Biopharmaceutical firm to set up plant in PR with $46 million investment
- The San Juan Daily Star
- 4 hours ago
- 2 min read
By THE STAR STAFF
Puerto Rico’s strategy to attract advanced manufacturing investment appears to be gaining momentum with the recent announcement that global biopharmaceutical company PharmaEssentia will establish a new manufacturing subsidiary on the island.
The initiative, revealed Thursday by La Fortaleza Public Affairs Secretary Jean Peña Payano and Economic Development and Commerce (DDEC) Secretary Sebastián Negrón Reichard, represents an estimated $46 million investment.
As part of its expansion and diversification strategy for the U.S. market, Taiwan-based PharmaEssentia will develop a biologics manufacturing facility in Puerto Rico to support growing global demand for BESREMi (ropeginterferon alfa‑2b), an innovative treatment for hematologic diseases, including cancer. The project was facilitated by Invest Puerto Rico in coordination with other government agencies.
The company expects to generate more than 90 direct jobs in its initial phase, with additional growth projected as operations ramp up. PharmaEssentia aims to secure the necessary regulatory approvals to begin manufacturing on the island by 2027.
“Puerto Rico continues consolidating its position as a hub for advanced manufacturing, with the talent, infrastructure, and regulatory expertise that global companies seek,” Negrón Reichard said. “This investment from Asia demonstrates that our island is successfully competing for high‑value, long‑term projects.”
PharmaEssentia founder and CEO Ko‑Chung Lin said the decision aligns with the company’s global growth and resilience strategy.
“We are proud to take this important step toward establishing our manufacturing footprint in U.S. territory, with Puerto Rico as our strategic center for serving the U.S. market,” he said, adding that the investment underscores the company’s long‑term commitment to reliably serving patients worldwide.
Puerto Rico is home to one of the most robust biopharmaceutical ecosystems globally, with decades of experience in regulated manufacturing, a highly skilled workforce, and advanced industrial infrastructure -- factors that continue positioning the island as a preferred destination for world‑class investment and a key component in strengthening the global pharmaceutical supply chain.
The PharmaEssentia project advances the government’s reshoring strategy launched last year. On March 18 of last year, Gov. Jenniffer González Colón signed Executive Order 2025‑012 during a meeting with private‑sector and government leaders. The directive aims to encourage manufacturers to relocate operations to Puerto Rico under the slogan “Made in Puerto Rico is Made in the USA!”
“Puerto Rico is ready to welcome and expand multinational companies and continue consolidating its position as a key player in the national supply chain,” the governor said, citing the island’s established manufacturing base, trained workforce, strategic location, and enhanced incentive framework.
The executive order created a task force led by Negrón Reichard and composed of representatives from DDEC, Invest Puerto Rico, the Puerto Rico Industrial Development Company, the Puerto Rico Federal Affairs Administration, the Puerto Rico Science, Technology & Research Trust, and other public‑ and private‑sector stakeholders. The group is charged with advancing policies and initiatives that support reshoring and industrial investment.
“Puerto Rico is already a leader in sectors that include biopharmaceuticals and medical devices,” Negrón Reichard said. “Through this Executive Order, we are better positioning ourselves to attract even more investment at a critical time for U.S. manufacturing reshoring. We are ready to welcome more companies and facilitate their growth on the island.”