Bristol-Myers Squibb to cut 100 jobs as it ends new virology research

US drug major Bristol-Myers Squibb (NYSE: BMY) is to end new virology research, including its early-stage research in hepatitis B and HIV.

The company’s decision does not affect current development programs in the field or marketed products, but will lead to the loss of approximately 100 positions in discovery. Bristol-Myers Squibb also plans to establish a new research site in Cambridge, Massachusetts, and will relocate up to 200 employees from its Wallingford, Connecticut, and Waltham, Massachusetts, sites. The existing site in Wallingford is to close in early 2018 and up to 500 employees will relocate to a new location in Connecticut. The Waltham facility will also close in early 2018.

Chief scientific officer Francis Cuss said: "In addition to investments in central New Jersey, our new location in Cambridge and our expanding presence in the San Francisco Bay area positions the company and our scientists in the heart of vibrant ecosystems of world class science, innovation and business opportunities, which offer ideal environments for fostering external collaboration. Ultimately, our goal is to continue to accelerate the translation of scientific knowledge and insights into the next wave of potentially transformational medicines for patients with serious diseases.”