1.3.23 - Bristol Myers Squibb Completes Sale of Manufacturing Facility in Syracuse, New York
' Bristol Myers Squibb (NYSE: BMY) has completed the previously announced sale of its manufacturing facility in Syracuse, New York to LOTTE BIOLOGICS.
The divestiture is part of Bristol Myers Squibb’s ongoing evolution of its manufacturing network
to support its product portfolio. As part of the transaction, LOTTE BIOLOGICS has offered all employees
at the site employment within its business. Additionally, LOTTE BIOLOGICS has acquired the Syracuse
site’s operations and assets, which includes the property, plant and equipment. Bristol Myers Squibb
has entered into a newly established contract manufacturing organization (CMO) relationship with
LOTTE, under which LOTTE BIOLOGICS will manufacture product for Bristol Myers Squibb at the
Syracuse facility. '