On Dec. 13, 2016, Bristol-Myers Squibb announced that it would not renew its lease at the Lake Union Steam Plant site in Seattle, Washington in 2019. The company planned to transition employees from Seattle to other U.S. locations.

The changes are consistent with the evolution of the company’s operating model, and follows previously announced investments to modernize workspace with the development of a state-of-the-art research facility in Cambridge, the expansion of its Redwood City research campus in the San Francisco Bay Area and recently opened Princeton Pike facility in Lawrenceville, New Jersey.

In Sept. 2010, Bristol-Myers Squibb completed its acquisition of ZymoGenetics in a cash tender offer to purchase all outstanding shares of common stock of ZymoGenetics for $9.75 per share. The transaction had an aggregate purchase price of $885 million.