Bristol-Myers Squibb Company Closing Amylin Pharmaceuticals, Inc.'s San Diego Operations, Cutting Hundreds of Employees

Bristol-Myers Squibb, the drug giant that bought Amylin Pharmaceuticals last summer, plans to shutter its San Diego operations by the end of 2014. The decision closes the books on one of San Diego’s most famous biotech companies, a pioneer in new diabetes therapies. It also means hundreds of employees will be dislocated and hundreds of thousands of square feet of office and lab space will be put on the market. “By the end of 2014, we plan to have all work being done in San Diego transitioned to other Bristol-Myers Squibb sites,” spokesman Frederick Egenolf said by email Tuesday. “Beyond that, we will likely have a small number of people working on closing the San Diego facilities by the end of (March) 2015.” Egenolf said New York City-based Bristol-Myers is closing its San Diego operations to become more efficient, and to eliminate redundant positions.