Two pharmaceutical giants, Bayer AG and Merck, announced this morning a deal through which the first has agreed to pay $14.2 billion for the latter’s Consumer Care Unit, picking up global trademark and prescription rights for a number of recognized brands, including Claritin and Afrin.
Honeywell Aerospace announced an agreement with the government to establish a new $35 million electromagnetic compatibility and environmental test laboratory in the mountain town of Moca.
Puerto Rico’s Purchasing Managers Index for the manufacturing sector increased to 52.8 in February, vaulting over the 50-point threshold after two consecutive months of falling short, the report released Tuesday by the Puerto Rico Institute of Statistics revealed.
The troubled economy and competition from U.S. pharmacy chains notwithstanding, Puerto Rico's community pharmacies are holding their own and are likely to experience growth this year, according to the head of a cooperative of pharmacy owners.
Some companies from the U.S. mainland operate in Puerto Rico directly vs. through Controlled Foreign Corporations. They pay federal income tax on their territorial income at the normal 35 percent rate.
FirstBank and the Autonomous Municipality of Caguas will be co-hosting an educational conference for small and mid-sized businesses next week, when they will get first-hand guidance for managing the finances of their business during times of crisis.
The Global Advertising Lawyers Alliance (“GALA”) has added the Puerto Rican law firm Ferraiuoli LLC as a new member, effective Feb. 15. GALA is the leading network of advertising lawyers in the world.
Caribbean Can Manufacturing Company, LLC, a new $60 million one-of-a-kind aluminum can manufacturing plant based in Cidra was officially inaugurated today, marking the the birth of a new local industry, company officials said.
The Purchasing Managers Index (PMI) for Puerto Rico’s manufacturing sector increased to 53.1 in November, remaining above the threshold level for the fourth consecutive month on a non-seasonally adjusted (NSA) basis, according to the report released Thursday.
Puerto Rico government officials confirmed Tuesday the García-Padilla administration is working on a proposal to persuade aerospace giant Boeing to build its new 777X aircraft on the island, which could create thousands of jobs and billions of dollars in much-needed economic activity.
As part of a global effort to better align manufacturing capacity with the future needs of its business, Pfizer announced Wednesday the phased shutdown of its Barceloneta manufacturing plant by the end of 2017.
Medical device manufacturer Stryker could be on a path toward growth in Puerto Rico.
In response to the growing diabetes epidemic and increasing demand for insulin around the world, pharmaceutical company Eli Lilly and Co. announced Thursday it will invest more than $700 million to enhance its insulin manufacturing capacity in Puerto Rico, France and China, as well as in its Indianapolis global headquarters.
Private investment firm Graham Partners has acquired a majority stake in Comar Inc., a manufacturer of packaging solutions and liquid dispensing products for the pharmaceutical, diagnostic, health, and personal care markets with plants in New Jersey and Cayey, where it employs 50.
It was five years ago that manufacturing giant GlaxoSmithKline North America Pharmaceuticals took a step back to assess the way it was doing business.
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