Caribbean News
CARPHA Meets with Regional Stakeholders to Discuss Post Market Surveillance for Medicines
#Kingston, March 15, 2019 – Jamaica – It is the right of all Caribbean people to have access to healthcare services, including essential quality medicines and pharmaceutical products they can trust. Poor quality and falsified medicines if left unchecked, can reverse progress the Region has made in its fight against diseases.
“We live in a world where medicines are being developed and consumed at an increasingly higher rate; and there are increased findings of substandard and falsified medicines reported to global monitoring systems. We cannot have that proliferated in the Caribbean. Manufacturers are seizing the opportunity to import and flood markets in countries where medicines are of short supply or where the regulatory systems for medicines are weak. Thanks to CARPHA Medicines Quality Control and Surveillance Department (MQCSD) and its efforts to implement a “proactive, risk-based, planned sampling programme” for the post market surveillance of medicines, we are in a position to guard against this,” stated Dr the Honourable Christopher Tufton, Minister of Health, Jamaica.
Minister Tufton was speaking at the opening of the CARPHA Meeting on Post Market Surveillance and the Caribbean Pharmaceutical Policy which is taking place from 12 – 13 March at the conference room of the MQCSD in Kingston, Jamaica.
He went on to say “The importance of the CARPHA MQCSD, as the only accredited medicines quality control laboratory in the English-speaking Caribbean, cannot be over stated. It is to the MQCSD that we now look to implement a Post Marketing Surveillance (PMS) strategy, that is, among other things, to provide test results that confirm the good quality of medicines or otherwise identify problems with them; and provide test results that give the opportunity for national medicines regulatory authorities to evaluate and make decisions on the actual quality of products used in country.”
In closing, Minister Tufton stated “The systematic and emergency monitoring of medicines by CARPHA MQCSD through its PMS strategy, has the support of the Ministry of Health – recognising that its success is dependent on nurtured collaboration among Member States and key stakeholders, and on it being adequately resourced.” Other speakers at the opening ceremony were Dr Virginia Asin-Oostburg, Director, Surveillance, Disease Prevention and Control, CARPHA; Mrs. Jesse Schutt-Aine, Sub-regional Program Coordinator, Caribbean, PAHO/ WHO; and Dr Rudolph Cummings, Programme Manager, Health Sector Development, CARICOM Secretariat.
In her welcome and opening remarks, Dr Virginia Asin-Oostburg, Director, Surveillance, Disease Prevention and Control stated “This is the first meeting CARPHA is hosting with key regional partners of the Post Market Surveillance (PMS) programme that is organised by CARPHA’s Medicines Quality Control and Surveillance Department. We see this as an important milestone for CARPHA and its Member States. Since Jamaica is host country to CARPHA MQCSD, it is more than fitting to experience this milestone with our host. We consider this meeting, a milestone in repositioning what used to be the Drug Testing Laboratory and rebranding the laboratory as the Medicine Quality Control and Surveillance Department that also offers a surveillance programme to our Member States to actively monitor the safety of registered drugs. PMS is a programme developed by MQCSD that will further shape and form in collaboration with our partners and colleagues from Member States.”
The importance of the CARPHA MQCSD as the only ISO/ IEC 17025 accredited medicines quality control laboratory in the English-speaking Caribbean, cannot be over-emphasized. The department has embarked on a post market surveillance programme for medicines, which seeks to monitor the quality of selected medicines circulating in the pharmaceutical markets of participating CARPHA Member States. This will ensure that Member States have access to information which can be utilized to develop evidence-based approaches such as issuing of alerts, implementing risk reduction strategies and overall management of national public health risks.
Given the limited resources and other challenges facing small island developing states such as CARICOM countries, the responsibilities related to regulatory systems are difficult to carry out single-handedly or individually. In collaboration with other partners such as PAHO/WHO, CARPHA MQCSD will function as a critical part of a robust mechanism for regulating medicines in CARICOM.
Mrs. Jesse Schutt-Aine, Sub-regional Program Coordinator, Caribbean, PAHO/ WHO stated “PAHO is happy to be working with CARICOM and CARPHA and Member States on this initiative. Strong regulatory systems are the foundation for strong health systems. A strong health system is what’s needed for universal health, and universal health is essential for the attainment of the sustainable development goals. PAHO has been working on these issues for many years supporting the development of the Caribbean Pharmaceutical Policy, as well as a roadmap for a regional regulatory platform. More recently PAHO has been working closely with CARICOM and CARPHA and Member States to advance the Caribbean Regulatory Systems – the regional regulatory system that is managed by CARPHA. Ms. Schutt-Aine acknowledged “CARPHA as a regional public health platform that is transforming its drug testing laboratory into something that can enhance post market surveillance in the Region through risk based sampling of products in Caribbean markets.”
