Bristol-Myers Squibb Co. said Tuesday the Food and Drug Administration approved a new manufacturing plant where the company will produce its rheumatoid arthritis drug Orencia.
The plant is in Devens, Mass. Bristol-Myers said about 300 scientists, engineers, quality specialists and other employees work there. It said the new plant will help the company meet demand for Orencia and future products.
Bristol-Myers said it makes its biotech drugs in a facility in Syracuse, N.Y., and through deals with third-party suppliers. Manufacturing is then finished at a facility in Manati, Puerto Rico.
The FDA approved an injectable version of Orencia in July, allowing patients to give themselves the drug. Previously the drug was only given through intravenous drips.
Shares of Bristol-Myers Squibb rose 7 cents to $32.98 in afternoon trading.