THE Department of Trade and Industry (DTI) said it tapped AstraZeneca Pharmaceuticals to help build the Philippines’ first pharma innovation hub.
The hub stems from a memorandum of understanding (MoU) signed by the Philippine Economic Zone Authority (PEZA) and AstraZeneca Philippines on Tuesday.
“Under the agreement, AstraZeneca’s Innovation Hub will serve as a regional center for digital health technology, research and development collaboration, and patient-centered healthcare solutions,” the DTI said in a statement.
Initially, the hub will feature an Oncology Innovation Center, which is modeled after the company’s pharma hub in the UK.
It will use artificial intelligence for early cancer detection, expand patient-support systems, build healthcare workforce capacity, and promote evidence-based policy development.
It is part of the over P7-billion investment the company has earmarked for the Philippines in the next two years.
“The MoU also includes initiatives where AstraZeneca will support the Philippines’ investment promotion drive by holding business forums, investment briefings, business-to-business matchmaking sessions, and international delegations to attract local and foreign healthcare-related investments,” the DTI said.
“In turn, PEZA will help AstraZeneca identify strategic ecozone locations for its projects, assist with regulatory processes, and connect the company with support industries and potential joint venture partners,” it added.
Trade Secretary Ma. Cristina A. Roque said the partnership “is a big step toward President Ferdinand R. Marcos, Jr.’s 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.”
PEZA Director General Tereso O. Panga said that the partnership builds on its goal of establishing more medical-centered economic zones.
“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 the cost of medicine,” Mr. Panga said.
“This is a call of the President that we have taken to heart and embraced. We have already established the first pharma ecozone, and this with AstraZeneca is another momentous event towards achieving our objectives,” he added.
According to the DTI, the pharmaceutical industry is among the country’s fastest-growing industries, with over 50 manufacturers and medical device firms currently operating in ecozones.
According to AstraZeneca Asia Area Vice-President Sylvia Varela, the company’s P7-billion investment in the Philippines will include the multi-stakeholder health innovation hub. — Justine Irish D. Tabile
