AstraZeneca to build pharma innovation hub in Philippines

MANILA, Philippines — AstraZeneca Pharmaceuticals (Phils.) Inc. is planning to invest over P7 billion for various initiatives including putting up the country’s first pharma innovation hub to make affordable medicines more accessible to Filipinos.

In a statement, the Department of Trade and Industry (DTI) said a memorandum of understanding (MOU) was signed by AstraZeneca Philippines country president Lotis Ramin with Philippine Economic Zone Authority (PEZA) director general Tereso Panga for the initiative.

Details on the specific investment amount and location for AstraZeneca’s innovation hub were not immediately available yesterday.

Under the MOU, the facility will serve as a regional hub for digital health technology, research and development collaboration, as well as patient-centered health care solutions.

As part of the project, an Oncology Innovation Center will be established and patterned after AstraZeneca’s pharma hub in the United Kingdom.

The Oncology Innnovation Center will use artificial intelligence for early cancer detection, as well as to expand patient-support systems, build healthcare workforce capacity and promote the development of policies.

As part of the MOU, AstraZeneca will support the Philippines’ investment promotion efforts like business forums, investment briefings, business-to-business match-making sessions, as well as international delegations to encourage both local and foreign healthcare-related investments.

PEZA, meanwhile, will help AstraZeneca identify strategic ecozone locations for its projects, assist with regulatory processes, as well as link the firm with support industries and potential joint venture partners.

Trade Secretary Cristina Roque, who also serves as PEZA Board chair, said the project is in line with the DTI’s commitment to connect trade, industry and health care to provide direct benefits to Filipinos.

“The Pharma Innovation Hub shows what we can achieve when global expertise meets local commitment. This partnership with AstraZeneca and PEZA is a big step toward President Marcos’ goal of making medicines more affordable and accessible, while also laying the foundation for the Philippines to become a hub for research, digital health and new medical investments,” she said.

Panga said the project supports PEZA’s aim to establish more pharma zones in the country.

“We want to attract more companies that are into development, manufacturing and research in the medical field in order to create a value chain that will lead to the lowering of cost of medicines for Filipinos. This is a call of the President that we have set to heart and embraced to its fruition. We have already established the first pharma ecozone and this with AstraZeneca is another momentous event towards achieving our conjoined objectives,” he said.

According to the DTI, the pharmaceutical sector is one of the fastest-growing industries in the country.

At present, there are over 50 manufacturers and medical device firms operating in PEZA zones nationwide. These include Terumo Philippines, Merck Business Solutions, JMS Healthcare and Royale Life Pharma.