Bristol-Myers Squibb to Sell Manufacturing Facility in Swords, Ireland to SK Biotek Co., Ltd.
- $BMY--Bristol-Myers
Squibb Company (NYSE:BMY) and SK
Biotek Co., Ltd. today announced the companies have signed a
definitive purchase agreement to sell Bristol-Myers Squibb’s small
molecule active pharmaceutical ingredient manufacturing facility in
Swords, Ireland, to SK Biotek, a wholly-owned subsidiary of SK
Holdings, based in Seoul, South Korea. The companies intend to
complete the deal by the fourth quarter 2017, at which time SK Biotek
will continue to manufacture the current portfolio of small molecule
pharmaceutical products at the site.
The Swords facility currently manufactures active pharmaceutical ingredients (APIs) for a number of medicines including Bristol-Myers Squibb’s and Pfizer’s Eliquis. Through the years, the site has produced medicines that have helped millions of people in the fight against serious diseases such as cancer, cardiovascular disease, hepatitis, HIV/AIDS and psychiatric disorders. SK Biotek will operate the plant as a stand-alone Contract Development Manufacturing Organization (CDMO), and intends to add marketing, research and development (R&D) talent, and invest in upgrades to bring additional capacity to the site. Bristol-Myers Squibb and SK Biotek will manage a smooth transition to ensure reliable supply for customers and patients.
“This transaction is an important step to achieve our goal of becoming a leading global CDMO.” Junku Park, Ph.D., chief executive officer of SK Biotek, commented, “It allows us to enhance technological and manufacturing capacity and build long-term partnerships with existing and new customers. We have chosen to invest in Ireland because of the welcoming business environment and the exceptionally talented workforce, and we look forward to growing our presence in Swords in the coming years. We are very pleased to welcome the Swords facility to SK Biotek.”
“We value our partnership with SK Biotek and believe today’s agreement will continue the vital role the Swords facility plays for its employees, the community and patients,” said Lou Schmukler, president, Global Product Development & Supply, Bristol-Myers Squibb. “Today’s agreement is an important step in the ongoing evolution of our manufacturing network to support the company’s innovative portfolio. Our continued investment in Ireland is critical for our ability to deliver transformational medicines to patients, both through the increased biologics capabilities we are building in Cruiserath and our ongoing commercial and business presence in Dublin.”
SK Biotek and Bristol-Myers Squibb have an established relationship in pharmaceutical manufacturing and supply. SK Biotek has been a supplier to Bristol-Myers Squibb for 10 years and a key producer of commercial API starting materials and chemical intermediates. With state of the art R&D facilities, multi-purpose manufacturing plants and a deep foundation in manufacturing technologies, SK has provided a high degree of flexibility and quality service to Bristol-Myers Squibb and continues to be a trusted partner from early phase development through to commercial production.
Bristol-Myers Squibb and SK Biotek anticipate that the transaction will close during the fourth quarter of 2017. Closing of the transaction is subject to SK Biotek’s receipt of certain environmental permits in addition to other customary closing conditions. The transaction has been approved by the boards of directors of both companies.
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol-Myers Squibb, visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube and Facebook.
About SK Biotek
SK Biotek is a rapidly growing CDMO in Korea, serving many of the global pharmaceutical companies. SK Biotek is a world leader in continuous flow process from development to commercial manufacturing. SK Biotek is at the core of the SK Group’s plan to further expand its presence in the pharmaceutical industry. For more information, you can visit us at SKbiotek.com.
SK Group is the 3rd largest conglomerate in South Korea with 280 affiliates/branches and over 82,000 employees around the globe with $141 billion of total assets and $121 billion of total revenues in 2015. While the Group’s key businesses are Energy & Chemicals, IT & Semiconductor and Marketing & Services, it has also been making significant investments in the pharmaceutical business for more than 20 years. For more information, visit us at SK.com.
Bristol-Myers Squibb Forward-Looking Statement
This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995 regarding the research, development and commercialization of pharmaceutical products. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. Among other risks, there can be no guarantee that the sale will be completed, or that the expected benefits of the sale will be realized. Forward-looking statements in the press release should be evaluated together with the many uncertainties that affect Bristol-Myers Squibb's business, particularly those identified in the cautionary factors discussion in Bristol-Myers Squibb's Annual Report on Form 10-K for the year ended December 31, 2016, its Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Bristol-Myers Squibb undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
ContactsBristol-Myers Squibb
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Media:
Europe:
Jeff Smith, +33(0)1 58 83 83 21
[email protected]
or
South Korea:
JongHee Kang, +82 10 6435 0724
[email protected]
or
United States:
Lisa McCormick Lavery, +1 609-865-4014
[email protected]
or
Ken Dominski, 609-252-5251
[email protected]
or
Investors:
Tim Power, 609-252-7509
[email protected]
or
Bill Szablewski, 609-252-5894
[email protected]
or
SK Biotek
Media:
NamIn Kim, +82 10 5526 7833
[email protected]
or
Investors:
KyoungMin Lee, +82 10 4929 5904
[email protected]
-
SK Biotek is first Korean company to invest in pharmaceutical
manufacturing in Ireland and anticipates further investment by adding
R&D, marketing and additional manufacturing capabilities -
Bristol-Myers Squibb shifts manufacturing focus in Ireland to
reflect growing biologics portfolio with ongoing investment in
Cruiserath biologics facility
NEW YORK & DAEJEON, South Korea–(BUSINESS WIRE)–$BMY—Bristol-Myers
Squibb Company (NYSE:BMY) and SK
Biotek Co., Ltd. today announced the companies have signed a
definitive purchase agreement to sell Bristol-Myers Squibb’s small
molecule active pharmaceutical ingredient manufacturing facility in
Swords, Ireland, to SK Biotek, a wholly-owned subsidiary of SK
Holdings, based in Seoul, South Korea. The companies intend to
complete the deal by the fourth quarter 2017, at which time SK Biotek
will continue to manufacture the current portfolio of small molecule
pharmaceutical products at the site.
