Bristol-Myers Squibb will build new facility in U.S.

Paul V. Arnold, Noria Corporation

Bristol-Myers Squibb Company said Wednesday that it will build its new biologics facility in the United States. At its regularly scheduled meeting on March 7, the company's Board of Directors approved a capital expenditure in the amount of $660 million for the construction of a large-scale multi-product bulk biologics manufacturing facility. The facility will be modular in design in order to accommodate future expansion.