Romark Plans $110 Million Investment in Puerto RicoBy
Romark Laboratories, a pharmaceutical company developing small molecules for treating infectious diseases and cancers, plans to invest $110 million in manufacturing and research and development facilities in Manati, Puerto Rico, according to the Puerto Rico Industrial Development Company (PRIDCO). The new facilities will employ approximately 200 people over the next three years.
Romark Laboratories will develop the new manufacturing operation in the northern municipality of Manati, where research and development activities will also take place. Construction should begin in January 2015 and operations by the first half of 2016.
During its operational phase, the company will manufacture worldwide requirements for its existing Alinia product and for its NT-300 product, a new product in development for influenza, which it expects to launch by 2016. Alinia (nitazoxanide) is an thiazolide approved by the US Food and Drug Administration for the treatment of diarrhea caused by Cryptosporidium and Giardia.