 "drug makers, pharma, pharma sector, pharma industry")
US-based global drug maker Bristol Myers Squibb on Monday announced the opening of a new innovation hub worth $100 million in Hyderabad.
“The state-of-the-art site will expand the company’s global drug development and IT & digital capabilities and is expected to be home to over 1,500 employees,” the company said in its release.
Speaking on the opening of the facility, Christopher Boerner, Chief Executive Officer (CEO), Bristol Myers Squibb, said that the new innovation hub in Hyderabad will accelerate drug development and enhance the company’s digital capabilities.
“This investment also enables us to further diversify our global workforce by adding world-class local talent and strengthening our ability to positively impact patients everywhere,” he added.
Headquartered in New Jersey, Bristol Myers Squibb is one of the world’s largest drug makers with revenues of $45 billion in 2023, making it among a slew of large pharma companies who are setting up their innovation hubs in India to service their global corporate and research and development operations.
While this is the company’s first such facility in India, it also runs a research and facilitation centre in partnership with Syngene International, a Biocon-group company in Bengaluru. The company has its local headquarters in Mumbai.
The company’s primary area of focus is on drugs for cancer and cardiovascular treatment, along with immunology and fibrotic therapeutic projects.
