Bristol Myers Squibb selected Houston for a $2.3 billion multi-modal manufacturing campus intended to support drug product and finished-goods manufacturing across late development through launch. The site is planned to produce multiple modalities—small molecules, biologics, and antibody-drug conjugates—reflecting BMS’s shift toward platform manufacturing for new launches. BMS tied the campus to its previously announced $40 billion investment commitment across U.S. R&D, technology, and manufacturing. The move also lands in the broader U.S. reshoring push, alongside other large biopharma manufacturing expansions. For the sector, the Houston selection signals how major sponsors are rebalancing capacity toward domestic throughput, supply-chain control, and scalable multi-modality processes.