Indian pharmaceutical company Aurobindo Pharma Ltd. plans to establish a manufacturing facility in the Philippines for generic pharmaceuticals and active pharmaceutical ingredients (APIs), according to the Philippine Economic Zone Authority (PEZA).
PEZA Director General Tereso Panga met with Aurobindo’s executives on September 26 to discuss the investment, following a previous meeting in India in July 2024 organized with HSBC to attract pharma sector investors.
Aurobindo, which operates in over 155 countries and ranks among the top 10 generic pharma companies globally, aims to address local and regional demand while reducing the Philippines’ reliance on imported medicines.
The collaboration between PEZA and the Food and Drug Administration (FDA) aims to streamline investment processes in the pharmaceutical sector, including the issuance of FDA-related permits and the establishment of a satellite laboratory.
Currently, PEZA has 27 registered companies in the pharmaceutical and medical device manufacturing sector.
Source: PhilNews24 | September 30, 2024
