INDUNIV, an organization that for 38 years has been the voice of the bioscience industry in Puerto Rico, will represent the island at the BIO International Convention,” in Boston from June 4-7.
INDUNIV, which stands for Industry University Research Center, will deliver several key messages during its participation, including the island’s status post-Hurricane María and the effects of the changes to the federal tax system.
The event is expected to draw 76 countries, 1,800 exhibitors and more than 16,000 biotech sector executives and professionals.
“Our presence there is more crucial than ever. It is imperative that we carry out the message that Puerto Rico continues to be a leader in pharmaceutical biotechnology, medical devices and bio agriculture and that our doors are open for new corporations, researchers and investors,” said José E. Vidal, chairman of INDUNIV’s Board.
“After María, we have to show strength to world class investors,” said Vidal, adding that the biosciences industry represents 32 percent of Puerto Rico’s GDP, some 36 percent of the island’s industrial jobs, and 52.7 percent of Puerto Rico’s exports.
INDUNIV and BIO President James C. Greenwood invited Gov. Ricardo Rosselló, to join this effort and be an ambassador of the island in this global event.
“Rosselló has a doctoral degree in Biomedical Engineering and Neurosciences. Being the only governor with this academic background allows him to talk one on one with scientists, investors and industry leaders,” said Iván Lugo-Montes, executive director of INDUNIV.
“It can be a big advantage over other jurisdictions so that the world can focus on Puerto Rico as an investment destination,” said Lugo-Montes.
INDUNIV supports and advances the fields of pharmaceutical development and biosciences, facilitates collaboration between industry, government and academia, and develops strategies to back public policy with BIO’s support.
“Due to all the challenges our island is facing, this year is important showcase Puerto Rico to the world,” Vidal said.
“Thanks to the private sector’s contribution, we can afford the Puerto Rico Pavilion in this huge scenario where we are competing with the most important countries in the world and all 50 states, Asia, European countries, India, and Latin America are represented in this event,” Vidal said.
“In times of crisis we must show a united front especially after so much negative coverage following María and the Trump Tax,” said Vidal.
With more than 50 years of experience in bio pharmaceutical industries and with 11 of the 20 best-selling drugs in the United States manufactured on the island, Puerto Rico has been a global biotechnology center, even before the term became popular. Five of the 10 most used biotechnology products in the world are manufactured in Puerto Rico.