The Philippines is ready to serve as a production base for Japanese pharmaceutical companies, the Department of Trade and Industry (DTI) said.
“As our country prepares the environment and standards through the implementation of ASEAN harmonization and other initiatives for good manufacturing practice, the Philippines can be a good production base for Japanese companies’ pharmaceutical exports,” Trade Undersecretary and Board of Investments (BoI) Managing Head Ceferino S. Rodolfo said in a statement Friday.
“With the developments in health insurance schemes, health systems, and increasing investment in public health, the Philippines can serve as (a major market) for pharmaceutical products,” he added.
Takashi Kunieda, director-general of the Kansai Pharmaceutical Industries Association, a trade group for companies based in south-central Honshu, said there is “great interest” from Japanese companies in the Philippine pharmaceutical market.
“We believe that your country is an attractive business destination, and we hope that more Japanese pharmaceutical companies will operate in the Philippines. We also wish to deepen our cooperation for this industry.”
Evariste M. Cagatan, the BoI’s Manufacturing Industries Service director, said: “Foremost of our priorities is investment in the manufacture of vaccines and biologicals (to attain) a certain level of security to address current and future health emergencies and pandemics. We would welcome investment in vaccine manufacturing, even starting only with fill and finish or form and finish operations before going to further processing,” she said.
“We have prospective Filipino groups which are looking for technical partners or equity partners who would be happy to be introduced to those who are seriously interested in this field. We are also encouraging investment in essential medicines especially for the most common illnesses of Filipinos which include diabetes, hypertension, kidney and heart diseases, and cancer,” she said. — Arjay L. Balinbin
