Spanish pharma firm enters Phoenix market after deal with Bristol Myers Squibb Article originally posted on Phoenix Business Journal on April 3, 2026 A Spanish pharmaceutical company acquired a drug manufacturing facility from a major U.S.-based drugmaker. Bristol Myers Squibb sold its Phoenix manufacturing plant to a subsidiary of ROVI Pharma Industrial Services on March 31 for $18,524,000, according to real estate database Vizzda LLC. The deal terms include a toll manufacturing agreement where ROVI will receive $50 million minimum annually for five years – or about $250 million – while continuing to manufacture products for Bristol Myers Squibb at the plant. The property includes two buildings that were constructed in the 1980s on about 20.5 acres and are located at 620 N. 51st Avenue and 5102 W. McKinley Street. The first building, which amounts to about 220,660 square-feet, includes industrial engineering, office and material storage space. The second building amounts to about 45,360 square feet and includes warehouse and office space. Bristol Myers Squibb operates an injectable drug manufacturing and packaging plant and has invested about $100 million into the site for those operations. ROVI scooped up the property to expand its existing European operations to now offer US-based sterile production, according to a statement from the company. The facility includes a cytotoxic high-potency area that creates volatile compounds such as those used in cancer treatment with commercial scale lyophilization – a type of freeze-drying. The factory also holds regulatory approvals from the Food and Drug Administration, European Medicines Agency and Japanese authorities, the company stated. Find Complete Article Here: https://www.bizjournals.com/phoenix/news/2026/04/03/bristol-meyers-squibb-phoenix-manufacturing-rovi.html