Bristol-Myers Squibb, which bought ZymoGenetics in 2010, said it will retain its manufacturing operation at the Lake Union Steam Plant.

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Bristol-Myers Squibb will move about 40 research and development jobs from Seattle to an expanding lab near San Francisco, the pharmaceutical giant said Thursday.

The manufacturing operations now in the Lake Union Steam Plant will remain, spokesman Ken Dominski said in an email. By the end of next year Bristol-Myers will have approximately 120 Seattle workers, engaged in early manufacturing to support toxicology studies and early-stage clinical trials, he said.

Bristol-Myers Squibb bought Seattle drugmaker ZymoGenetics in 2010, and said the following year it would keep a long-term presence in Seattle’s South Lake Union district. At the time local officials said the company would be retaining about 275 jobs — most of the approximately 325 that ZymoGenetics employed when it agreed to be acquired for $885 million,

The move announced Thursday is part of a larger reorganization of the company’s research operations that will focus on the Boston and San Francisco areas. The restructuring also eliminates about 100 research positions acoss the organization, and several hundred jobs in the Northeast will be moved, a company statement said.