Global Life Sciences Cluster Report 2011 - Jones Lang LaSalle
Global Life Sciences Cluster Report 2011 - Jones Lang LaSalle
Global Life Sciences Cluster Report 2011 - Jones Lang LaSalle
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Emerging cluster<br />
Puerto Rico<br />
Over the past five decades, many of the industry’s leading<br />
players have moved manufacturing operations to the island<br />
to take advantage of incentives and reduced taxes.<br />
Overview<br />
The Commonwealth of Puerto Rico has deep-seated roots<br />
in pharmaceutical and medical device manufacturing. Puerto<br />
Rico is home to more than 140 FDA, EMA and MHLWapproved<br />
pharmaceutical and device plants and produces<br />
products for distribution in the United States, European Union<br />
and Japan.<br />
Puerto Rico enjoys representation from some the industry’s<br />
largest companies, including Eli Lilly, Merck, Pfizer, Johnson<br />
& Johnson, Novartis, GlaxoSmithKline, Bristol Myers Squibb,<br />
Abbott Laboratories and AstraZeneca. Big Pharma’s presence<br />
is rooted in the offshore manufacturing sites established since<br />
the 1960s. Investment since that time has been focus on<br />
modernization, with a few high-tech labs and R&D facilities.<br />
At mid-year <strong>2011</strong>, Monsanto announced plans to construct<br />
a 20,000-sqare-foot R&D lab to replace temporary facilities<br />
with permanent ones in the southern town of Juana Diaz.<br />
The expansion is valued at $4.3 million and is expected to<br />
create nearly 50 jobs. In June <strong>2011</strong>, Legacy Pharmaceuticals<br />
announced a $34 million expansion project over the next five<br />
years at its Humacao complex, adding 300 jobs. Legacy will<br />
receive more than $1.5 million in job-creation incentives from<br />
the Puerto Rico Industrial Development Company (PRIDCO).<br />
67 Americas | <strong>Jones</strong> <strong>Lang</strong> <strong>LaSalle</strong><br />
Additionally, Merck, Sharp & Dohme, the British-based subsidiary<br />
of Merck & Co., announced a $65 million investment plan at<br />
its Barceloneta site. The company will build a new plant and<br />
employ an additional 200 people.<br />
Industry framework<br />
Innovation capacity<br />
The primary academic research institution is the University<br />
of Puerto Rico (UPR), which features multiple locations<br />
throughout the island including the UPR Medical <strong>Sciences</strong><br />
Campus in San Juan. Other academic institutions include<br />
the Ponce School of Medicine and the San Juan Bautista<br />
School of Medicine.<br />
Innovation capital<br />
One of the largest groups working to develop the island’s<br />
capabilities is the Puerto Rico Science, Technology and<br />
Research Trust. Beyond its efforts to build the territory’s<br />
talent pool and transfer technology from the workbench to<br />
the marketplace, the trust’s flagship initiative is its San Juan<br />
Knowledge Corridor. The planned 2,000-acre “science city”<br />
will encompass a mix of educational, commercial, laboratory<br />
and residential space. The campus will connect to existing<br />
Tof C