Manila: The Department of Trade and Industry, through the Philippine Economic Zone Authority (PEZA), has partnered with AstraZeneca Pharmaceuticals (Phils.) to establish the country's first pharmaceutical innovation hub. This flagship project aims to enhance healthcare innovation while expanding access to affordable medicines across the nation.
According to Philippines News Agency, DTI Secretary Cristina Roque, who also chairs the PEZA Board, attended the signing of the memorandum of understanding (MOU) on Tuesday. The MOU was signed by PEZA Director General Tereso Panga and AstraZeneca Philippines country president Lotis Ramin. The agreement outlines that AstraZeneca's innovation hub will function as a regional center focusing on digital health technology, research and development collaboration, and patient-centered healthcare solutions.
The initial venture of this hub will be an Oncology Innovation Center, modeled after AstraZeneca's similar setup in the United Kingdom. This center will employ artificial intelligence for early cancer detection, enhance patient-support systems, build healthcare workforce capacity, and promote evidence-based policy development.
The MOU also outlines initiatives where AstraZeneca will aid the Philippines' investment promotion efforts by conducting business forums, investment briefings, business-to-business match-making sessions, and hosting international delegations. These efforts aim to attract both local and foreign healthcare-related investments. In return, PEZA will assist AstraZeneca in identifying strategic ecozone locations for its projects, guide them through regulatory processes, and connect the company with support industries and potential joint venture partners.
DTI Secretary Roque emphasized that this initiative highlights the DTI's commitment to integrating trade, industry, and healthcare for the benefit of the Filipino people. 'The pharma innovation hub demonstrates the potential when global expertise meets local commitment. This partnership with AstraZeneca and PEZA is a significant step towards President Ferdinand R. Marcos Jr.'s vision of making medicines more affordable and accessible, and establishing the Philippines as a hub for research, digital health, and medical investments,' Roque stated.
PEZA Director General Panga mentioned that the hub is part of the agency's broader plan to develop more medical-centered ecozones. 'We aim to attract more companies involved in development, manufacturing, and research in the medical field to create a value chain that will reduce the cost of medicines for Filipinos,' Panga remarked. 'This initiative aligns with the President's call, which we have embraced wholeheartedly. Establishing the first pharma ecozone was a milestone, and this collaboration with AstraZeneca marks another significant achievement towards realizing our shared goals.'
The pharmaceutical sector in the Philippines is experiencing rapid growth, with over 14 multinational companies and more than 50 manufacturers and medical device firms, including Terumo Philippines, Merck Business Solutions, JMS Healthcare, and Royale Life Pharma, operating within PEZA zones nationwide.
