HYDERABAD: Bristol Myers Squibb, a global biopharmaceutical company, on Monday announced the official opening of its $100 mn new facility here.

A release from the firm said the state-of-the-art site will expand the company’s global drug development and IT and digital capabilities and is expected to be home to over 1,500 employees. The new site expands Bristol Myers Squibb’s global footprint and will serve as an innovation hub, as the company writes the next chapter in its history. The company has invested over $100 million in the creation of this cutting-edge facility, it said.

The facility was officially opened in the presence of Telangana Minister for Industries D Sridhar Babu, Christopher Boerner, Chief Executive Officer, Bristol Myers Squibb and Greg Meyers, Chief Digital and Technology Officer, Bristol Myers Squibb, among others.

Babu said ‘’This marks an important milestone and investment in our vibrant community, offering opportunities for our rich talent pool here to work at the forefront of science and innovation.”

Boerner said, “Our new innovation hub in Hyderabad will accelerate drug development and enhance our digital capabilities. This investment also enables us to further diversify our global workforce by adding world-class local talent and strengthening our ability to positively impact patients everywhere.”