Bristol-Myers Squibb Appoints Christopher Perley as Devens General Manager

October 2, 2008 8:00 AM EDT

DEVENS, Mass.--(BUSINESS WIRE)--

Bristol-Myers Squibb Company (NYSE: BMY) today announced that Christopher Perley has been named vice president and general manager of its Devens biologics manufacturing facility. In this role, Perley will be responsible for continuing the supervision of the project to build the Devens facility and will have overall management responsibility for the site and facility when it becomes operational in 2011.

"With an approved capital expenditure of $750 million, the Devens facility represents the largest capital investment in the history of Bristol-Myers Squibb," said Carlo de Notaristefani, president of Technical Operations, Bristol-Myers Squibb. "As the Company evolves toward a next-generation BioPharma model, combining the best of biotech with the best of a traditional pharmaceutical company, biologics will play an increasingly important role in driving our company's future growth and success, and will be key in helping patients prevail over serious disease. Chris brings extensive biopharmaceutical experience that will support the Company in this transition."

Prior to joining Bristol-Myers Squibb, Perley was vice president, Network Strategy, at Wyeth Biotech where he gained significant experience in biopharmaceutical process development, production, supply chain management, and operations. Earlier, he held manufacturing and biotechnology process development roles at the Genetics Institute in Andover, Massachusetts, and at Hoffmann-La Roche in Nutley, New Jersey.

"I am looking forward to this exciting new challenge and contributing to the ongoing transformation at Bristol-Myers Squibb," said Perley. "I feel very fortunate to be a part of this project and in helping to build the biologics capability within the company. I look forward to bringing BMS's innovative therapies to patients who need them, here in the United States and around the world."

Perley holds a Master of Science degree in Biochemical Engineering and a Bachelor of Science degree in Chemical Engineering from the Massachusetts Institute of Technology, as well as a Master of Business Administration degree from Boston University's Executive Program.

About Devens

Bristol-Myers Squibb announced the selection of Devens, Massachusetts, as the site of its new biologics manufacturing facility in June 2006. The large-scale multi-product bulk facility is modular in design to accommodate potential future expansion. When operational, the facility will require an initial workforce of approximately 350 employees. The facility is projected to be operationally complete in 2009, and the company plans to submit the site for regulatory approval in 2010. The facility will support the production of Orencia(R) (abatacept), the company's biologic therapy for rheumatoid arthritis, as well as other biologic compounds currently in development.

Bristol-Myers Squibb currently manufactures its biologic compounds in a company-owned facility in Syracuse, NY, and finishes and packages its biologic medicines in Manati, Puerto Rico. The company recently completed a $200 million investment to expand the Manati facility to accommodate increased filling and finishing needs. Bristol-Myers Squibb also has manufacturing agreements with third-party partners Lonza Biologics Inc. and Celltrion, Inc.

Bristol-Myers Squibb is a global pharmaceutical and related health care products company whose mission is to extend and enhance human life.

Bristol-Myers Squibb Forward-Looking Statement

This press release contains certain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995 regarding plans to construct a biologics manufacturing facility that involves substantial risks and uncertainties. Specifically, there can be no guarantee that the construction of the facility will be completed or receive the regulatory approvals necessary to begin commercial production, or that such events will occur on the currently expected timelines. Nor is there any guaranty that the company's investigational biologic products whose production would be supported by the facility will be successfully developed or commercialized, or receive required regulatory approvals. A further list and description of risks and uncertainties can be found in the Bristol-Myers Squibb's Annual Report on Form 10-K for the fiscal year ended December 31, 2007, and in its reports on Form 10-Q and Form 8-K. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

Source: Bristol-Myers Squibb Company

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