The introduction of the new surveillance programme will allow CARPHA MQCSD laboratory to monitor medicines such as those used for the control of non-communicable diseases and other medicines. This programme is aligned with CARICOM’s strategy of advancing initiatives for health and wellness by ensuring access to safe, reliable medicines thereby improving the quality of life of the Region. The Caribbean region will have access to information to undertake evidence-based approaches to enable warning, risk reduction and management of national public health risks.
Speaking at the opening, Dr Rudolph Cummings, Programme Manager, Health Sector Development, CARICOM Secretariat said, “The Medicines Quality Control and Surveillance Department needs to be complemented for the tremendous work that it has done to prepare for this meeting and in positioning itself to support the efforts require for a successful regional pharmacovigilance program.”
Access to healthcare and essential quality medicines and pharmaceutical products is critical for the Caribbean population’s well-being and optimal health. Through dossier evaluation and pre-marketing quality control of generic medicines for the purpose of registration, some countries are ensuring that quality medicines are on the market.
At the closing of the opening ceremony, Ms. Sonia Thomas-Gordon, Acting Head/Senior Chemist, CARPHA MQCSD, in her vote of thanks, acknowledged the commitment and endorsement by partners and participants to the MQCSD post surveillance programme. She said “Post market is a small component of pharmacovigilance, and the laboratory component is important. What we are trying to do is be proactive and monitor those medicines that are on the market. Most Member States do not have capacity to monitor and we are hoping to bridge the gap to have one central area, where medicines come to us for testing and we issue the results.”
The 2-day meeting will seek to sensitize CARICOM’s Technical Advisory Committee on Pharmaceutical Policy (TECHPHARM) and Caribbean Regulatory Systems (CRS) focal points on MQCSD’s post market surveillance program with a view to strengthen regional integration and partnerships for sustainable development of the programme. The meeting will also aim to reaffirm the role of TECHPHARM in regional PMS and as a Technical Advisory Committee (TAC) to MQCSD. Also, down for discussion are the acknowledgement and endorsement of MQCSD’s PMS Strategy and Field Guide.
More information about the CARPHA MQCSD can found http://carpha.org/MQCSD.
By Deandrea Hamilton | Editor
September 28, 2026 – Wall Street initially flinched at the $3-billion handshake. But in a matter of days, it was smoother sailing.
Perhaps the bigger Caribbean business story is not what Sandals Resorts International is getting from the deal. It is who is writing the
cheque — and what that says about what Gordon “Butch” Stewart built.
As reports of Royal Caribbean Group’s Sandals deal circulated Tuesday, RCL shares plunged 6.14 percent from Monday’s $250.25 close to $234.89, on sharply elevated trading.
When the agreement became official Wednesday — approximately $3 billion for a 50 percent equity interest in Sandals and Beaches Resorts — shares slipped another 1.95 percent to $230.30 and touched $222.22 intraday. Investors were digesting both the size of the investment and committed debt financing secured through Morgan Stanley.
But by Thursday, RCL rebounded 3.77 percent, with shares continuing their recovery Friday to finish the week around $243. Analysts were also looking ahead: JPMorgan reportedly raised its RCL price target from $345 to $394, while Citi placed the company on a 90-day positive catalyst watch.
And just who is RCL?
Royal Caribbean Group is a global vacation giant, publicly traded on the New York Stock Exchange with a market value of roughly $65 billion. Its portfolio includes Royal Caribbean International, Celebrity Cruises and Silversea, alongside private destinations and an
expanding vacation platform.
So when a company of that scale commits $3 billion for only half of Sandals and Beaches Resorts, the transaction puts a striking financial marker on one of the Caribbean’s greatest home-grown hospitality success stories.
The deal, expected to close in early 2027, creates a 50-50 partnership with the Stewart family and takes Royal Caribbean deeper into the all-inclusive resort business.
Butch Stewart started Sandals in Jamaica in 1981 believing a Caribbean company could compete with the world’s best.
Forty-five years later, one of the world’s biggest vacation companies is prepared to pay $3 billion just to own half of what he built.
Now that’s the handshake that does more than seal a deal — it cements a legacy.
Caribbean News
Royal Caribbean Group and Sandals Resorts Announce Landmark Partnership to Accelerate Their Leading Vacation Experiences
Royal Caribbean Group Investment to Advance Sandals and Beaches’ Growth and Broaden the Group’s Vacation Portfolio
Montego Bay, Jamaica and Miami, September 24, 2026 – Royal Caribbean Group (NYSE: RCL) and Sandals Resorts today announced the signing of an agreement to form a partnership in the all-inclusive resort space with a 50% investment from Royal Caribbean Group. Building on Sandals and Beaches Resorts’ more than four decades of leadership in Caribbean hospitality, the joint venture will create new opportunities for continued resort growth while broadening the experiences across Royal Caribbean Group’s vacation platform.
