COVID-19 response should include stronger tobacco control, experts say

August 25, 2021 | 12:04 am

WITH SMOKERS at higher risk of developing severe coronavirus disease 2019 (COVID-19) symptoms, the Philippines needs stronger smoking cessation campaigns and stricter implementation of existing tobacco policies as part of its COVID-19 response, according to public health experts.

“Smoking can create comorbidities. It increases risk of heart problems and COPD (chronic obstructive pulmonary disease). It could lead to lower resistance to infections like COVID-19,” said Dr. Glynna Ong-Cabrera, chair of the Philippine College of Chest Physicians’ Council on the Control of Tobacco and Air Pollution, in a public health forum this August.

In addition to at least 70 chemicals in cigarettes known to cause cancer, she warned that the act of smoking itself increases the risk of getting COVID-19: “When people smoke, they have to remove their mask and face shield, touch the cigarette, and put it into their mouth.”

Considering the surge in COVID-19 cases, doctors urged the government to step in. “Tobacco products are very addictive, so even under economic stress, people still find it very hard to quit. It’s not just up to the person,” said Dr. Anton Oliver M. Javier, technical and policy committee member of the Philippine Society of Public Health Physicians. “Government, within reasonable limits, should use its power to regulate such products.”

The Department of Health and Civil Service Commission’s Joint Memorandum Circular 2010-01, which prevents the tobacco industry from interfering in policy-making, should be strengthened, according to panelists.

“Tobacco industry interference is meant to clean the image of the tobacco industry through their donations to the government, but it’s minimal compared to the economic costs brought by their effects,” said Sophia Monica V. San Luis, executive director of the law group ImagineLaw.

The Tobacco Atlas reported in 2018 that the economic cost of smoking in the Philippines amounts to P269,326 million, which includes direct costs of healthcare expenses and indirect costs from lost productivity.

Ms. San Luis also called for the stricter implementation of Republic Act No. 9211, or the Tobacco Regulation Act of 2003, which regulates smoking in public places and restricts tobacco advertising, promotion, and sales. This includes online selling of tobacco products, which doctors said is a problem during the pandemic.

Even children are suffering, said Dr. Rizalina Racquel H. Gonzalez, chair of the Philippine Pediatric Society’s tobacco control advocacy group, who talked about the adverse effects of secondhand smoke on kids and the dangers of picking up the habit at a young age.

“It is alarming that even with the pandemic, the tobacco industry continues to market their products aggressively, even online, attracting our youth to regularly use tobacco products and all its forms,” she said. — Brontë H. Lacsamana

Cebu Pacific to strictly enforce one carry-on baggage policy

August 25, 2021 | 12:03 am

BUDGET carrier Cebu Pacific said on Tuesday that fees will be collected from passengers who violate its “one carry-on baggage policy” beginning Sept. 1.

“Beginning on Sept. 1, 2021, guests who do not comply with this rule will be charged with a gate baggage fee of P1,000 per person for domestic flights,” Cebu Pacific said in an e-mailed statement.

“In the coming months, the airline will also begin charging for its international flights — P1,500 for short haul and P3,000 for long haul,” it added.

But passengers who bought additional items at the airport are exempted from this rule. They should show the official receipt from the store where they bought the items, the airline said.

“Other items that will be accepted as extra free hand carry are equipment for medical needs or for infants,” it added.

The low-cost carrier said the strict implementation of the policy aims to improve its processes for a “more efficient and seamless” customer experience.

The airline’s rule states that a carry-on bag must not exceed seven kilograms in weight, and its size must fit in the overhead bin or under the aircraft seat.

The airline also reminded its passengers to follow its contactless flight guidelines. Cashless payments are encouraged.

“This is being done to make sure [Cebu Pacific] avoids any unnecessary flight delays as much as possible,” said Candice A. Iyog, Cebu Pacific vice-president for marketing and customer service. — Arjay L. Balinbin

BSP sets guidelines for fines on banks’ transactional violations

August 25, 2021 | 12:03 am

CIRCULAR 1125 sets a maximum P1-million penalty for each transactional violation committed by a bank. — BW FILE PHOTO

THE CENTRAL BANK has released its rules on fines for transactional violations of lenders as part of its supervisory authority and to instill accountability among lenders and their officials.

Circular 1125 signed by Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno sets a maximum P1-million penalty for each transactional violation committed by a bank.

