The Pharmaceutical Industry Association of Puerto Rico gathers and represents research-based multinational pharmaceutical and biotechnology companies with operations in Puerto Rico. These are 19 corporations organized in 33 manufacturing operations with 17 commercial entities and 6 corporate offices, each represented in PIA-PR by its respective General Manager. The association is led by a twelve Board members currently chaired by Merck Sharp & Dohme Vice President Puerto Rico Operations, Daneris Fernández. The association’s Executive Vice President is Agustín Márquez-Veglio. There are 14 permanent committees and various ad-hoc committees. The permanent committees are (1) Board; (2) Commercial; (3) Communications & Public Relations; (4) Environmental, Health & Safety; (5) Finance; (6) Human Resources; (7) Manufacturing; (8) Medical; (9) Managed Care; (10) Purchasing; (11) Quality Assurance; (12) Security; (13) Technology; and, (14) Over the Counter. These committees meet on a monthly basis and the entire association convenes at its annual convention's general assembly.

As of 2006, the pharmaceutical industry generates around 30,000 direct jobs in Puerto Rico. This represents 26% of the island's total employment in manufacturing. In addition, the pharmaceutical industry provides a major market for other island industries, small businesses and professional organizations that provide an ample range of goods and services including manufacturing components; food services; architectural design, and engineering; medical, legal and banking services; insurance; transportation; communication; and tourism, among others. In terms of employment, the sector's activity generates over 100,000 indirect and induced jobs in the rest of the economy. The impact of the pharmaceutical industry on the local economy is also evident through its payroll. Currently, the average wage among production workers is among the highest salaries paid in Puerto Rico. The pharmaceutical industry represents 24% of the Island’s Gross Domestic Product. And, in 2006, Puerto Rico exports in the pharmaceutical industry represented 60% of all exported commodities.

Furthermore, the pharmaceutical industry’s commitment to research and development has generated breakthrough medicines and vaccines that have played a central role in this century’s unprecedented progress in the treatment of fatal disease. Leading causes of death have been eliminated and citizens of all ages enjoy a vastly increased life expectancy and improved health. New medicines are not only saving lives, they are saving precious healthcare resources by replacing more costly intervention.