14 BRISTOL-MYERS SQUIBB
BMS OPENS EXPANDED BIOLOGICS FACILITY
$280 Million Project Increases Workforce, Adds New Capabilities
In May 2016, BMS completed a major expansion at its Devens, MA biologics facility
designed to accelerate development of the company’s growing portfolio of biologics.
The $280 million project adds two new buildings to the 89-acre Devens campus: a Biologics Development Building for designing processes for the early production of investigational medicines, and
a Clinical Manufacturing Building where investigational medicines will be produced to support clinical
trials. Both are new capabilities for Devens, a site that had previously focused solely on large-scale,
bulk biologics manufacturing.
The expansion increases the site’s workforce, with approximately 200 new jobs having been added at the project’s initial completion
rising to approximately 350 jobs over time. The two new buildings also add approximately 200,000 square feet to a site now comprised
of eight major buildings in a 600,000 square-foot complex. In addition, the buildings add to the major investment the company has made
at Devens, a former military base. When combined with the company’s initial $750 million investment to build the facility, the expansion
project brings the company’s total investment at the site to more than $1 billion.
company reported declines for all of its products, including its
Hepatitis C franchise, its hepatitis B drug Baraclude, and its HIV
drugs Reyataz and Sustiva.
The Immuno-Science segment, which includes Orencia,
contributed nearly 12% of the company’s total revenue in 2016,
driven by a 20% increase in Orencia sales to $2.3 billion compared to 2015.
The Cardiovascular segment, represented by the drug Eliquis,
contributed 17% of BMS’s total revenue in 2016. Eliquis sales
soared 80% to $3.3 billion in 2016, compared to $1.9 billion in
2015, due to wide use and the strength of its prescription trends.
The Neuroscience segment, represented by the drug Abilify,
reported a drop of 83% in Abilify revenue to $128 million following competition launched during the year.
Also, the Matured Products segment and all other products showed a 17% drop in revenue to $2.1 billion due to
In 2016, BMS received 19 approvals for new medicines and
additional indications and formulations of currently marketed
medicines in major markets—the U.S., EU and Japan—as well
as multiple regulatory milestone achievements for Opdivo. BMS
also said it encountered a significant setback in first-line lung
cancer with the announcement of negative results of Check-
Mate-026. As a result, BMS did not pursue an accelerated regulatory pathway for the Opdivo+Yervoy combination therapy in
first-line lung cancer, but BMS is still pursuing a broad program
in this area encompassing combinations of Opdivo+Yervoy, Opdivo and chemotherapy, and Opdivo combined with Yervoy and
ACQUISITIONS AND PARTNERSHIPS
BMS made several acquisitions and entered licensing transactions to focus resources on growth opportunities that drive the
greatest long-term value. BMS is focused on the following core
therapeutic areas: oncology, including IO, immunoscience, cardiovascular and fibrotic diseases. Significant transactions from
2016 are summarized below.
In December, BMS and Nitto Denko entered into an ex-
clusive worldwide license agreement granting BMS the right
to develop and commercialize Nitto Denko’s investigational
siRNA molecules targeting HSP47 in vitamin A contain-
ing formulations, which includes Nitto Denko’s lead asset
ND-L02-s0201, currently in a Phase Ib study for the treatment
of advanced liver fibrosis.
The agreement also grants BMS the option to receive exclusive licenses for HSP47 siRNAs in vitamin A containing formulations for the treatment of lung fibrosis and other organ fibrosis.
In July 2016, BMS acquired all of the outstanding shares of
Cormorant, a private pharmaceutical company focused on the
development of therapies for cancer and rare diseases. The acquisition provides BMS with full rights to Cormorant’s lead candidate HuMax-IL8, a Phase I/II monoclonal antibody that represents a potentially complementary IO mechanism of action to
T-cell directed antibodies and co-stimulatory molecules.
In April 2016, BMS acquired all of the outstanding shares of
Padlock, a private biotechnology company dedicated to creating new medicines to treat destructive autoimmune diseases.
The acquisition provides BMS with full rights to Padlock’s PAD
inhibitor discovery program focused on the development of
potentially transformational treatment approaches for patients
with rheumatoid arthritis. Padlock’s PAD discovery program may
have additional utility in treating systemic lupus erythematosus
and other autoimmune diseases.
In February 2016, BMS and Pfizer entered into a collaboration
and license agreement with Portola to develop and commercialize the investigational agent andexanet alfa in Japan. Andexanet
alfa is designed to reverse the anticoagulant activity of Factor Xa
inhibitors, including Eliquis. BMS and Pfizer are responsible for
all development and regulatory activities for andexanet alfa in
Japan and for exclusively commercializing the agent in Japan.
Portola retains the rights to andexanet alfa outside of Japan and
will be responsible for the manufacturing supply.
In addition to the above transactions, BMS provided notice of
terminations to the California Institute for Biomedical Research
pertaining to a research collaboration agreement for the development of anti-fibrotic preclinical compounds and Dual Therapeutics pertaining to a research collaboration agreement for the
development of anti-cancer preclinical compounds. CP