ROMARK LABORATORIES TO PLANT ITS FLAG IN PUERTO RICO
Manatí, PR – Dec. 5, 2014 - The Puerto Rico Industrial Development Company (PRIDCO) and Puerto Rico governor Alejandro García Padilla announced today the development of a new biopharmaceutical operation for Romark Laboratories. Joined by the chief executives of Romark Laboratories, the governor and the executive director of PRIDCO, Antonio L. Medina Comas, revealed the $110 million investment that Romark Laboratories will make to develop the new facilities that will employ approximately 200 people over the next three years.
"The industrial development strategy continues advancing and bearing important achievements for Puerto Rico", said Medina Comas. "The arrival of Romark Laboratories sends a clear message about the capabilities that Puerto Rico has as a center of excellence for manufacturing activities. It also positions the island as an innovation center for the life sciences industry".
Romark Laboratories will develop the new manufacturing operation in the northern municipality of Manati, where research and development activities will also take place. Construction should begin in January 2015 and operations by the first half of 2016.
"We have been impressed with the opportunity that Puerto Rico has to offer to pharmaceutical companies that are expanding in the United States and foreign markets," said Marc Ayers, President and Chief Executive Officer of Romark. "We are enthusiastic about establishing our operations in Manatí."
During its operational phase, the company will manufacture worldwide requirements for its existing Alinia® product and for its NT-300 product – a new product in development for influenza, which it expects to launch by 2016.
PRIDCO continues to work with Romark Laboratories to complete all the necessary agreements to provide infrastructure and job creation incentives, under the Economic Incentives for the Development of Puerto Rico Act.