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Bristol-Myers to invest $2.3B in Houston plant as it expands U.S. footprint
The Houston campus, about 600,000 square feet, is expected to produce small-molecule medicines and biologics, creating roughly 500 skilled jobs and about 2,000 construction jobs from 2027 to 2030.
Bristol-Myers Squibb is set to spend about $2.3 billion on a new plant in Houston, part of a broader $40 billion U.S. investment pledge, according to Yahoo Finance. The company said the project was announced on August 10.
The new campus is expected to cover about 600,000 square feet and produce a range of therapies, including small-molecule medicines, more complex biologics, and antibody-drug conjugates. Bristol-Myers also expects close to 500 skilled jobs and about 2,000 construction jobs between 2027 and 2030.
The report links the timing to a wider push by drugmakers to build more manufacturing in the U.S. as tariff pressure increases. Texas is also expected to sweeten the deal with $4.89 million in state funding.
At the same time, the story notes the investment does not directly resolve Bristol-Myers' looming patent cliff, with two major products, Eliquis and Opdivo, set to lose patent protection soon. The outlet also points out that rival Eli Lilly received UK regulatory clearance for its weight-loss pill Foundayo for weight management and type 2 diabetes, with the UK described as the first country in Europe to approve the drug.