Puerto Rico Governor Backs Tax-Incentive Bill for Drugmakers

Federal bill would offer new tax breaks to pharmaceutical companies that move to or expand in some of the island’s most impoverished regions.

• Tax breaks would be from 40% to 60% on qualified expenses including payroll and benefits
• Bill to be presented by end of week
• In joint statement Tuesday, Governor Wanda Vazquez and the island’s non-voting representative in the House, Jenniffer Gonzalez, said the bill is one of several that are seeking to bring pharmaceutical production back to the U.S. amid the coronavirus crisis
• Any incentive Puerto Rico offers to companies “will be tied to job creation and economic ...