Legacy Pharmaceuticals investing $34M in Humacao complex
Contract manufacturer Legacy Pharmaceuticals PR, LLC announced Monday plans to invest $34 million over the next five years 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 expansion comes less than five years after Legacy established itself in Puerto Rico and Switzerland through the 2007 acquisition of the former Valeant Pharmaceutical International facilities in both jurisdictions.
The company has about 115 people on its payroll, to which it will add another 300 over the five-year period, company officials said. during a news conference at the plant. To create the new jobs, Legacy will receive more than $1.5 million in incentives from the Puerto Rico Industrial Development Company, agency Chief José-Pérez Riera said during a news conference at the plant.
“PRIDCO has been a facilitator in this process by providing incentives for job retention and creation, which will allow Legacy to raise its headcount to over 400 direct jobs in the coming years,” he said.
Legacy Pharmaceuticals has an annual production capacity of 12 billion tablets and capsules, 100 million bottles and 12 million tubes at its 400,000 square-foot campus, located on a 220-acre campus in Humacao’s Mariana Sector.
Its announcement comes a week after another contract manufacturer located clear across the island in Dorado, Blu Caribe, announced expansion plans of its own that will create 120 new jobs.
“The decision of both companies to invest in Puerto Rico is an indication that our economy is improving,” Gov. Luis Fortuño said during the event in Humacao.