U.S. drugmaker Biogen Inc. is investing more than $92 million in Puerto Rico after buying assets that once belonged to Eli Lilly & Co. in the island’s southern region.
Gov. Alejandro Garcia Padilla says the Massachusetts-based company will manufacture active pharmaceutical ingredients at the plant in Guayama and employ about350 people in the next five years.
Garcia said Monday that his administration offered about $2 million worth of incentives as part of the deal.
An increasing number of health care companies are investing in Puerto Rico as the U.S. territory seeks to boost its manufacturing sector amid a 10-year economic slump.
Source: The Associated Press via The Washington Post
Five years ago, GSK made headlines when it hired Emma Walmsley to become the first woman to run a major pharmaceutical company. Now the Big Pharma has brought in another woman to control the company’s finances. Julie Brown will be GSK’s next chief financial officer. Brown, currently the chief operating and financial officer at fashion and beauty brand Burberry Group, is set to replace Iain Mackay.
Moderna created a new role responsible for “building out the company’s organization to support its growing pipeline.” Starting first thing 2023, Juan Andres, Moderna’s manufacturing head, will step into this new role under the title president of strategic partnerships and enterprise expansion, the company said Thursday.
The latest takeover is anticipated to boost the presence of Torrent in the dermatology segment. Indian company Torrent Pharmaceuticals has signed a definitive agreement for the complete acquisition of Curatio Healthcare for $245.16m (Rs20bn).
