The Philippine Development Plan 2023-2028 has included a program to attract leading multinational companies (MNCs) to invest in the local pharmaceutical sector and help it become self-sufficient.
The Philippine Development Plan 2023-2028 has included a program to attract leading multinational companies to invest in the local pharmaceutical sector and help it become self-sufficient.
The PDP stressed that the HLS cluster plays a “strategic” role in opening income-generating opportunities for the country especially after a health crisis caused the global economic distress. Last November, Philippine Pharmaceutical Manufacturers Association President Higinio P. Porte Jr. said the local pharmaceutical industry is doubling down on making the industry competitive locally. It is also eyeing to increase its supply to the Department of Health .
As for the contents of pharmaceuticals that are being produced locally, he said “the only local [ingredient] used here is sugar, which has been having its own problems in the past few months.”“But the rest of the synthetics are all imported. We don’t have local manufacturing of API.” Andrea San Juan
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