Bristol Myers Squibb to establish facility in Hyderabad
The Centre will take shape by the end of the third quarter this year. This is part of the company's plans to expand its drug development and IT and digital innovation capabilities.
Hyderabad: Asserting Hyderabad‘s standing as a lifesciences hub, US-based Bristol Myers Squibb, one of the world’s top biopharmaceutical firms, has chosen Hyderabad to set up its Science, Technology and Innovation Centre. It will invest $100 million (about Rs 820 crore) and will employ 1,500 people.
The Centre will take shape by the end of the third quarter this year. This is part of the company’s plans to expand its drug development and IT and digital innovation capabilities.
“I am delighted to welcome Bristol-Myers Squibb to the vibrant ecosystem of Hyderabad. It is indeed a matter of pride that BMS, which is one of the most innovative and world leading biopharmaceutical
companies, has chosen Hyderabad. I strongly believe this partnership with BMS is a strategic one. I am confident that the centre will provide a great opportunity for our talent pool to engage in some highly impactful work,” IT and Industries Minister KT Rama Rao said at the MoU ceremony here on Thursday.
He said the company chose Hyderabad after seeing the infrastructure, resources
and manpower available here. He also pitched the upcoming Pharma City to the company to consider setting up a manufacturing unit as well in Telangana.
Pharma City had environmental clearances for the entire cluster and this would quicken the processes. This will save about 18 months for the companies as that is the time normally it takes for greenfield companies to get the required clearances, he said.
The State initially set a target to double the life sciences value from $50 billion to $100 billion by 2030. Going by the momentum in the sector, the schedule is advanced to 2028, Rama Rao said, adding that the target could be achieved even earlier than 2028.
The exact location of the proposed Science, Technology and Innovation Centre proposed by Bristol Meyers will be finalised in the days to come. This is their first centre in India. In Hyderabad, BMS will be engaged in cutting-edge R&D and digital activities. The BMS Hyderabad site will further expand their global footprint and draw on the dynamic scientific and technology talent in the region.
“The Hyderabad site is a long-term strategic investment for BMS and we look forward to commencing operations later this year. We are excited about the opportunity to diversify our company globally. This will
position us to further accelerate our drug development, bolster our digital innovation capabilities, and advance BMS’s mission to
discover, develop and deliver innovative medicines that help patients,” said Dr Samit Hirawat, Executive Vice President, Chief Medical Officer, Global Drug Development at BMS.
IT and Industries Principal Secretary Jayesh Ranjan and Telangana Life Sciences CEO Shakthi M Nagappan were also present.
