As a valued and trusted leader, he played a critical role in the company’s transformation to a BioPharma leader and in shaping the strategy that continues to guide the company today.”Īndreotti served as Bristol-Myers Squibb’s chief executive officer from 2010 through May 2015 and will have served as Bristol-Myers Squibb’s chairman for two years when Caforio’s appointment becomes effective in May 2017. “I also want to thank Lamberto for his many years of service to the company and for serving as chairman. Giovanni’s depth of experience, knowledge and deep understanding of the industry make him the right person for the chairmanship.” West, Jr., the board’s lead independent director, said, “Since becoming CEO last year, Giovanni has demonstrated strong leadership and a commitment to the company’s patient-focused mission and culture of integrity and ethics. “It was a pleasure working with Giovanni during this transition period, and I have full confidence that he will do what is needed to continue to deliver on the company’s mission and generate sustainable growth for our shareholders now and in the future.” “Since being named CEO, Giovanni has clearly demonstrated the capabilities needed to lead Bristol-Myers Squibb in the near and long term,” said Andreotti. Working with the talented leaders and employees of this company, I look forward to further advancing our BioPharma strategy, and delivering transformational medicines that make a difference in the lives of patients around the world.” ![]() “Bristol-Myers Squibb has tremendous opportunities for growth, highlighted by our leadership position in Immuno-Oncology and the opportunity to accelerate our diversified pipeline of transformational medicines. “It is an honor to have the opportunity to build on the strong foundation established by Lamberto Andreotti,” said Caforio. Caforio, who will continue to serve as chief executive officer, will succeed current Chairman Lamberto Andreotti, who has announced his plan to retire. as chairman of the board, effective May 2, the date of the company’s annual meeting of shareholders. The lease at Cambridge Crossing is part of accommodating that growth, sources told Bisnow.NEW YORK-( BUSINESS WIRE)- Bristol-Myers Squibb Company (NYSE:BMY) today announced that the company’s Board of Directors has appointed Giovanni Caforio, M.D. The New York-based firm acquired fellow biotechnology firm Celgene last November for $74 billion. Most of the rest is residential space, along with 100,000 square feet of retail and restaurant space.īristol Myers joins a handful of other office tenants to commit to lease space at Cambridge Crossing, including Philips North America, Sanofi, and Cerevel Therapeutics. Alexandria Real Estate Equities, an investment trust that specializes in the field, raised $1.1 billion in a July share offering that founder Joel Marcus called “the largest equity offering in the company’s history.”Īt Cambridge Crossing, life sciences and tech-specific space comprises about 2 million square feet. Life science centers are also getting more attention from prospective investors. Pharma companies need specialized space to do their work, and landlords are seeing strong demand for those properties, with many looking to add to their portfolios. The coronavirus pandemic has wreaked havoc on a wide range of real estate sectors, but not surprisingly it’s fueling interest in the pharmaceutical sector. Bristol Myers signed a lease for the 250 Water Street building, which DivcoWest expects to complete in 2022. ![]() The complex is under construction on 43 acres at the borders of Cambridge, Somerville, and Boston. Bristol Myers Squibb CEO Giovanni Caforio and a rendering of Cambridge CrossingĭivcoWest snagged a major pharmaceutical tenant for its sprawling mixed-use complex in Boston.īristol Myers Squibb has agreed to lease 360,000 square feet at the 4.5-million-square-foot Cambridge Crossing, according to Bisnow.
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