NATIONAL
Advocates Philippines
PBBM Proposes Pharma-Zones To Lower Medicine Prices And Streamline Regulatory Processes
Photo credit: PCO
In a recent sectoral meeting at Malacañang, President Ferdinand R. Marcos Jr. directed health officials to explore the establishment of pharmaceutical economic zones, also known as "pharma-zones," to bring down the prices of medicines and enhance regulatory efficiency. The President emphasized the need to develop and manufacture common generic drugs, following the successful model implemented in India.
President Marcos expressed his desire for pharma-zones to replicate India's success in significantly reducing drug prices and even exporting pharmaceutical products. He stated, "We want to be in the same place so that the cost of medicines is a little too high, it’s not a little too high, it’s too high. Kailangan natin maibaba ang presyo to true generic."
To achieve this goal, the President urged the government to attract both foreign and local investors to the Philippine pharmaceutical sector by creating pharma-zones. These zones would offer incentives, similar to the economic zones monitored by the Philippine Economic Zone Authority (PEZA), to reduce manufacturing costs.
President Marcos emphasized the importance of providing an equal playing field for both local and foreign investors, stating, "We give everyone a chance to do that. To do whatever they want. But now, it’s not really regulated."
Pharma-zones would consolidate companies involved in all aspects of drug manufacturing, including research and development, clinical testing, trials, and regulation. This approach aims to streamline the drug approval process and increase local drug production.
The sectoral briefing, attended by key officials such as Executive Secretary Lucas Bersamin, Health Secretary Teodoro Herbosa, and Budget Secretary Amenah Pangandaman, discussed strategies to encourage investment in the pharmaceutical sector.
In a subsequent press briefing, Director General Samuel Zacate of the Food and Drugs Administration (FDA) highlighted the potential impact of pharma-zones on local drug production, particularly in areas identified by PEZA. Zacate stated, "It will give more influx of essential and generic drugs," emphasizing the positive outcomes for essential medicines, generic drugs, and approved antibiotics.
President Marcos had previously directed the FDA to simplify the drug application process through a one-stop shop scheme, aiming to make it more accessible and efficient. This initiative aims to encourage both local and foreign pharmaceutical firms to participate in drug manufacturing, ultimately making medicines more affordable for the public.
President Marcos expressed his desire for pharma-zones to replicate India's success in significantly reducing drug prices and even exporting pharmaceutical products. He stated, "We want to be in the same place so that the cost of medicines is a little too high, it’s not a little too high, it’s too high. Kailangan natin maibaba ang presyo to true generic."
To achieve this goal, the President urged the government to attract both foreign and local investors to the Philippine pharmaceutical sector by creating pharma-zones. These zones would offer incentives, similar to the economic zones monitored by the Philippine Economic Zone Authority (PEZA), to reduce manufacturing costs.
President Marcos emphasized the importance of providing an equal playing field for both local and foreign investors, stating, "We give everyone a chance to do that. To do whatever they want. But now, it’s not really regulated."
Pharma-zones would consolidate companies involved in all aspects of drug manufacturing, including research and development, clinical testing, trials, and regulation. This approach aims to streamline the drug approval process and increase local drug production.
The sectoral briefing, attended by key officials such as Executive Secretary Lucas Bersamin, Health Secretary Teodoro Herbosa, and Budget Secretary Amenah Pangandaman, discussed strategies to encourage investment in the pharmaceutical sector.
In a subsequent press briefing, Director General Samuel Zacate of the Food and Drugs Administration (FDA) highlighted the potential impact of pharma-zones on local drug production, particularly in areas identified by PEZA. Zacate stated, "It will give more influx of essential and generic drugs," emphasizing the positive outcomes for essential medicines, generic drugs, and approved antibiotics.
President Marcos had previously directed the FDA to simplify the drug application process through a one-stop shop scheme, aiming to make it more accessible and efficient. This initiative aims to encourage both local and foreign pharmaceutical firms to participate in drug manufacturing, ultimately making medicines more affordable for the public.
Feb 13, 2024
