AbbVie and Puerto Rico government announce $30m expansion
The new investment in biotechnology will create up to 100 new jobs
AbbVie is to invest US$30m to expand its operations in Puerto Rico.
The Puerto Rico Industrial Development Company said it will provide incentives to AbbVie for the expansion, which is expected to create up to 100 new jobs on the island over the next two years.
The company will expand its presence in Barceloneta, which is already home to two of the company's state-of-the-art facilities.
'This investment demonstrates our commitment to Puerto Rico as a key element of our global manufacturing network,' said Stephen Muldoon, Vice President of Engineering and Operations for AbbVie.
'AbbVie's expansion in Barceloneta is very important for us, as this site is one of the world's most advanced biopharmaceutical facilities, contributing to our island's growing reputation as a biotech hub,' said Puerto Rico Governor Alejandro García Padilla.
AbbVie has had a presence in Puerto Rico since 1969. It now has three plants in the island which manufacture 13 products that support the therapeutic areas of immunology, virology and metabolic disorders.
The company is a research-focused global biopharmaceutical company formed in 2013 after the split with Abbott Laboratories.