The partnership brings together two of the travel industry’s most celebrated vacation companies, pairing Sandals and Beaches’ all-inclusive resort expertise with Royal Caribbean Group’s vacation platform, including industry-leading brands – Royal Caribbean, Celebrity Cruises and Silversea – a portfolio of private destinations, new river cruising offering, and an industry-first loyalty program. United in a shared history in the Caribbean and connected by a love for their communities, the companies will offer travelers an unparalleled collection of cruise, private destination and resort experiences, serving guests across more vacation occasions and establishing their undisputed leadership in Caribbean vacations.
The joint venture expands Royal Caribbean Group into an adjacent vacation category, growing its participation in the approximately $2 trillion global vacation market, and meets the growing global demand for Sandals and Beaches Resorts by accelerating their expansion. The partnership will include Sandals and Beaches’ collection of premier all-inclusive properties across the Caribbean, and the companies will explore opportunities to broaden distribution, deepen guest engagement, and make it easier for travelers to discover vacation experiences offered across both portfolios.
“For nearly 60 years, we’ve reimagined what a vacation can be, constantly expanding the ways we inspire our guests to explore, connect and create lifelong memories,” said Jason Liberty, Chairman and CEO, Royal Caribbean Group. “We have been building a vacation platform that brings joy to millions of people around the world and creates meaningful relationships that last with our guests. Our partnership with
Sandals and Beaches Resorts is an important next step on that journey – bringing together two iconic leading vacation companies to further strengthen and grow one of the most admired resort portfolios in the world. The Stewart family has created powerful and beloved brands, and we are honored to build on that legacy. Together, we see tremendous opportunity to expand the reach of Sandals and Beaches Resorts and continue turning the vacation of a lifetime into a lifetime of vacations.”
“My father, Gordon ‘Butch’ Stewart, founded Sandals Resorts with the belief that a company built in the Caribbean could stand on the world stage alongside the most respected names in hospitality. Today is proof of how far that vision can go,” said Adam Stewart, Executive Chairman of Sandals Resorts and Beaches Resorts. “This partnership is the natural next step in building on that conviction. It gives us the ability to grow faster with a partner that shares our values of exceptional hospitality, long-term investment, and the power of enduring brands. Together, we will introduce more guests to Sandals and Beaches Resorts while creating even more extraordinary experiences for those who have made our resorts part of their lives for decades.” Stewart added, “As we continue to grow, we will remain true to what has always defined us: delivering authentic vacations that exceed expectations while creating opportunities for our team members, travel advisor partners and the communities we call home. The future has never been brighter, and I know this moment would make my father incredibly proud.”
The joint venture will be governed by a board under the shared leadership of Stewart and Liberty. Stewart will maintain a leadership role in
guiding the company’s long-term strategic growth as Executive Chairman of Sandals and Beaches Resorts. Existing reservations, loyalty programs, resort operations and cruise operations will continue as usual, with the partnership bringing additional resources to support future opportunities.
Under the terms of the agreement, Royal Caribbean Group will acquire a 50% equity interest in Sandals and Beaches Resorts for approximately $3 billion, representing a forward EBITDA multiple of approximately 10x. Royal Caribbean Group has secured committed debt financing from Morgan Stanley to fund the investment. The transaction is expected to close in early 2027, subject to customary approvals and closing conditions, and is expected to be accretive to earnings next year.
BofA Securities and PJT Partners acted as financial advisors, and Latham & Watkins and Jones Day acted as legal advisors to the Sandals Group. Perella Weinberg Partners and Morgan Stanley acted as financial advisors and Kirkland & Ellis LLP acted as legal advisor to Royal Caribbean Group.
PHOTO CAPTION: Jason Liberty, Chairman and CEO of Royal Caribbean Group, and Adam Stewart, Executive Chairman of Sandals Resorts, mark the signing of an agreement to form a landmark partnership that expands Royal Caribbean Group into the all-inclusive resort space and supports the future growth of Sandals and Beaches Resorts. The signing took place at Royal Caribbean Group’s new headquarters in Miami, with the city’s skyline in the background.
The Caribbean tourism deal first reported as a possibility on Tuesday is now a signed agreement. Royal Caribbean Group plans to pay
approximately US$3 billion for a 50% stake in Sandals and Beaches Resorts, putting the value of the business at about US$6 billion. The purchase is expected to close in early 2027, subject to approvals.
Founded in Jamaica by the late Gordon “Butch” Stewart in 1981, the resort business has a presence across nine Caribbean destinations, including Jamaica, The Bahamas and Turks and Caicos. Sandals has described its workforce as nearly 20,000 people, most of them Caribbean nationals.
“My father, Gordon ‘Butch’ Stewart, founded Sandals Resorts with the belief that a company built in the Caribbean could stand on the world stage alongside the most respected names in hospitality,” said Adam Stewart in the announcement carried by PR Newswire. He will remain executive chairman, while the Stewart family retains a stake. The companies say existing reservations and resort operations will continue as usual.
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