|
Pharmaceutical Industry In Puerto Rico
The pharmaceutical industry in Puerto Rico encompasses more than half of all manufacturing done in Puerto Rico. As the island's most prominent industry, pharmaceutics generates more than 18,000 jobs, pays more than US$3 billion in taxes, comprises about half of total exports, and has generated more than 25% of the island's GDP for the past four decades. Comparatively, Puerto Rico is the fifth largest area in the world for pharmaceutical manufacturing with more than 80 plants, including: Pharmaceutical companies originally came to Puerto Rico in the late 1960s and 1970s to take advantage of the now-expired federal tax incentive known as Section 936. This incentive allowed U.S.-based manufacturers to send all profits from local plants to stateside parent plants without having to pay any federal taxes. Several developments in the market, however, pose a challenge to the industry. These challenges include expired patents, cheaper manufacturers (such as those in Brazil, China, Indi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Manufacturing In Puerto Rico
Manufacturing in Puerto Rico is the largest economic sector in the economy of Puerto Rico; composing almost half (about 46%) of the gross domestic product (GDP) of Puerto Rico. All manufacturers in Puerto Rico are in some way interconnected with the Puerto Rico Industrial Development Company (PRIDCO) which provides substantial incentives for companies that manufacture in Puerto Rico. Manufacturers are also voluntarily interconnected through the Puerto Rico Manufacturers Association which serves as their primary trade association and their main lobby group upon the Legislative Assembly of Puerto Rico. Most manufacturing in Puerto Rico today is the product of Operation Bootstrap. History Advantages * governed by the law and regulations of the federal government of the United States, including the Environmental Protection Agency (EPA), U.S. labor laws, and the Occupational Safety and Health Act (OSHA) * bilingual labor force that speaks and writes Spanish and English * labor force ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merck Sharp & Dohme
Merck & Co., Inc. is an American multinational pharmaceutical company headquartered in Rahway, New Jersey, and is named for Merck Group, founded in Germany in 1668, of whom it was once the American arm. The company does business as Merck Sharp & Dohme or MSD outside the United States and Canada. Merck & Co. was originally established as the American affiliate of Merck Group in 1891. Merck develops and produces medicines, vaccines, biologic therapies and animal health products. It has multiple blockbuster drugs or products each with 2020 revenues including cancer immunotherapy, anti-diabetic medication and vaccines against HPV and chickenpox. The company is ranked 71st on the 2022 ''Fortune'' 500 and 87th on the 2022 ''Forbes'' Global 2000, both based on 2021 revenues. Products The company develops medicines, vaccines, biologic therapies and animal health products. In 2020, the company had 6 blockbuster drugs or products, each with over $1 billion in revenue: ''Keytruda'' (p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Generic Drug
A generic drug is a pharmaceutical drug that contains the same chemical substance as a drug that was originally protected by chemical patents. Generic drugs are allowed for sale after the patents on the original drugs expire. Because the active chemical substance is the same, the medical profile of generics is equivalent in performance. A generic drug has the same active pharmaceutical ingredient (API) as the original, but it may differ in some characteristics such as the manufacturing process, formulation, excipients, color, taste, and packaging. Although they may not be associated with a particular company, generic drugs are usually subject to government regulations in the countries in which they are dispensed. They are labeled with the name of the manufacturer and a generic non-proprietary name such as the United States Adopted Name (USAN) or International Nonproprietary Name (INN) of the drug. A generic drug must contain the same active ingredients as the original brand-name ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wyeth
