Bristol-Myers Squibb (BMS) has announced plans to build a $660 million biologics manufacturing facility in the U.S.
The company did not disclose the location, but sites in several states are under consideration. The plant will manufacture bulk biologics for multiple products, the company said. The facility will be modular in design to accommodate future expansion.
The announcement follows the FDA's approval of BMS' rheumatoid arthritis biologic Orencia (abatacept) in December 2005. Analysts expect the product -- the company's first internally developed biologic -- to achieve sales of more than $1 billion by 2010.