Bristol Myers To Build First Cell Therapy Factory In Europe

Bristol-Myers Squibb Co BMY continues to scale its CAR-T operations with the latest move to open its first cell manufacturing site in Europe and fifth worldwide.
BMY is set to build a new cell therapy site in Leiden, the Netherlands. Financial terms were not disclosed.
The site design planning and development are underway, with construction expected to kick off later this year.
The company's swift cell therapy scale-up follows the FDA green lights for its closely-watched CAR-T therapies Breyanzi and Abecma.
Abecma (idecabtagene vicleucel; ide-cel), approved in March, is a BCMA-directed chimeric antigen receptor (CAR) T cell immunotherapy to treat relapsed or refractory multiple myeloma.
Breyanzi (lisocabtagene maraleucel; liso-cel) was approved in February. It is a CD19-directed CAR-T cell therapy for relapsed or refractory large B-cell lymphoma.
None of these treatments are approved in Europe.
Price Action: BMY shares are down 0.09% at $66.26 in premarket on the last check Thursday.