BackBristol-Myers to set up R&D unit in Bangalore
Bristol-Myers to set up R&D unit in Bangalore
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US drug maker Bristol-Myers Squibb is setting up a research and development facility in Bangalore to support global research.
The facility will employ 400 scientists and focus on some of the 10 key therapeutic areas that the company is researching at present.
Bristol is developing 40 new drug compounds at six existing R&D facilities in the US, Belgium and Japan. “The expected level of R&D spending for the India facility cannot be disclosed for competitive reasons," Bristol’s regional director Stephen Haynes wrote in an email.
Bristol’s global research projects are housed under its Pharmaceutical Research Institute, which has about 7,200 employees.
The Institute is currently focusing on cancer, atherosclerosis/thrombosis, diabetes, obesity, psychiatric disorders, Alzheimer’s disease, hepatitis, HIV/AIDS, rheumatoid arthritis and solid organ transplantation.
Bristol entered the Indian market in 2006 with two new drugs, Baraclude and Sprycel. Bristol also has a collaboration with Bangalore-based Biocon Ltd and Accenture, to help its discovery and early drug development in India.
Haynes wrote that his company would invest more than $300 million (Rs1,320 crore) in the collaborative project (with Biocon and Accenture) over the next eight years. The company’s R&D spending globally is $2.5 billion, about 12% of its revenue.
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