Puerto Rico has one of the world’s most competitive manufacturing foundations, but one of the most underdeveloped research and development economies, which poses an inarguable need to establish mechanisms to foster the right conditions for it to flourish, a high-ranking manufacturing executive recently told News is my Business.
A year after announcing plans to invest $6 million to expand its Salinas operation, Illinois-based Pioneer Hi-Bred officially announced Wednesday the completion of the project that has already produced 40 of the total 100 jobs that will be created within the next 18 months.
Cordis Corporation, a subsidiary of Johnson & Johnson, announced Wednesday the discontinuation of production of its Cypher Stent product by the end of 2011, representing the closing of its plant in San Germán. The decision will leave 450 people jobless.
Contract manufacturer Legacy Pharmaceuticals PR, LLC announced Monday investment plans to expand its Humacao complex, where it produces and packages a variety of over-the-counter and prescription drugs in tablet and liquid forms.
The Food and Drug Administration recently issued a warning letter to Bayamón fruit juice processing plant Jonlly Fruits Inc. over “serious violations” to current safety and sanitary regulations.
Less than a year after getting into hot water with the U.S. Food & Drug Administration, Bristol-Myers Squibb in Manatí has reportedly solved its problems and is back in the regulator’s good graces.
A little over a year after acquiring a plant formerly owned by Biovail in Dorado, Blu Caribe announced Wednesday a $2.5 million upgrade to its plant that will create 115 new jobs and allow the addition of more products to its manufacturing line in coming months.
During his participation during the last day of the Puerto Rico Manufacturers Association’s 83rd annual convention Saturday, Gov. Luis Fortuño signed an executive order to create an advisory council on manufacturing issues, that will have participation from the public and private sectors.
The once manufacturing-centric town of Cidra will see another of its industrial tenants shutting down in August, as a result of Wednesday’s announcement by Ciba Vision that it will cease production of its Specialty Soft line of contact lenses there.
Massachussetts-based Boston Scientific on Friday announced the recall of more than 29,000 of its iCross Coronary Imaging Catheters distributed in the U.S. mainland, Puerto Rico, Trinidad & Tobago and the U.S. Virgin Islands.
The head of the U.S House of Representatives Oversight Committee, Rep. Darrell Issa (R-Calif.), recently blasted the U.S. Food & Drug Administration for failing to properly monitor Johnson & Johnson’s McNeil unit in Las Piedras, which last year got into trouble for production flaws that led to massive recalls.
Medical device manufacturer ProMed Molded Products will invest $5.4 million to expand its operations in Dorado, adding 143 new jobs in the process, the Economic Development and Commerce Department announced Tuesday.
Calling it its “manifesto on the economy,” the Puerto Rico Manufacturers Association unveiled Thursday a series of initiatives needed to regain the ability to expand the island’s economy and create jobs.
German medical device maker Sartorius Stedim Biotech announced plans for a $20 million expansion at its industrial complex in Yauco, which will add 87 new jobs and a new filtration systems manufacturing line to its operation.
Puerto Rico’s future success and prosperity depends on its ability to continue innovating to remain competitive and relevant, figure out a way to retain its strong talent pool and refrain from falling into the category of not being “business friendly,” said Michael Mussallem, CEO of Edwards Lifesciences to a standing-room-only group of executives Thursday.
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