Bristol-Myers Squibb Strengthens Capabilities with Evolution of its U.S. Geographic Footprint

NEW YORK–(BUSINESS WIRE)– Bristol-Myers
Squibb Company (NYSE:BMY) today announced important changes to its
U.S. geographic footprint that will strengthen capabilities of the
company’s R&D hubs of world-class science and innovation in Central New
Jersey, the San Francisco Bay Area and Cambridge, Massachusetts while
further integrating biologics development with clinical manufacturing at
key sites to foster greater speed and collaboration. The changes are
consistent with the evolution of the company’s operating model, and
follows previously announced investments to modernize workspace with the
development of a state-of-the-art research facility in Cambridge, the
expansion of its Redwood City research campus in the San Francisco Bay
Area and recently opened Princeton Pike facility in Lawrenceville, New
Jersey.

Bristol-Myers Squibb will make investments in the construction of a new
R&D building at the company’s Lawrenceville, New Jersey campus that will
co-locate lab-based Discovery and Translational Medicine activities,
construction at its New Brunswick, New Jersey facility to support
biologics development, and construction to continue expansion of its
biologics campus in Devens, Massachusetts. The company also announced it
intends to initiate a phased multi-year closure of its Hopewell, New
Jersey site by mid-2020 and will not renew its lease at the Lake Union
Steam Plant site in Seattle, Washington in 2019. The company confirmed
previously announced plans to close its Wallingford, Connecticut site by
the end of 2018, and also announced it will no longer build a
Connecticut Development site. The company expects many of the roles from
Wallingford, Hopewell and Seattle will transition to other U.S.
locations.

“These important changes to our U.S. geographic footprint will ensure we
have the structural, operational and financial flexibility to deliver as
effectively as possible on our mission for patients,” said Giovanni
Caforio, M.D, chief executive officer, Bristol-Myers Squibb.
“Today’s announcement underscores our commitment to make the right
investments to continue to deliver on the promise of our pipeline and to
bring transformational medicines to patients, today and in the future.”

In October, 2016, Bristol-Myers Squibb announced an evolution of its
operating model to drive the company’s continued success in the near and
long term through a more focused investment in commercial opportunities
against key brands and markets, a competitive and more agile R&D
organization that can accelerate the pipeline, streamlined operations
and realigned manufacturing capabilities that broaden biologics
capabilities to reflect its current and future portfolio.

About Bristol-Myers Squibb

Bristol-Myers Squibb is a global biopharmaceutical company whose mission
is to discover, develop and deliver innovative medicines that help
patients prevail over serious diseases. For more information about
Bristol-Myers Squibb, visit us at BMS.com
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Bristol-Myers Squibb Forward-Looking Statement

This press release contains “forward-looking statements” as that term
is defined in the Private Securities Litigation Reform Act of 1995
regarding the research, development and commercialization of
pharmaceutical products. Such forward-looking statements are based on
current expectations and involve inherent risks and uncertainties,
including factors that could delay, divert or change any of them, and
could cause actual outcomes and results to differ materially from
current expectations. No forward-looking statement can be guaranteed.
Forward-looking statements in this press release should be evaluated
together with the many uncertainties that affect Bristol-Myers Squibb’s
business, particularly those identified in the cautionary factors
discussion in Bristol-Myers Squibb’s Annual Report on Form 10-K for the
year ended December 31, 2014 in our Quarterly Reports on Form 10-Q and
our Current Reports on Form 8-K. Bristol-Myers Squibb undertakes no
obligation to publicly update any forward-looking statement, whether as
a result of new information, future events or otherwise.

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