PHILAB HOLDINGS Corp. said on Thursday its subsidiary has partnered with Italy-based Industria Macchine Automatiche S.p.A (IMA) to distribute automated machineries for the processing and packaging of pharmaceutical products in the Philippines.
In a statement, the listed health care company said Philab Industries Inc. is now the exclusive distributor of IMA pharma machines in the country. It has already sold several units to Pascual Labs and Amherst Laboratories Inc. (UNILAB) since its partnership began.
“It is important for our big pharma companies to use high technology equipment in producing large quantity of quality and consistent tablets and capsules to offer the Philippine market. This is where the expertise of IMA comes in with more than 50 years of reputation in the global pharma industry. Philab pursued this partnership to successfully satisfy the rising demands of the pharma industry,” Paolo Cagalingan, executive vice president of sales and business development, said in a statement.
Maurizio Ferretti, managing director of IMA Pacific Co. Ltd., said the company picked Philab as the sole distributor of its equipment due to its strong performance and reputation.
“We are hopeful that Philab would effectively capture the needs of the Philippine market,” Mr. Ferretti said.
For the first nine months of 2017, Philab narrowed its net loss attributable to the parent to P107 million versus a loss of P860 million from year-ago levels. Revenues were recorded at P155 million for the period.
