Puerto Rico governor lures U.S. biotechs |
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Thu, 18 Jan 2007 07:25
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SAN JUAN, Puerto Rico (AFX) - Gov. Anibal Acevedo Vila traveled to California on Wednesday to encourage biotechnology research companies to open branches in Puerto Rico to help the U.S. territory diversify its economy.Acevedo Vila led a group of Puerto Rican economists and university officials on a tour of the biotechnology hub around San Francisco, the governor's office said in a statement. He was scheduled to meet with members of the nonprofit trade association, BayBio, and biotech drug maker Genentech Inc.Many of the California research companies are developing so-called biological drugs to combat diseases. These drugs are often derived from genetically engineered microbes, rather than chemicals used in traditional pharmaceuticals.Acevedo has said he is trying to shift the economy of Puerto Rico -- a major pharmaceutical manufacturing hub -- toward research and development. He returns to the island Saturday.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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