Wyeth, LLC was an American pharmaceutical company. The company was founded in Philadelphia, Pennsylvania, in 1860 as ''John Wyeth and Brother''. It was later known, in the early 1930s, as American Home Products, before being renamed to Wyeth in 2002. Its headquarters moved to Collegeville, Pennsylvania and Madison, New Jersey, before they were consolidated with Pfizer's in New York City after the 2009 merger. Most of Wyeth's pharmaceutical assets were acquired by Pfizer in 2009, while its infant and maternal nutrition business was acquired by Nestlé in 2012. Wyeth manufactured over-the-counter drugs (OTCs) Robitussin and the analgesic Advil (ibuprofen) as well as prescription drugs Premarin and Effexor. History 1860–1899 In 1860, pharmacists John (1834–1907) and Frank Wyeth opened a drugstore with a small research lab on Walnut Street in Philadelphia. In 1862, on the suggestion of doctors, they began to manufacture large quantities of commonly ordered medicines ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Actavis
Actavis Generics (formerly known as Watson Pharmaceuticals and Actavis plc, prior to the acquisition of Irish-based Allergan, Inc., Allergan Inc) is a global pharmaceutical company focused on acquiring, developing, manufacturing and marketing branded pharmaceuticals, generic drug, generic and over-the-counter medicines, and biologic medical product, biologic products. Actavis has a commercial presence across approximately 100 countries. The company has global headquarters in Dublin, Ireland and administrative headquarters in Parsippany-Troy Hills, New Jersey, United States. Actavis PLC markets brand products through six franchises in key therapeutic categories including: Aesthetics/Dermatology/Plastic Surgery; Neurosciences/CNS; Eye Care; Women's Health and Urology; GI and Cystic Fibrosis; and Cardiovascular Disease and Infectious Disease. The company's products include Botox, Memantine, Namenda, Ciclosporin, Restasis, Linaclotide, Linzess, Nebivolol, Bystolic, Juvederm, Bimatopros ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Warner Chilcott
Warner Chilcott (formerly Galen) was a company in the pharmaceutical industry based in Rockaway, New Jersey. It was primarily focused on women’s healthcare and dermatology. On October 1, 2013, the company was acquired by Actavis (now Allergan). History Predecessor companies Galen In 1968, Sir Allen McClay founded Galen, a sales and marketing organization focused on branded pharmaceutical products in the United Kingdom and the Republic of Ireland. In 1997, the company listed its shares on the London Stock Exchange and the Irish Stock Exchange. Warner Chilcott Warner Chilcott was the generic drug business of Warner–Lambert. In 1996, it was sold to Nale Laboratories P.L.C. In 2004, the company was acquired by several private equity firms. In 2006, it became a public company via an initial public offering. Merger of Galen and Warner Chilcott In 2000, Galen acquired Warner Chilcott and listed its American depositary receipts on NASDAQ. In 2004, the company changed its name fr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Schering Plough
Schering-Plough Corporation was an American pharmaceutical company. It was originally the U.S. subsidiary of the German company Schering AG, which was founded in 1851 by Ernst Christian Friedrich Schering. As a result of nationalization, it became an independent company. In 1971, the Schering Corporation merged with Plough (founded by Memphis area entrepreneur Abe Plough in 1908)"Abe Plough (1892-1984) ," ''Tennessee Encyclopedia of History and Culture,'' online. to form Schering-Plough. On November 4, 2009 Merck & Co. merged with Schering-Plough with the new company taking the name of Merck & Co. Schering-Plough manufactured several pharmaceutical Medication, drugs, the most well-known of which were the allergy drugs Claritin and Clarinex, an anti-cholesterol drug Vytorin, and a brain tumor drug Temodar. These are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Procter & Gamble
The Procter & Gamble Company (P&G) is an American multinational consumer goods corporation headquartered in Cincinnati, Ohio, founded in 1837 by William Procter and James Gamble. It specializes in a wide range of personal health/consumer health, personal care and hygiene products; these products are organized into several segments including beauty; grooming; health care; fabric & home care; and baby, feminine, & family care. Before the sale of Pringles to Kellogg's, its product portfolio also included food, snacks, and beverages. P&G is incorporated in Ohio. In 2014, P&G recorded $83.1 billion in sales. On August 1, 2014, P&G announced it was streamlining the company, dropping and selling off around 100 brands from its product portfolio in order to focus on the remaining 65 brands, which produced 95% of the company's profits. A.G. Lafley, the company's chairman and CEO until October 2015, said the future P&G would be "a much simpler, much less complex company of leadi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pfizer