The cap was based on the provisions of Republic Act 11211, which amended the New Central Bank Act. Prior to this, the corresponding penalty was set at P30,000 per day for each violation.

The circular also gives a 15-day period for filing an appeal after a penalty decision from the Monetary Board.

Transactional violations include doing an act or an omission, which is considered a violation of a law or any order by the BSP. Under the New Central Bank Act, violations include willful delay in submitting required reports and publications, refusal to permit examination regarding the affairs of the financial institution, making false or misleading statement to the BSP, and refusal to comply with regulations set by the central bank.

Under licensing-related activities, a transactional violation happens when a financial institution engages in an activity prior to obtaining qualified assessment and approval from the BSP for such engagement.

“The BSP recognizes the need to impose penalties as one of the possible administrative sanctions to hold BSP-supervised financial institutions accountable for their conduct, deter future commission of violations, and achieve the overarching supervisory objectives of changed behavior and mitigated risks,” the circular said.

“To ensure fairness, consistency and reasonableness in the imposition of monetary penalties, the BSP takes into consideration the attendant circumstances of each case, such as the nature and gravity of the violation or irregularity and the size of the financial institution, including other aggravating and mitigating factors,” the BSP said.

Meanwhile, banks will be fined P100,000 per calendar day as penalties for continuing violations. Under licensing-related activities, these are acts that financial institutions continue to engage in even when they were assessed to be not qualified under BSP criteria to perform such activities.

BSP departments concerned with the respective violations will inform banks about their violations and a directive allowing them to file an appeal within 15 banking days on why they should not be subjected for the fines.

Despite this room to file for an appeal, financial institutions are expected to settle payments for the penalties within 15 days from the last day to file an appeal for the original penalty imposed by the Monetary Board. This amount, if unpaid within the window period, will automatically be debited from the demand deposit account kept by financial institutions with the BSP. — Luz Wendy T. Noble

Sex Pistols’ Johnny Rotten loses court battle over songs in TV show

August 25, 2021 | 12:03 am

LONDON — Former Sex Pistols front-man John Lydon lost his legal battle on Monday to prevent other members from using their music in a planned television series about the rise of the punk rock band which shocked Britain and the world in the 1970s. A judge in England’s High Court ruled that Mr. Lydon, who performed in the band as Johnny Rotten, could be outvoted by other former band members under the terms of an agreement they reached in 1998. Guitarist Steve Jones and drummer Paul Cook brought the case to force Mr. Lydon, 65, to allow songs recorded by the band to be used in the series. It is based on Mr. Jones’s memoirs and is being directed by Danny Boyle whose films include Slumdog Millionaire. The judge rejected claims by Mr. Lydon’s lawyer that the majority vote had reduced the singer to “some sort of servile state,” and said it was in fact “relatively straightforward.” The series called Pistol, which is being made by Disney, is scheduled to air next year. — Reuters

Researchers seek powerful antibody against variants

August 25, 2021 | 12:03 am

Coronavirus._SARS-CoV-2 — Alexey Solodovnikov, Valeria Arkhipova/CC BY-SA 4.0/Wikimedia Commons

HERE IS a summary of some recent studies on coronavirus disease 2019 (COVID-19). They include research that warrants further study to corroborate the findings and that have yet to be certified by peer review.

RESEARCHERS WORKING TOWARD ONE VACCINE FOR MANY VARIANTS
Two separate research teams last week reported on laboratory tests of monoclonal antibodies that appear to protect against a broad range of COVID-19 virus variants. One study, published on Wednesday in The New England Journal of Medicine, identified “high-level, broad-spectrum” antibodies in blood samples from survivors of the original SARS outbreak in 2003 who recently received the Pfizer/BioNTech vaccine against SARS-CoV-2, the virus that causes COVID-19.

In test tube experiments, some of the SARS survivors’ antibodies induced by the vaccine could neutralize not only all of the current SARS-CoV-2 variants of concern, but also five viruses that have been identified in bats and pangolins and that have the potential to cause human infection. In a separate study, published on Thursday in the journal Immunity, another research team describes an antibody that was highly protective at low doses against a wide range of COVID-19-causing variants in mice.

“The antibody attaches to a part of the virus that differs little across the variants, meaning that it is unlikely for resistance to arise at this spot,” the authors said. The findings from these studies could be a step toward developing new antibodies that would be effective against multiple different coronaviruses, the two teams say.

