US EXPERT HIGHLIGHTS PUERTO RICO BIOTECH R&D SECTOR

The director of the US National Institutes of Health (NIH), Elías Zerhouni, has highlighted the potential of Puerto Rico in biotech research. During a meeting with local officials, Zerhouni noted that last year NIH directly contributed US$60mn in R&D spending to Puerto Rico.

Further, it was suggested that this investment could reach US$80mn within a few years. This would represent a significant share of NIH's budget, although at present Puerto Rico ranks 41st among US states and territories in terms of NIH spending.

It was also suggested that the island's location and Hispanic population have distinctive benefits from the point of view of research into tropical diseases and clinical trials. Nevertheless, this pales into insignificance compared to multinational sector investment in local manufacturing, although it is hoped that a series of tax reforms will make local R&D a more attractive prospect.