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DDEC revokes tax decree for Romark due to multiple violations

The pharmaceutical company failed to meet its employment and investment commitments and closed its operations more than a year ago without notifying the government

August 26, 2025 - 12:38 PM

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Romark Global Pharma arrived in Puerto Rico in 2014, and upon entering Puerto Rican territory, Marc Ayers, the company's president, promised to research and develop medicines. The pharmaceutical company closed its doors without warning in July 2024, owing millions of dollars to business partners and employees. (Carlos Rivera Giusti)

By Efraín Montalbán Ríos

Periodista de Negociosefrain.montalban@gfrmedia.com

After years of non-compliance and the surprise closure of operations, the Department of Economic Development and Commerce (DDEC) revoked the tax decree granted to biopharmaceutical company Romark Global Pharma, according to DDEC Secretary Sebastián Negrón Reichard.