includes both renovation and new construction encompassing a total of 165,150 square feet. One phase will add 82,000 square feet of new manufacturing space for the planned production of medicines for type 2 diabetes. A second phase involves renovating 83,150 square feet of existing space and equipping it to manufacture new cardiovascular medications.
The project will also introduce a new state-of-the-art pharmaceutical manufacturing technology to Puerto Rico: a novel "active coating" process invented by Bristol-Myers Squibb that delivers the active ingredient into the coating of a tablet.
In addition to investing $165 million in construction and equipment, the company will also add approximately 100 new jobs over time beginning in 2016. These positions include process engineers and operators, scientists, technicians and other skilled workers, and will be phased in as part of a multi-year plan to add manufacturing capacity to meet patient needs.
Construction is expected to begin late this year and be completed in early 2016.
The Humacao expansion is the company's second major investment in Puerto Rico in recent years. In 2009, Bristol-Myers Squibb completed a $200 million project to expand its site in Manati, Puerto Rico, to support the manufacture of biologic medicines.
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information about the company, visit www.bms.com or follow us on Twitter at http://twitter.com/bmsnews.