INFECTIOUS VIRUS SHEDDING MAY BE LOWER IN BREAKTHROUGH CASES
Vaccinated people who get infected with COVID-19 have high levels of the virus in their noses and throats but not all of that virus is infectious, a new study suggests.

Among 24,706 vaccinated healthcare workers in The Netherlands, 161 developed mild or asymptomatic breakthrough infections, mostly due to the Delta variant of the coronavirus. The viral levels on nose-and-throat swab samples from these patients were just as high as in unvaccinated healthcare workers who were infected last year with the original strain of the virus.

But in test tube experiments, the virus from vaccinated patients was less efficient at reproducing itself than virus from unvaccinated patients, probably because some of it had been neutralized by antibodies from the vaccine, the researchers speculate.

In a report posted on medRxiv on Saturday ahead of peer review, they conclude that shedding of infectious virus is reduced in breakthrough cases, although patients are still contagious.

ANTIBODIES FADE FASTER AFTER VACCINE VS ACTUAL INFECTION
Protective antibody levels decline faster in recipients of the mRNA COVID-19 vaccine from Pfizer/BioNTech than in COVID-19 survivors, according to doctors at one of Israel’s largest health maintenance organizations.

They tracked antibody levels in 2,653 adults who received two doses of the vaccine and in 4,361 COVID-19 survivors who were never vaccinated. Antibody levels fell by up to 40% per month in vaccinated participants, versus less than 5% per month in so-called convalescents.

After six months, about 84% of vaccine recipients still had detectable antibodies, whereas roughly 90% of convalescents still had detectable antibodies after nine months.

Dr. Ariel Israel of Leumit Health Services, coauthor of a reported posted on Sunday on medRxiv ahead of peer review, noted that antibodies are not the immune system’s only weapon against the virus. Still, he said, the data suggests that antibody protection in Pfizer vaccine recipients wanes at a higher rate than in COVID-19 survivors.

Leumit researchers had previously reported that breakthrough infection rates increase starting about five months after vaccination. Dr. Israel said the combined data argues for a booster shot five months after the second injection, especially for high-risk individuals. — Reuters

Sta. Lucia Land’s income surges to P515M

August 25, 2021 | 12:02 am

Sta Lucia Land, Inc.’s (SLI) net income in the second quarter doubled to P514.98 million from P259.18 million year on year as revenues for the period also surged by 77%.

In a regulatory filing, the listed property developer reported revenues worth P1.66 billion, up from the P937.97 million it earned last year with higher real estate sales, rental income, and commission income.

For the six-month period, SLI’s net income climbed 90% to P1.44 billion from P757 million a year ago driven by an improvement in revenues.

“Improvement in our financial results was driven basically by sales of residential lots which has shown resilience during the pandemic,” David M. Dela Cruz, chief financial officer at SLI, said in a statement on Tuesday.

Sta. Lucia Land’s revenues amounted to P3.97 billion, 63% higher than its P2.4-billion profits last year. The property developer also noted that the CREATE (Corporate Recovery and Tax Incentives for Enterprises) led to a decrease in its income tax expense, which partially offset a higher cost and operating expenses.

It currently has 115 ongoing projects, 60 of which are located in the CALABARZON region. Meanwhile, 25 developments are in Davao and the rest are located across seven other regions.

The company said since its projects are located outside major business districts, these “have become more practical,” with larger spaces, and are said to be more affordable. These locations are also said to be the “ultimate beneficiaries” of the country’s infrastructure program, which would allow better access to areas across the country.

SLI shares at the stock market closed unchanged at P3.04 apiece on Tuesday. — Keren Concepcion G. Valmonte

Gov’t rejects all bids for Treasury bonds on ‘unreasonably’ high rates

August 25, 2021 | 12:02 am

THE GOVERNMENT rejected all bids for its offer of reissued Treasury bonds (T-bonds) on Tuesday as yields shot up amid taper talks by the US Federal Reserve (Fed).

The Bureau of the Treasury (BTr) rejected all tenders up for the reissued 20-year T-bonds that have a remaining life of 11 years and seven months.

The BTr did not accept any bids even as the auction saw P46.122 billion in total bids, which was more than the P30 billion on offer, but much smaller than the P65.265 billion tenders seen when the papers were previously offered on June 29.

Had it made a full P30-billion award, the notes would have fetched an average rate of 4.533%, or a jump of 34.6 basis points (bps) from the 4.187% rate logged in the past auction.

