Wednesday, October 18, 2017

Biogen Launches Operations in Guayama

By on October 31, 2016

biogen-logo-1100x733SAN JUAN — To the tune of more than $92 million, biotechnology company Biogen will set up shop at the former facilities of Eli-Lilly in Guayama, seeking to create 350 jobs within the next five years, La Fortaleza announced Monday.

The Puerto Rico Industrial Development Co. awarded approximately $2 million in  job creation and infrastructure incentives to Biogen. According to the press release, the local operations of the U.S. multinational will focus on the manufacture of active pharmaceutical ingredients and fine chemicals.

“The arrival of Biogen is a new boost to our island as an ideal place to do business. It is a reaffirmation that our government is a first-class trading partner. That will be our true legacy to the country. The foundations of a new economic infrastructure are being established in Puerto Rico. It is up to the new leaders of the country, who will be elected within a very short time, to strengthen what we are leaving and take it to even greater heights,” Gov. Alejandro García Padilla stated.

Biogen acquired Eli-Lilly’s assets in Guayama, after the pharmaceutical reduced its operations in Puerto Rico. According to La Fortaleza, Eli Lilly collaborated with the government and Biogen, allowing for the transaction to take place.

The governor highlighted his administration’s efforts in bringing foreign investment and companies to the island, citing the cases of Bristol Myers in Manatí, Sartorius in Yauco, as well as Lufthansa, Honeywell and Infosys in the “aerospace ecosystem” that has been established in Puerto Rico’s northwest.

Biogen produces more than 100 drugs under 200 different brands, including generic products, antiviral drugs, anti-inflammatory and drugs for respiratory diseases.

image_print

You must be logged in to post a comment Login

Start your Free Trial for a limited time!