The Swords facility currently manufactures active pharmaceutical
ingredients (APIs) for a number of medicines including Bristol-Myers
Squibb’s and Pfizer’s Eliquis.
Through the years, the site has produced medicines that have helped
millions of people in the fight against serious diseases such as cancer,
cardiovascular disease, hepatitis, HIV/AIDS and psychiatric disorders.
SK Biotek will operate the plant as a stand-alone Contract Development
Manufacturing Organization (CDMO), and intends to add marketing,
research and development (R&D) talent, and invest in upgrades to bring
additional capacity to the site. Bristol-Myers Squibb and SK Biotek will
manage a smooth transition to ensure reliable supply for customers and
patients.
“This transaction is an important step to achieve our goal of becoming a
leading global CDMO.” Junku Park, Ph.D., chief executive officer of SK
Biotek, commented, “It allows us to enhance technological and
manufacturing capacity and build long-term partnerships with existing
and new customers. We have chosen to invest in Ireland because of the
welcoming business environment and the exceptionally talented workforce,
and we look forward to growing our presence in Swords in the coming
years. We are very pleased to welcome the Swords facility to SK Biotek.”
“We value our partnership with SK Biotek and believe today’s agreement
will continue the vital role the Swords facility plays for its
employees, the community and patients,” said Lou Schmukler, president,
Global Product Development & Supply, Bristol-Myers Squibb. “Today’s
agreement is an important step in the ongoing evolution of our
manufacturing network to support the company’s innovative portfolio. Our
continued investment in Ireland is critical for our ability to deliver
transformational medicines to patients, both through the increased
biologics capabilities we are building in Cruiserath and our ongoing
commercial and business presence in Dublin.”
SK Biotek and Bristol-Myers Squibb have an established relationship in
pharmaceutical manufacturing and supply. SK Biotek has been a supplier
to Bristol-Myers Squibb for 10 years and a key producer of commercial
API starting materials and chemical intermediates. With state of the art
R&D facilities, multi-purpose manufacturing plants and a deep foundation
in manufacturing technologies, SK has provided a high degree of
flexibility and quality service to Bristol-Myers Squibb and continues to
be a trusted partner from early phase development through to commercial
production.
Bristol-Myers Squibb and SK Biotek anticipate that the transaction will
close during the fourth quarter of 2017. Closing of the transaction is
subject to SK Biotek’s receipt of certain environmental permits in
addition to other customary closing conditions. The transaction has been
approved by the boards of directors of both companies.
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose mission
is to discover, develop and deliver innovative medicines that help
patients prevail over serious diseases. For more information about
Bristol-Myers Squibb, visit us at BMS.com or
follow us on LinkedIn, Twitter,
YouTube
and Facebook.
About SK Biotek
SK Biotek is a rapidly growing CDMO in Korea, serving many of the global
pharmaceutical companies. SK Biotek is a world leader in continuous flow
process from development to commercial manufacturing. SK Biotek is at
the core of the SK Group’s plan to further expand its presence in the
pharmaceutical industry. For more information, you can visit us at SKbiotek.com.
SK Group is the 3rd largest conglomerate in South Korea with 280
affiliates/branches and over 82,000 employees around the globe with $141
billion of total assets and $121 billion of total revenues in 2015.
While the Group’s key businesses are Energy & Chemicals, IT &
Semiconductor and Marketing & Services, it has also been making
significant investments in the pharmaceutical business for more than 20
years. For more information, visit us at SK.com.
Bristol-Myers Squibb Forward-Looking Statement
This press release contains “forward-looking statements” as that term
is defined in the Private Securities Litigation Reform Act of 1995
regarding the research, development and commercialization of
pharmaceutical products. Such forward-looking statements are based on
current expectations and involve inherent risks and uncertainties,
including factors that could delay, divert or change any of them, and
could cause actual outcomes and results to differ materially from
current expectations. No forward-looking statement can be guaranteed.
Among other risks, there can be no guarantee that the sale will be
completed, or that the expected benefits of the sale will be realized.
Forward-looking statements in the press release should be evaluated
together with the many uncertainties that affect Bristol-Myers Squibb’s
business, particularly those identified in the cautionary factors
discussion in Bristol-Myers Squibb’s Annual Report on Form 10-K for the
year ended December 31, 2016, its Quarterly Reports on Form 10-Q, and
Current Reports on Form 8-K. Bristol-Myers Squibb undertakes no
obligation to publicly update any forward-looking statement, whether as
a result of new information, future events, or otherwise.
Contacts
Bristol-Myers Squibb
Media:
Europe:
Jeff
Smith, +33(0)1 58 83 83 21
[email protected]
or
South
Korea:
JongHee Kang, +82 10 6435 0724
[email protected]
or
United
States:
Lisa McCormick Lavery, +1 609-865-4014
[email protected]
or
Ken
Dominski, 609-252-5251
[email protected]
or
Investors:
Tim
Power, 609-252-7509
[email protected]
or
Bill
Szablewski, 609-252-5894
[email protected]
or
SK
Biotek
Media:
NamIn
Kim, +82 10 5526 7833
[email protected]
or
Investors:
KyoungMin
Lee, +82 10 4929 5904
[email protected]
