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MYLAN PUERTO RICO MANUFACTURING PLANT

Executive Summary

MYLAN PUERTO RICO MANUFACTURING PLANT is expected "to become operational in approximately 12 months": the tax/profit benefits should begin accruing to Mylan "during the third and fourth quarters of [the company's] fiscal year ending March 31, 1988." Mylan announced plans for the new facility as part of groundbreaking ceremonies on Oct. 8. The firm is building a 50,000 square foot pharmacuetical manufacturing plant on ten acres of land in Caguas, Puerto Rico, 20 miles south of San Juan. Mylan is at least the third generic firm to take advantage of tax benefits through Puerto Rican operations. Bolar built a 22,000 square foot plant in Humacao, Puerto Rico, in 1984, which was expanded an additional 32,000 square feet in 1985 ("The Pink Sheet" Feb. 24, 1985, In Brief). In January, Zenith announced plans to expand its manufacturing facilities in Cidra, Puerto Rico through the acquisition of a 70,000 square foot plant ("The Pink Sheet" Jan. 20, T&G-2). Mylan noted that the new Puerto Rican plant will cost between $7 and $8 mil. The product line for Puerto Rican production has not been set, Mylan said. The plant will be equipped to manufacture both tablet and capsule products.

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