Friday, May 04, 2007

Big bucks for BMS Project

Construction has finally begun on Bristol-Myers Squibb's (BMS) new biologics manufacturing facility in Massachusetts, with the company upping its original investment estimates for construction from $660m (€485.7m) to $750m.

The project represents the single largest capital investment in the history of the company, according to BMS CEO Jim Cornelius, and is said to reflect the growing role the company believes biologics will play in the future of the company. The firm has previously estimated potential long-term investments in the site to reach as much as $1.1bn.

Despite the $90m jump in the budget, a spokesperson for the company said that there was no single factor responsible for the increase, and the it was always expected that original estimate would fluctuate somewhat once BMS had a better sense of the scope of the project.

Although original plans were for construction of the plant to begin in September last year, in February the company was still confident that its original time scales would still be met, with submission for regulatory approval timed for 2010 and operations at the site beginning in 2011.

The large-scale manufacturing plant in Devens, Massachusetts will be a multi-product bulk facility that is modular in design so as to accommodate any future expansion. The first phase of construction will involve four main buildings, including the manufacturing structure which will house six 20,000-litre cell culture vessels and one purification train. The facilities are due to be operationally complete in 2009.

link to full article

No comments: