New York-based Bristol-Myers Squibb and Biocon subsidiary Sygene International celebrated the opening of a a new research and development facility for BMS at the Biocon Park in Bangalore, India on Monday. Construction on the 200,000 square foot facility began in March 2007. It is now occupied by 270 researchers working to advance BMS' drug discovery and development work. The facility will house 360 researchers by year's end and could host as many as 450 employees in the future, according to a joint statement.
BMS has been outsourcing research to Syngene for the last 12 years. In 2007, BMS and Syngene inked a deal to develop integrated drug discovery and development capabilities in medical chemistry, biology, drug metabolism and pharmaceutical research at Syngene, India's Economic Times reports. Now that the new research facility is complete, Syngene will recruit the talent and manage the research at the site. According to ET, Syngene will charge BMS annual per scientist research fees.
- view the joint release
- read the Economic Times report