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Bristol-Myers Squibb to construct R&D facility, shutter 3 sites

Bristol-Myers Squibb Co. will invest in the construction of a new research and development building at the company's Lawrenceville, N.J., campus. The company said the new facility will co-locate lab-based Discovery and Translational Medicine activities.

In addition, construction at the company's New Brunswick, N.J., facility will support biologics development, and further construction will expand its biologics campus in Devens, Mass.

The drugmaker plans to close its Hopewell, N.J., site by mid-2020, and will not renew the lease at its Lake Union Steam Plant site in Seattle in 2019. In addition to closing its Wallingford, Conn., site by 2018, the company also scrapped plans to build a Connecticut development site. Bristol-Myers said it expects many of the roles from Wallingford, Hopewell and Seattle will transition to other U.S. locations.