The yield would also be higher by 41.1 bps than the 10-year tenor’s rate of 4.122% at the secondary market, which was the closest benchmark tenor to the remaining life of the reissued 20-year papers on the auction block.

National Treasurer Rosalia V. de Leon said they decided to make a full rejection of the bids after rates sought by investors were “unreasonably way above the secondary levels.”

Ms. De Leon told reporters via Viber that markets were probably pricing in the possibility that the Fed might start scaling down its bond purchases as seen in the minutes released from the policy meeting last month.

Minutes of the July 27-28 meeting released last week showed the US central bank was expecting to reduce its monthly purchases of $120 billion in US Treasury bonds and mortgage-backed securities later this year, according to a report by Reuters.

Back home, a bond trader said the unsuccessful T-bond auction on Tuesday showed that the market was not that keen on the notes on offer while the government was not desperate to borrow at an unreasonably high rate.

Demand for safe assets like government securities has remained strong amid lingering concerns over the coronavirus pandemic, keeping rates low.

As uncertainties persist amid the crisis, financial markets, including the fixed-income market, remain volatile where certain factors could cause rates to spike.

The Treasury is looking to raise P200 billion from the local market this month: P60 billion via weekly offers of Treasury bills and P140 billion from weekly auctions of T-bonds. The BTr is expected to release its borrowing plan for September in the coming days.

The government wants to borrow P3 trillion from domestic and external sources this year to help fund a budget deficit seen to hit 9.3% of gross domestic product. — Beatrice M. Laforga

R. Kelly accuser tells of singer’s violence, control

August 25, 2021 | 12:02 am

NEW YORK — A former girlfriend of R. Kelly on Monday told jurors at his sex abuse trial that she suffered through a five-year relationship with the R&B singer marked by frequent violence and control of her every move. Testifying for the prosecution, the woman known as Jane Doe No. 5 in Kelly’s indictment said the singer regularly checked her cellphone to make sure she did not gossip to friends about their relationship, which began in 2015 when she was 17. She also said Kelly “chastised” her for disobedience, including by spanking her hard enough to leave bruises and tear her skin. “I would get chastised nearly every two or three days,” the woman said in Brooklyn federal court. Now 23, Doe said Kelly also ordered her in 2017 to have an abortion she did not want after he had impregnated her. Doe’s testimony for the prosecution comes on the fourth day of Kelly’s trial. The 54-year-old singer has pleaded not guilty to a nine-count racketeering indictment describing his alleged abuse of six women and girls, including the late singer Aaliyah. Kelly’s trial is expected to last several weeks, and he could face life in prison if convicted. — Reuters

Bogo-Medellin Milling swings to P13-M profit

August 25, 2021 | 12:01 am

BOGO-Medellin Milling Co., Inc. posted a net income of P12.78 million for the third quarter of its fiscal year that will end in September on the back of higher sales.

The listed sugar milling company turned profitable during the April-to-June period and reversed its P17.74-million net loss incurred a year ago.

“The significant increase in net income for this quarter compared to same period last year is mainly due to higher sugar sale,” Bogo-Medellin said in the regulatory filing.

Total sales during the quarter rose 20.9% to P55.29 million from P45.73 million in the same period last year.

Of the total sales for the period, P42.66 million came from raw sugar while P12.64 million came from molasses.

The company’s cost of sales for the quarter fell 33.4% to P39.86 million against P59.88 million the year earlier.

For the nine months of its fiscal year, Bogo-Medellin recorded a P15.9-million net loss, an improvement over the P86.06-million net loss it suffered a year ago.

Bogo-Medellin’s total sales for the nine-month period reached P187.67 million, 27.5% higher than the P147.14 million it posted in 2020.

Raw sugar sales contributed P161.53 million to the total, while molasses sales shared P26.14 million.

The company posted a 16.3% decline in its cost of sales to P180.30 million compared with P215.52 million a year ago.

“To the company’s knowledge, there are no trends, demands, commitments, events or uncertainties that will have a material impact on the company’s liquidity. The company’s operations are funded internally, particularly from sale of sugar and molasses,” Bogo-Medellin said.

Bogo-Medellin has business interests in the milling and manufacturing of centrifugal raw sugar, with molasses as the by-product.

