Bristol-Myers Squibb Company Ups Investment in China R&D and Manufacturing
Published: May 17, 2012
May 16, 2012 -- Announcing two separate strategic China initiatives yesterday, Bristol-Myers Squibb increased its commitment to building its presence in China and its bid for an increased share of the country’s prescription drug market. On the one hand, BMS formed a multi-year strategic partnership with Tsinghua University of Beijing. BMS will underwrite early-stage research to identify new drug targets in oncology and immunoscience. Meanwhile, with a $20 million investment, BMS will expand its manufacturing capacity at its Shanghai site, allowing the company to produce diabetes drugs in China. More details....
Stock Symbol: (NYSE:BMY)