Pfizer Inc. ( ) is an American multinational pharmaceutical and biotechnology corporation headquartered on 42nd Street in Manhattan, New York City. The company was established in 1849 in New York by two German entrepreneurs, Charles Pfizer (1824–1906) and his cousin Charles F. Erhart (1821–1891). Pfizer develops and produces medicines and vaccines for immunology, oncology, cardiology, endocrinology, and neurology. The company has several blockbuster drugs or products that each generate more than billion in annual revenues. In 2020, 52% of the company's revenues came from the United States, 6% came from each of China and Japan, and 36% came from other countries. Pfizer was a component of the Dow Jones Industrial Average stock market index from 2004 to August 2020. The company ranks 64th on the Fortune 500 and 49th on the Forbes Global 2000. History 1849–1950: Early history Pfizer was founded in 1849 by Charles Pfizer and Charles F. Erhart, two cousins who had i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Patheon
Patheon is a service brand within Thermo Fisher Scientific’s brand portfolio. Contract development and manufacturing organization (CDMO) services offered under the Patheon brand include small molecule API, biologics, viral vectors, cGMP plasmids, formulation, clinical trials solutions, logistics and commercial manufacturing and packaging. In 2017, Patheon was acquired by Thermo Fisher Scientific to form its Pharma Services business. History Patheon was founded in Fort Erie, Ontario in 1974 as Custom Pharmaceuticals Ltd. In 1990, it began to expand to US markets. Custom Pharmaceuticals changed its name to Patheon in 1993 and was first publicly traded that year on the Toronto Stock Exchange. In 2004, Patheon acquired MOVA, a drug manufacturer based in Puerto Rico, US. The deal proved unprofitable, and in 2007, the New York equity firm JLL Partners provided Patheon $150 million to restructure. Two years later, after a failed takeover bid by Lonza Group, JLL Partners bought a cont ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Novartis
Novartis AG is a Swiss-American multinational pharmaceutical corporation based in Basel, Switzerland and Cambridge, Massachusetts, United States (global research).name="novartis.com">https://www.novartis.com/research-development/research-locations It is one of the largest pharmaceutical companies in the world. Novartis manufactures the drugs clozapine (Clozaril), diclofenac (Voltaren; sold to GlaxoSmithKline in 2015 deal), carbamazepine (Tegretol), valsartan (Diovan), imatinib mesylate (Gleevec/Glivec), cyclosporine (Neoral/Sandimmune), letrozole (Femara), methylphenidate (Ritalin; production ceased 2020), terbinafine (Lamisil), deferasirox (Exjade), and others. In March 1996, the companies Ciba-Geigy and Sandoz merged to form Novartis; the pharmaceutical and agrochemical divisions of both companies formed Novartis as an independent entity. Other Ciba-Geigy and Sandoz businesses were sold, or, like Ciba Specialty Chemicals, spun off as independent companies. The Sandoz brand ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mylan
Mylan N.V. was a global generic and specialty pharmaceuticals company. In November 2020, Mylan merged with Upjohn, Pfizer's off-patent medicine division, to form Viatris. Previously, the company was domiciled in the Netherlands, with principal executive offices in Hatfield, Hertfordshire, UKMylan N10-K for the Fiscal Year Ended December 31, 2015/ref> and a "Global Center" in Canonsburg, Pennsylvania, US. In 2007, the company acquired a controlling interest in India-based Matrix Laboratories Limited, a top producer of active pharmaceutical ingredients (APIs) for generic drugs, and the generics business of Germany-based Merck KGaA. Through these acquisitions, the company grew from the third-largest generic and pharmaceuticals company in the United States to the second-largest generic and specialty pharmaceuticals company in the world. Mylan went public on the OTC market in February 1973. It was listed on the NASDAQ, and its shares were a component of the NASDAQ Biotechnology and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
