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Pharmaceutical

Mexican pharma company Neolpharma buys Pfizer plant in Puerto Rico

October 18, 2012
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CAGUAS, Puerto Rico — Mexican pharmaceutical company Neolpharma has purchased a Puerto Rico factory owned by Pfizer that was set to close at the end of 2012, Fox News Latino reported.

The 130,000-square-foot facility is located in Caguas, a suburb of San Juan.

Neolpharma said it plans to retain 130 of the plant’s existing staff and will hire another 60 temporary employees.

RELATED: Pfizer to cut workforce in response to slowing demand for Lipitor

"The sale of the facility in Caguas is a positive result for our colleagues, the Caguas community and for Pfizer," said John Kelly, Pfizer Global Supply’s vice president of strategy and transitioning sites.

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