Bristol Myers Squibb to invest Rs 800 crore in setting up research & development facility in Telangana

23 Feb 2023 , 02:40 AM

Bristol Myers Squibb, the world’s leading biopharmaceutical company, will invest Rs 800 crore in establishing a state-of-the-art site in Hyderabad to expand its global drug development and IT capabilities, according to a Telangana government press release on Thursday.

The announcement came following a meeting between Telangana Minister KT Rama Rao and Samit Hirawat, Executive Vice-President, Global Drug Development at BMS, who is in town for BioAsia 2023.

According to a BMS release, the company intends to begin operations in Hyderabad later in 2023, with the potential to employ approximately 1,500 people over the next few years in cutting-edge R&D and digital activities.

Expressing his delight, Rama Rao stated that he welcomes Bristol Myers Squibb to Hyderabad’s thriving ecosystem. He takes great pride in the fact that BMS, one of the most innovative and globally renowned biopharmaceutical companies, has selected Hyderabad for this collaboration. He believes that this partnership with BMS is a strategic move.

Samit Hirawat, BMS sees the Hyderabad facility as a strategic, long-term investment and is eagerly anticipating the commencement of operations later this year.

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