NextGen Day

Due to a worldwide shortage of vaccinations against coronavirus disease 2019 (Covid-19), Department of Trade and Industry (DTI) Secretary Ramon Lopez has encouraged vaccine makers to expand manufacturing in the Philippines.

“What the vaccine technology owners need to do is really multiply their manufacturing capacity because if they just rely on their existing capacity, the global supply versus global demand is really insufficient,” Lopez said in a television interview on Wednesday, speaking in a mix of English and Filipino.

According to him, the Corporate Recovery and Tax Advantages for Enterprises (CREATE) legislation provides incentives for this kind of investment.

With adequate cold storage facilities and vaccine distribution, Lopez said that the nation is also capable of managing Covid-19 vaccines.

He said that eight pharmaceutical companies had shown interest in establishing operations in the nation.

According to Lopez, two of these pharmaceutical businesses are already in advanced discussions with their technology partners about building fill and finish facilities in the nation.

These companies would import vaccinations in bulk and repackage them in vials in their Philippine facilities, he added.

He went on to say, “These will be approved vaccinations with emergency use authorization (EUA) here.”

Vaccine producers will not be restricted to manufacturing Covid-19 vaccinations, according to the trade head, but will also be able to cover conventional vaccines, such as those used in the standard immunization program.

He went on to say that in addition to meeting local demand, they would be able to export their vaccinations.

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This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

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