Puerto Rico opens new research and development center for pharmaceutical products
Caguas, PR - The Puerto Rico Industrial Development Company (PRIDCO) joined governor Alejandro García Padilla for the inauguration ceremony of Neolpharma's new Development and Innovation Center (CEDIPROF) for new pharmaceutical products in Puerto Rico.
"For Puerto Rico this is a fundamental step. We manufacture 7 out the top 10 best-selling biopharmaceutical products in the world, and 12 out of the world's top 20 biotechnology companies have presence in Puerto Rico. Now, with this new center, we position the island in the production of pharmaceutical products since the early stages of research and development", said García Padilla.
For the construction of this new project, Neolpharma came to Puerto Rico last year and invested over $12 million in machinery and equipment. They are creating 23 new jobs.
CEDIPROF entails a 2,000 square feet pilot facility for research, development and evaluation of new pharmaceutical products, as well as an analytic and forensic laboratory and a 4,000 square feet warehouse.
"CEDIPROF represents a major strategic move for Puerto Rico towards the knowledge economy, and therefore, for the creation of new and better jobs", added García Padilla.
Between this and next year, CEDIPROF will produce 12 to 15 generic pharmaceutical products that will be submitted for FDA approval. Once they are approved, Neolpharma will manufacture them in Puerto Rico for the US market.
CEDIPROF comes as a result of an incentives and product transfer agreement with PRIDCO. "This project is just the beginning of an operation that has a lot of growing potential and that in the coming months and years will drive economic growth to Puerto Rico", concluded Antonio Medina Comas, executive director of PRIDCO.
Contact: Pedro Cuéllar Contact: Ricardo Soto
Since its establishment in 1942 the Puerto Rico Industrial Development Company (PRIDCO) has been committed to attracting investment and creating jobs for its citizens. Operating as a government owned economic development organization; PRIDCO offers support to companies in areas such as aerospace, life sciences, information technology and energy. For more information about PRIDCO please visit www.pridco.com.
Gabriela Meléndez Olivera
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