Published Feb 23, 2023 | 2:46 PM ⚊ Updated Feb 23, 2023 | 2:46 PM
KTR speaking during the event organised to sign an agreement between Telangana government and Bristol Myers Squibb. (KTRBRS/Twitter)
Bristol Myers Squibb (BMS), one of the world’s leading biopharmaceutical companies, is set to establish a state-of-the-art facility in Hyderabad in a move to expand its global drug development and IT capabilities.
An agreement to this effect was signed by the Telangana government and BMS on Thursday, 23 February, in the presence of Industries and IT Minister KT Rama Rao.
The company plans to begin operations in Hyderabad later in 2023, with the potential to generate 1,500 jobs in the next few years. It will be engaged in cutting-edge R&D and digital activities with an approximate investment of ₹800 crore.
The BMS Hyderabad site will support its pursuit of therapies at the forefront of scientific discovery with the goal of bringing in a new generation of life-changing treatments to patients.
Global Pharmaceutical giant Bristol Myers Squibb to set up a state-of-the-art facility in Hyderabad with an investment of USD 100 Million. The proposed facility in Telangana will employ about 1,500 local youth. pic.twitter.com/Gc5PhF5yT6
— KTR, Former Minister (@MinisterKTR) February 23, 2023
Specifically, the new site will further expand BMS’s global footprint and draw on the dynamic science and technology talent in the region.
The announcement was made after KT Rama Rao had a meeting with BMS MD, Executive Vice President and Chief Medical Officer of Global Drug Development Dr Samit Hirawata, who is in Hyderabad to participate in the 20th edition of the annual international convention, BioAsia 2023.
Senior Government officials — Principal Secretary Jayesh Ranjan, and CEO of Telangana Life Sciences Shakthi M Nagappan — were present at the meeting.
Speaking after the meeting, KTR said, “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 biopharmaceutical companies, has chosen Hyderabad and I strongly believe this partnership with BMS is a strategic one. I am confident that the centre will engage in cutting-edge R&D and digital work and will provide a great opportunity for our extraordinary talent pool to engage in some highly impactful work.”
The industries minister said that it was heartening to note that Hyderabad has emerged as the hub for Bio-Technology and IT sectors, adding that excellent human resources are available in Hyderabad and Bristol Myers could tap the talent pool.
He urged Bristol Myers to set up a manufacturing facility as, according to him, Hyderabad has been growing in the biotechnology and life sciences sectors.
“The agreement that the Telangana government had signed with Bristol Myers was in consonance with our aim to double the value of the life sciences ecosystem by 2028,” he said.
The minister explained to Bristol Myers, how easy it would be for them to start their operations in Hyderabad as the Pharma-city has all the clearances.
Dr Samit Hirawat said, “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. Our new BMS site in Hyderabad will also create significant employment and economic opportunities locally as we continue to grow our presence in the years ahead.”
Bristol Myers Squibb is headquartered in New York City, USA and is consistently ranked on the Fortune 500 list of the largest US corporations. In 2022, BMS was recognised among the top 100 Best Workplaces for Innovators by Fast Company, a press release from the company said.
