Chinese pharma PuraCap Caribe pumps $7.3M to expand plant in P.R.
PuraCap Caribe, the first Chinese investment pharmaceutical company on the Island that produces generic products in different presentations has expanded its operations in Puerto Rico, after pumping $7.3 million into its plant.
Currently, the pharmaceutical company—which injects economic activity with its expansion in the northern region of the Island—produces five products while actively seeking to incorporate others in its portfolio. The company has 175 employees.
PuraCap CEO, Xiaofeng Meng, said the company is focused on the manufacturing and distributing of high quality generic pharmaceutical products at competitive prices.
“As our business evolves, our goal remains the same: to improve existing product lines, maintaining efficient operations in the supply chain as well as superior customer service. More than $4 million in infrastructure to guarantee the operational conditions necessary for efficiency and reliability, and approximately $41 million in operational expenses, which include compensation and employee benefits,” Meng explained.
“We acknowledge the experience of Puerto Ricans in the pharmaceutical sector as well as their high work standards, a tradition of more than six decades of development and dedication to this industry, and an unparalleled legacy of providing the highest quality products to the world from the Island,” Meng said.
The plant has more than 28,000 square feet dedicated to solid dosage manufacturing . It has a potential annual manufacturing capacity of about two billion tablets and has a record of compliance and commitment to quality among its employees, executives said.
PuraCap Caribe is a manufacturing facility approved by the United States Food and Drug Administration also serving as contract manufacturers for national and international clients. The facilities also have a separate area for research and development of products and processes.
During the announcement, Gov. Ricardo Rosselló said the government’s commitment is to “continue supporting the development of established companies, which translates into new job opportunities and economic development for the people and for Puerto Rico.”
Puerto Rico Industrial Development Company Executive Director Manuel A. Laboy, explained that PuraCap has employed additional personnel for operational, supervisory, engineering, scientific, and administrative positions.
“We have seen a rebirth in the industrial development of Puerto Rico through the establishment of new businesses and the expansion of others in different municipalities of the Island,” Laboy said.
“We’re very excited because, not only are jobs being created for the professional workforce of the Island: this is an opportunity for them to consider it as a good option, so that they can remain in Puerto Rico with their families and contribute to local development,” he said.