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Bristol-Myers Squibb Company (BMY) Inks $300 Million Deal with Biocon and Accenture


3/14/2007 10:39:57 AM

BANGALORE, India, March 14, 2007 -- Bristol-Myers Squibb Company (NYSE: BMY) today announced the company is expanding its research and development (R&D) capabilities in India. The increase is an integral part of the company’s overall R&D global strategy of accessing top-talent around the world in support of its goal of achieving sustainable, cost-effective growth.

Bristol-Myers Squibb will significantly increase the scope of its existing relationship with Biocon Limited to further develop integrated capabilities in India in medicinal chemistry, biology, drug metabolism, and pharmaceutical development. Under the terms of the agreement Biocon, through its subsidiary Syngene International, will work with Bristol-Myers Squibb to establish a research facility in Bangalore that could ultimately house more than 400 scientists to help advance Bristol-Myers Squibb’s discovery and early drug development.

In a separate multi-year agreement, Bristol-Myers Squibb will expand its relationship with Accenture to include support for clinical data and document management, pharmacovigilance, and scientific writing functions in India. Accenture will also provide maintenance and support for R&D information systems. Bristol-Myers Squibb will utilize Accenture’s well-established Life Science Centers for Excellence in Bangalore and Chennai, which follow industry accepted operational practices and international standards in the clinical area.

“This broad expansion of R&D in India will allow us to grow competively while maintaining our industry-leading position in productivity and innovation,” said Elliott Sigal, M.D., Ph.D., executive vice president, Bristol-Myers Squibb, and chief scientific officer, president, Pharmaceutical Research Institute. “Working with Biocon and Accenture, two well-respected and valued partners, Bristol-Myers Squibb will continue to access world-class talent to deliver and grow our robust product pipeline.”

“We are delighted to announce this one-of-a-kind discovery research partnership with Bristol-Myers Squibb, a recognized global healthcare leader,” said Kiran Mazumdar-Shaw, chairman and managing director, Biocon Limited. “The new research facility marks a significant step forward in Biocon and Syngene’s evolution as a valuable partner to the global pharmaceutical industry.”

“As the industry continues to face increased pressure to deliver new product innovations efficiently, leading companies are rethinking R&D operating models for sustained growth and productivity,” said Jonathan Lange, a partner in Accenture’s Health & Life Sciences practice and global lead for the company’s Clinical Services offering. “Through our R&D Centers of Excellence, we are building assets and a collaborative working model that will fuel high performance for Bristol-Myers Squibb’s R&D efforts.”

Representatives from Bristol-Myers Squibb and Biocon will offer remarks during a groundbreaking ceremony of the new research facility at Biocon Park in Bangalore on Wednesday, March 21.

About Bristol-Myers Squibb

Bristol-Myers Squibb is a global pharmaceutical and related health care products company whose mission is to extend and enhance human life.

Bristol-Myers Squibb Forward-Looking Statement

This press release contains certain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995 regarding plans to construct a biologics manufacturing facility that involves substantial risks and uncertainties. Specifically, there can be no guarantee that the collaborations will be successful in supporting the company’s expected goals, such as the achievement of sustainable, cost-effective growth. A further list and description of risks and uncertainties can be found in the Bristol-Myers Squibb's Annual Report on Form 10-K for the fiscal year ended December 31, 2005, and in its reports on Form 10-Q and Form 8-K. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

About Biocon Limited

Established in 1978, Biocon Limited is India’s premier biotechnology company. Biocon and its two subsidiary companies, Syngene International Pvt. Ltd. and Clinigene International Pvt. Ltd. together with its Joint Venture Company Biocon Biopharmaceuticals Pvt. Ltd form a fully integrated biotechnology company, specializing in biopharmaceuticals, custom research, clinical research and enzymes. With successful initiatives in clinical development, bioprocessing and global marketing, Biocon delivers products and solutions to partners and customers across 50 countries. Visit us at www.biocon.com.

About Accenture

Accenture is a global management consulting, technology services and outsourcing company. Committed to delivering innovation, Accenture collaborates with its clients to help them become high-performance businesses and governments. With deep industry and business process expertise, broad global resources and a proven track record, Accenture can mobilize the right people, skills, and technologies to help clients improve their performance. With approximately 146,000 people in 49 countries, the company generated net revenues of US$16.65 billion for the fiscal year ended Aug. 31, 2006. Its home page is www.accenture.com.

CONTACT: Bristol-Myers Squibb - (Media) Stephen Haynes, (65) 90188314, stephen.haynes@bms.com; Eric Miller, +1 (609) 252-7981, eric.miller@bms.com; or (Investors) John Elicker, +1 (212) 546-3775, john.elicker@bms.com

Biocon Limited - Paula Sengupta, +91 80 2808 2808, paula.sengupta@biocon.com; Manjulakshmi/Guna Shekar, Broadeur India PR, +91 80 4126 5354, mpanicker@brodeurindia.com, vguna@brodeurindia.com

Accenture - Stacey Jones, +1 (917) 452-6561, stacey.jones@accenture.com; Marykate Reese, +1 (917) 452-8738, marykate.reese@accenture.com

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