According to the website of the Philippine Stock Exchange, shares of Bogo-Medellin were last traded on Aug. 18 when it closed at P68.10 per share. — Revin Mikhael D. Ochave

Arts & Culture (08/25/21)

August 25, 2021 | 12:01 am

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Nat’l Library calls for story entries

AS PART of the celebration of the 31^st Library and Information Services Month, the National Library of the Philippines (NLP) is accepting entries for the publication Impact Stories of Libraries in the Philippines Book III until Sept. 30. The objective for this third volume is to capture activities and services of libraries in the Philippines, be it a school, academic, special, or public library that adhere to the sustainable development goals (SDGs) established in the United Nation 2030 Agenda. Interested applicants may submit personal accounts or a write up about an activity their library has implemented in relation to the SDGs. Submit the story to http://bit.ly/ImpactStoriesIII. For reference, view Impact Stories vol. 2 at http://bit.ly/ImpactStoriesVolume2. For inquiries and clarifications, contact Chad Aren E. Diaz through e-mail at caediaz@nlp.gov.ph or visit www.nlp.gov.ph.

CCP presents Buwan ng Wika shows

IN CELEBRATION of Buwan ng Wika, the Cultural Center of the Philippines (CCP) presents AWIT AT TULA: Pagbabalik-Tanaw sa Unang Hari ng Balagtasan at the Facebook page of the CCP Office of the President (www.facebook.com/watch/live/?v=163695115876901&ref=watch_permalink). Then relive the music of the 1970s in the concert MANILA SOUNDS, Saliw sa Himig ng Maynila, featuring the Philippine Philharmonic Orchestra on Aug. 28, 6 p.m. More Buwan ng Wika programs can be found at the CCP’s Vimeo channel, https://vimeo.com/showcase/8759371.

NCCA holds Filipino culture webinar

REGISTRATION for the second leg of the webinar “Mga Durungawan sa Kulturang Filipino” (Windows to Filipino Culture) by the National Commission for Culture and the Arts (NCCA), in cooperation with Cultural Center of the Philippines (CCP), is now open. With the theme, “Culture-based Education: Enriching Instruction, Enabling Integration, and Enhancing Contextualization,” the webinar series will be held online from September to November. The three-session webinar will cover a range of topics that would enhance competency in creating a culture-based instructional plan under the new normal scheme. The event also aims to provide a platform for interested in-service and pre-service teachers, educators, and other interested participants nationwide to share further cultural practices, ideas, and resources about responses to school closures and other challenges stemming from the coronavirus disease 2019 (COVID-19) pandemic. To register, visit https://bit.ly/durungawan2021 For inquiries, contact Mark Baoanan, Project Coordinator, through durungawanwebinar@gmail.com. For more information, visit https://www.facebook.com/MgaDurungawanSaKulturangFilipino/.

New online platform for selling art

THERE is a new digital platform for the sale of collectibles and art, VNT Vention, created by cryptocurrency trader Julius Santillan. The website allows anyone to create, buy, sell, or collect digital merchandize — Non-Fungible Tokens (NFTs), which are used to represent items like photos, videos, audio, and other types of digital files — with minimal platform fees. It claims to connect artists to art collectors, while ensuring “a solid and supportive atmosphere.” “This online marketplace’s objective is to urge Pinoy artists to use the blockchain technology in selling masterpieces to fans and collectors alike. By tokenizing works and selling them on a digital marketplace, they can maximize their reach for potential customers,” it said in a statement. For more information, visit the VNT Vention site at https://vention.app/.

Tagum honors creative writers

“IN RECOGNITION of the literary arts’ unique contribution in achieving the full potential of this city’s creative economy by 2025,” creative writers convened in the first-ever Tagum Creative Writers Summit on Aug. 20 at the Tagumpay Theater of the Tagum City Historical and Cultural Center (TCHCC). The summit featured Mindanao writers including Tagum’s Reymond Pepito, who talked about “Celebrating Tagum and the Need to Write About It,” Palanca Award winner and playwright Karlo Antonio Galay David, who talked about the “Mindanao Narrative through Plays,” and poet Nassefh Macla who gave a talk, “Poetry and Beyond: A Memory Project.” The summit kicked off the months-long activity of the Center which will culminate with fringeTGM in November, a community arts and festival featuring various artistic groups of the city. TCHCC management also unveiled the activities lined up for the culmination of the activity in November. These include the Sayaw Tagum Dance Conference, the staging of the play Killing the Issue, an art and design conference, and a performance art and literary concert.

