Global biopharmaceutical company Bristol-Myers Squibb, accompanied by Puerto Rico government officials, confirmed Tuesday an $85 million investment to expand its manufacturing plant in Manatí.
“This announcement is conclusive proof that large companies in the biopharmaceutical sector, one of the fastest growing sectors in the world, still trust Puerto Rico as an ideal place to do business,” Puerto Rico Gov. Alejandro García-Padilla said during a walk-through of the construction site.
During the visit, Bristol-Myers Squibb detailed its plans to establish new production technologies and enable subsequent product transfers to Manatí.
“Bristol-Myers Squibb´s Global Manufacturing and Supply organization is leading the industry in innovation and our Manatí site is a key component and our center of excellence for the manufacturing of biological drug products,” said Aníbal Carlo, vice president and general manager of BMS Manati operations. “This expansion positions Manatí in the forefront of BMS manufacturing of biologics.”
The expansion, which is already undergoing construction, will create approximately 126 new jobs over a three-year period.
“Once again we demonstrate Puerto Rico’s capabilities to attract large-scale investments. We continue working with the industry to protect and grow existing operations, providing economic growth and highly skilled jobs for our people,” said Antonio Medina, executive director of the Puerto Rico Industrial Development Company.
In addition to the Manatí operations, Bristol-Myers Squibb has another manufacturing facility in in the municipality of Humacao and its commercial operations in Guaynabo. In total, Bristol-Myers Squibb has approximately 800 employees in Puerto Rico.
As a global biopharmaceutical company, Bristol-Myers Squibb manufactures medicines to help millions of people in their fight against diseases such as cancer, cardiovascular disease, hepatitis B and hepatitis C, HIV/AIDS and, rheumatoid arthritis.
The company also encourages community and social integration, promoting the participation of its employees in environmental awareness and emergency preparedness activities within the community, and participating in educational activities, safety and health initiatives.