Bristol Myers Squibb, a world's leading biopharmaceutical company will establish a state of-the-art site here to expand its global drug development and IT capabilities with an investment of Rs 800 crore, a Telangana government press release said on Thursday. The announcement was made after Telangana Minister KT Rama Rao's meeting with Samit Hirawat, Executive Vice-President, Global Drug Development at BMS, who is in the city to participate in BioAsia 2023, it said.