Library holds book, photo exhibit on PHL script

THE FILIPINAS Heritage Library, which turned 25 this month, has launched a book and photo exhibit called “Philippine Script” which looks into the evolution of the national language, and writing systems and their survival as well as the revival of old native scripts. “Philippine Script” is on view online until Aug. 27 at instagram.com/filipinasheritagelibrary.

Videos support Silverlens exhibits

SILVERLENS gallery has a number of videos featuring artists talking about their process and exhibits, and a writer discussing her encounter with an artist. Artist Gary-Ross Pastrana discusses his works in the exhibit “Things that came to light.” Marga Ortigas talks about the “otherworldly” experience of interviewing artist Chati Coronel whose has her exhibit, “Celestial Data for Daydreaming.” There is also a video of Ms. Coronel herself, answering questions about her process, her love for cosmology, and how a painting could incite hope. The exhibition videos can be viewed until Aug. 28 at www.silverlensgalleries.com.

Online art therapy offered

THE J. AMADO Araneta Foundation (JAAF), the social development arm of the Araneta Group, is conducting a series of online art therapy sessions to select youth participants and medical frontliners in response to ill effects of the pandemic. Titled “I am Visible”: Mental Wellness Through Art Therapy, the project — which was organized via a grant from the National Commission for Culture and the Arts — started with its first online session via Zoom on Aug. 7. More online art therapy sessions will be held on Sept. 11 and 18. “I am Visible” aims to acknowledge the mental health crisis happening in the country today which is being exacerbated by the ongoing pandemic. JAAF has partnered with the Makati Medical Center Foundation for “I am Visible,” with the latter providing facilitators and identified doctor-participants. Joining the Program as art coaches are veteran artists Rene Canlas and Julius Legaspi, who will introduce the medium of drawing and painting: pencil, pastel, watercolor, and acrylic paints. The program will end with an online exhibit to be launched on Oct. 10, which is designated as World Mental Health Day. It will be curated by art teacher Jonah Mari Valenzuela. The virtual exhibit will be hosted on the website of Araneta City’s art museum, the Gateway Gallery. It will open with a Curator’s Talk to be livestreamed on the JAAF and Gateway Gallery Facebook pages. The exhibit will be up until Jan. 10, 2022.

State-run bank’s online payment facility sees surge in transactions

August 25, 2021 | 12:01 am

THE LAND BANK of the Philippines (LANDBANK) saw the number of transactions coursed through its online payment platform more than double in the seven months to July from the year-ago level as the lender recorded a surge in online banking.

The state-run bank said in a press release on Tuesday that it processed P1.307 trillion worth of transactions across all its electronic banking (e-banking) channels as of end-July, up by 65% from the same period last year. Total transactions also grew by 12% to 73.5 million year on year.

Broken down, e-payments through its Link.BizPortal reported the highest increase after doubling to 2.3 million transactions during the same seven-month period.

The combined value of e-payments also grew by 103% from a year ago to P5.57 billion under the website-based online platform that covers more than 800 partner merchants.

Meanwhile, the bank’s Electronic Modified Disbursement System, which is used by National Government agencies with its partners, recorded 1.1 million transactions worth P925.28 billion, which were 36% and 74% higher than their year-ago levels.

Usage of its mobile banking application also improved as total transactions jumped by 48% to 55.72 million, with their total value rising by 136% year on year to P89.9 billion as of July.

The lender’s weAccess for its corporate clients also saw higher transactions at 11.3 million, up 31% year on year, with total amount processed reaching P277.43 million, up 22%.

Its iAccess digital banking services for its retail clients recorded 3.1 million transactions in those seven months worth P8.86 billion, bigger by 49% from a year ago.

The bank’s digital portal in opening new accounts were also able to process 1.67 million new deposit accounts as of June 30.

“LANDBANK continues to answer the call for accessible, reliable, and safe electronic banking in the new normal, driven by the varied needs of customers due in large part to the pandemic,”said Cecilia C. Borromeo, the bank’s president and chief executive officer, in a statement.

“We are committed to collaborating with more government partners to make financial services much more accessible, towards promoting Ease of Doing Business and advancing greater digital financial inclusion in the country,” she added.

