Bristol-Myers Squibb Expands R&D Presence Within Hubs of World Class Science and Innovation

June 25, 2015

Bristol-Myers Squibb Company today announced important next steps in the evolution of the company's R&D organization, including plans to expand its presence within hubs of scientific excellence.

PRESS RELEASE

PRINCETON, N.J.--(

BUSINESS WIRE

)--

Bristol-Myers Squibb Company

(NYSE:BMY) today announced important next steps in the evolution of the company’s R&D organization, including plans to expand its presence within hubs of scientific excellence and innovation with the opening of a new state-of-the-art research site in Cambridge, Mass. in addition to the ongoing expansion of the company’s R&D Discovery site in the San Francisco Bay Area. The new facility in Cambridge, which will be located at 100 Binney Street in Kendall Square, is expected to open in 2018. The ongoing site expansion in the San Francisco Bay Area adds 61,000 square feet of laboratory and office space at the Woodside Technology Park life science campus and is expected to be completed in 2016. Consistent with evolution of the R&D organization’s strategic focus, which was previously announced in 2013, the company also announced today its plans to discontinue discovery research efforts in virology. This decision does not impact the company’s promising ongoing clinical development program in virology, nor does it impact the company’s marketed products in virology.