A new centre for the research and development of generic pharmaceuticals has been inaugurated in Puerto Rico. The Centre for the Development and Innovation of Pharmaceutical Products is the first of its type to be opened in the region and will be operated by Mexico-based Neolpharma, according to the office of Governor Alejandro Garcia Padilla.
Neolpharma's 'strategic move' into Puerto Rico means it can develop pharmaceuticals under the US Food and Drug Administration's (FDA) regulations for the American market, said Antonio Medina, Executive Director of the Puerto Rico Industrial Development Company, a government-owned company which has offered Neolpharma tax and other incentives.
Neolpharma's investment of US$12m in the centre follows its acquisition of a production facility in Caguas, Puerto Rico last year. The company plans to produce 12 to 15 generic drugs in the next two years on the island for FDA approval, added Medina.