The bank waived fees for interbank fund transfers via InstaPay and PESONet for retail clients until Sept. 30. It saw its net earnings climb by 1.67% to P5.48 billion in the first quarter. — Beatrice M. Laforga

Innovations that improve and extend lives

August 25, 2021 | 12:01 am

Pfizer vaccine — PHILIPPINE STAR/ MICHAEL VARCAS

Aside from the nine coronavirus disease 2019 (COVID-19) vaccines that have already secured Emergency Use Authorization (EUA) from the Philippine Food and Drug Administration, there are more than 200 active projects aimed at finding a viable vaccine to combat the SARS-CoV-2 virus which causes COVID-19.

The long track record of developing solutions to combat a range of infectious diseases — including viruses with epidemic potential such as those responsible for MERS (Middle East respiratory syndrome), SARS (severe acute respiratory syndrome), and Ebola — has allowed the biopharmaceutical industry to be ready to fast-track research and development (R&D) for a COVID-19 vaccine.

Since the development of the first modern vaccine in the late 1700s, vaccines have earned their reputation of being one of the safest, most effective, and cost-effective medical technologies ever developed.

It is estimated that immunization prevents two million to three million deaths each year in all age groups, according to the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA).

Thanks to previous investigative efforts, such as the elaboration of the germ theory — the identification of organisms that cause a disease — and improvements in cell culture technologies, scientists have developed vaccines against infectious diseases including smallpox, diphtheria, tetanus, anthrax, cholera, plague, typhoid, tuberculosis (TB), polio, measles, mumps, rubella, hepatitis A and B, chicken pox, pneumonia and, influenza, with many more in the pipeline.

Between 2000 and 2017, immunization campaigns cut the number of deaths caused by measles by an estimated 80%, saving more than 21 million lives, over that period globally. Future vaccine R&D investment strategies will focus on data and technology-led advancements to better understanding of immune responses and pathogen interactions.

Vaccines also serve as a frontline defense against antimicrobial resistance (AMR). Vaccines prevent infection, and hence reduce the need to use (and misuse) antibiotics, thus serving as a critical complementary tool to mitigate the risks of AMR. They also hold up broader gains in education and economic development.

Vaccines are one of the most important inventions in global public health and the biopharmaceutical industry will continue to prioritize tackling public health challenges at scale.

Beyond vaccines, R&D is also being carried out to find therapies for other infectious and non-infectious diseases. Hepatitis, for example, has accompanied humanity throughout centuries.

Once the viruses were identified, this finding contributed to a revolution in medicine that led to the development of a vaccine for hepatitis A and B, which has dramatically reduced the mortality of the virus. Despite these advances, the hepatitis C virus (HCV), which causes both acute and chronic infection, is the leading cause of liver cancer and the main reason for liver transplantation.

An estimated 71 million people have chronic HCV infection contributing to around 400,000 deaths each year. Step by step, scientists have improved HCV treatments to a nearly 100% success rate from 6% cure rates in 1991.

Today, the drugs used against HCV are the first that can completely cure a chronic viral illness, allowing millions of people to regain their health and live full and productive lives. This success was possible thanks to the improved understanding of the HCV molecular structure, together with sufficient investment and aligned global cooperation.

Direct-acting antivirals debuted in 2011 and were combined with other therapies, leading to a 12-week-long treatment course that cures without debilitating side effects.

Much progress has also been made when it comes to treating the human immunodeficiency virus (HIV), which causes acquired immunodeficiency syndrome (AIDS).

A major medical breakthrough in the fight against HIV/AIDS was the development of antiretroviral (ARV) therapy. With time, researchers discovered that combination therapy approaches — which work by combining drugs in different sequences — were far more effective than any single drug treatment, making these combinations the default treatment regimen.

ARV therapies also eliminate the risk of transmission from an infected mother to her child throughout pregnancy, birth and breastfeeding. With the help of major medical discoveries, the research-based biopharmaceutical industry has developed more than 222 antiretroviral Drugs for Global HIV/AIDS Relief that are essential to controlling the epidemic and extending the lives of millions.

R&D is also focusing on a vaccine against HIV, which would be a valuable complement to other preventive interventions, significantly contributing to the interruption of the chain of transmission of HIV.

Teodoro B. Padilla is the executive director of the Pharmaceutical and Healthcare Association of the Philippines (PHAP), which represents the biopharmaceutical medicines and vaccines industry in the country. Its members are at the forefront of research and development efforts for COVID-19 and other diseases that affect Filipinos.