Amgen and Lilly Recommit to Puerto Rico as the Island Seeks Manufacturing Revival

Puerto Rico’s pharmaceutical manufacturing landscape has historically been a vital part of its economy and a significant contributor to the global biopharmaceutical supply chain. However, the expiration of favorable tax incentives dramatically impacted the island's attractiveness to pharmaceutical companies, resulting in contractions and a drift of manufacturing operations elsewhere.

In recent efforts to reverse this trend, major biopharma companies Amgen and Eli Lilly have reaffirmed their commitment to maintaining and expanding manufacturing facilities on the island. Their recommitment signals renewed confidence in Puerto Rico as a strategic hub, despite the complex challenges posed by less advantageous fiscal policies.

This resurgence effort is intertwined with broader geopolitical realities that have elevated the strategic importance of domestic and near-shore pharmaceutical manufacturing. Supply chain vulnerabilities exposed during recent global events have prompted industry and policymakers to emphasize greater manufacturing sovereignty and resilience.

Puerto Rico, with its skilled workforce, established infrastructure, and proximity to the U.S. mainland, is well-positioned to capitalize on these factors. The island’s leaders and stakeholders are actively pursuing new policy frameworks and incentive programs aimed at attracting and retaining pharmaceutical manufacturing investments.

For Amgen and Lilly, recommitting to Puerto Rico implies a strategic alignment with long-term industry trends toward reshoring and diversifying manufacturing footprints. Their investments also foster economic development and workforce stability in the region.

In summary, Puerto Rico's bid to regain manufacturing momentum amidst expired tax incentives represents a crucial case of industry adaptation to shifting geopolitical and economic landscapes. It underscores the significance of policy support and corporate partnership in sustaining vital biomanufacturing capabilities.

For an in-depth look at these developments, refer to the full article on BioSpace: As Amgen and Lilly Recommit, Puerto Rico Seeks To Regain Manufacturing Momentum.