Indian pharmaceutical giant Aurobindo Pharma Limited expressed strong interest in establishing a manufacturing facility in the Philippines, following a meeting with the Philippine Economic Zone Authority (PEZA) on Sept. 26, 2024.
PEZA, in collaboration with the Food and Drug Administration (FDA), is enhancing its one-stop-shop services to attract pharmaceutical investments.
“Prompt issuance of FDA permits and the planned satellite laboratory demonstrate our commitment to growing the pharmaceutical sector,” said PEZA director-general Tereso Panga.
Aurobindo’s visit to the Philippines followed a July 2024 meeting with PEZA in India, organized with HSBC to attract pharmaceutical investors.
The company aims to manufacture locally to meet regional demand and reduce the Philippines’ reliance on imported medicine.
PEZA has 27 registered pharmaceutical and medical device manufacturers. With the development of a 30-hectare industrial hub in Victoria, the agency anticipates significant growth in the sector.
The initiative aims to position the Philippines as a key player in the pharmaceutical industry.
PEZA credited the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) for its guidance and support in establishing pharma ecozones and attracting investors.
“Our focus is on developing the local supply chain and attracting pharmaceutical FDI to make medicines more affordable in the Philippines,” Panga said.
