The world's largest drug manufacturer Pfizer plans to close one of its manufacturing plants in Puerto Rico by 2017.
AP reports that the plant to be closed is in the north coastal city of Barceloneta. The city was once regarded as a major centre of pharmaceutical production.
According to the company, the decision to close the facility can be partly explained by improved manufacturing efficiency as well as the loss of patent exclusivity.
It is not yet known how many employees will lose their jobs. Pfizer currently employs about 2,700 people in Puerto Rico. This figure includes those working at its three plants as well as office staff.
In September, Pfizer Australia announced that it would shut its manufacturing plant in Sydney in 2015. The plant currently produces tablets and capsules for humans and animals.
The company currently has an Australian workforce of more than 1600 people. There are no plans to shut Pfizer Australia’s other manufacturing plant in Perth.