Bristol-Myers Squibb Company is to build a new biologics manufacturing facility in Cruiserath, Dublin.

The facility will produce multiple therapies for the company's growing biologics portfolio. Once completed, the new facility will significantly increase Bristol-Myers Squibb's biologics manufacturing capacity and play a central role in its global manufacturing network.

"Our investment in this new facility reflects the strength of our business and the increasingly important role that biologic medicines will play in Bristol-Myers Squibb's future," said Lamberto Andreotti, Chief Executive Officer of Bristol-Myers Squibb. "For 50 years, Bristol-Myers Squibb has maintained a significant manufacturing presence in Ireland, and we look forward to building on that legacy through this significant expansion of our manufacturing capability."

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The 30,000 sq m project will house six 15,000-liter bioreactors and a purification area as well as office and laboratory space. The plant will be built on the grounds of the company's existing bulk pharmaceutical manufacturing plant.

Bristol-Myers Squibb's Board of Directors has approved initial funding that will support the first phase of the project. The full cost of the facility, expected to be finalised in the second half of 2015, is anticipated to be comparable to the approximately $900m investment to construct and operationalise the company's biologics manufacturing facility in Devens, Massachusetts.

(CD/JP)