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Article: Puerto Rico builds on initial advantage to promote growth in a Post-936 environment. (Pharmaceuticals & Fine Chemicals).
- Article from:
- Chemical Market Reporter
- Article date:
- February 24, 2003
- Author:
CopyrightCOPYRIGHT 2003 Schnell Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LONG CONSIDERED the premier hub for pharma manufacturing, Puerto Rico now faces serious competition. The flow of pharma projects has thinned, and other manufacturing destinations are touting comparable tax incentives and lower labor costs. With Ireland and Singapore both hot on their heels in the pharma sourcing arena, Puerto Rico is attempting to distinguish itself not only through its attractive tax rates, but also by emphasizing the advantages of its extensive industrial and academic infrastructure, and the flexibility of its human capital.
The first pharmaceutical company made its appearance on the island over three decades ago. The industry has since ...