Hurricane Maria Aims at Island Hotbed of Medical ManufacturingBy
It’s not just Puerto Rico’s resorts and beaches that are in the path of Hurricane Maria. The island’s heavy concentration of drug and medical-device manufacturing plants are also in the way of the huge storm.
The island’s perimeter is home to facilities for Johnson & Johnson, Pfizer Inc., Amgen Inc., Merck & Co., Medtronic Plc, Abbott Laboratories, Stryker Corp., and dozens of other drug and device firms, according to Mike Weinstein, a medical technology analyst at JPMorgan Chase & Co. in New York. Maria is forecast to directly hit Puerto Rico Wednesday morning.
Medical companies originally put plants on the island because of tax incentives. As the hurricane nears, there is “no shortage of companies potentially exposed,” said Weinstein.