Pharmaceutical company Merck, which has had presence on the island for more than six decades, will be investing $2.5 million in new business offices in Puerto Rico that will also serve as its commercial headquarters for the Caribbean region, company officials announced.
Merck & Co.’s reported plans to cut back its workforce by about 13,000 by 2015 will not affect its local operations, Frank Gutiérrez, general manager of Merck Puerto Rico and the Caribbean, said Friday.
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.
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