By Mark Scott
Buffalo, NY – The sale of the Bristol-Myers Squibb manufacturing plant on Forest Avenue in Buffalo to a Canadian company has been completed.
Contract Pharmaceuticals Limited, a third party manufacturer of pharmaceutical products, closed on its acquisition of the Buffalo operation last Friday. Company CEO Paul Pickles says they plan to retain the plant's 200 employees and add more jobs.
"There is a very well-trained and well-positioned employee base at this plant," Pickles said. "We believe in carrying that heritage forward, building on the strengths of the people there."
There had been some concern before the sale that Bristol-Myers Squibb would close the plant, which has a long history dating back 130 years. Pickles says pursuing the purchase of a plant in Buffalo made a lot of business sense because of its proximity to his company's facilities in Ontario. He also said a financial incentive package was offered.
"That site is in an Empire Zone," Pickles said. "That makes it attractive because of the benefits the state, county and city are offering."
Pickles says his company will continue to use the Buffalo plant to manufacture products for Bristol-Myers Squibb such as Keri lotion and other creams and ointments.