Members of the Pakistan Pharmaceutical Manufacturers’ Association (PPMA) have expressed interest in setting up drug manufacturing operations in the Philippines.
The Philippines, which has been cited as an attractive market for pharmaceuticals, strengthened its potential hub for manufacturing with the creation of First Bulacan Business Park (FBBP), apharmaceutical park.
Tereso Panga, deputy director-general of the Philippine Economic Zone Authority, said PPMA delegates were recently briefed on FBBP located in Malolos, Bulacan which was declared a mixed-use ecozone last January. It is envisioned to host medical research and development, manufacturers of innovative, over-the-counter and generic drug products, medical instruments/equipment, and pharmaceutical cold chain.
According to Panga, PPMA has 700 member -companies of which 400 are exporters including the 25 licensed international subsidiaries of well-known and worldwide based pharmaceutical corporations.
Its total exports in 2019 stood at $ 218 million.
FBBP is adjacent First Bulacan Industrial City (FBIC) dubbed as the “Pharma City of the North” and home to 16 pharma-related operations of such as Lloyd Laboratories, Pascual Laboratories, Lumar Pharmaceutical, Cargill Philippines, and Cosmetique Asia. – Irma Isip
