US-based Bristol Myers Squibb, one of the world’s top bio-pharmaceutical firms, has chosen Hyderabad to set up its Science, Technology and Innovation Centre. 

It did so after seeing the infrastructure, resources and manpower available here. 

It will invest $100 million (about Rs 820 crore) and will employ 1,500 people. 

IT and Industries Minister KT Rama Rao said, "I am delighted to welcome Bristol-Myers Squibb to the vibrant ecosystem of Hyderabad. It is indeed a matter of pride that BMS, which is one of the most innovative and world-leading bio-pharmaceutical companies, has chosen Hyderabad." 

He had also mentioned that the centre would provide an excellent opportunity for the talent pool to engage in some highly impactful work. 

In Hyderabad, BMS will be engaged in cutting-edge R&D and digital activities. 

This is their first centre in India. 

The State initially set a target to double the life sciences value from $50 billion to $100 billion by 2030. 

IT and Industries Principal Secretary Jayesh Ranjan and Telangana Life Sciences CEO Shakthi M Nagappan were also present.