Bristol Myers Squibb, a biopharmaceutical company, has opened a new facility, which will expand its global drug development, information technology and digital capabilities. The company said it invested over $100 million on the facility, which will house over 1,500 employees.

“The new site expands the company’s global footprint and will serve as an innovation hub,” said a company statement on Monday.

Telangana Industries and IT Minister D Sridhar Babu, Christopher Boerner, Chief Executive Officer, and Greg Meyers, Chief Digital and Technology Officer, of Bristol Myers Squibb, were present at the inauguration ceremony.

“Our new innovation hub in Hyderabad will accelerate drug development and enhance our digital capabilities. This investment also enables us to further diversify our global workforce, strengthening our ability to positively impact patients everywhere,” Christopher Boerner said.