PH invites Chinese vaccine manufacturers to collaborate with local pharmaceutical companies.
Ceferino Rodolfo, Undersecretary of the Department of Trade and Industry (DTI), is asking Chinese vaccine makers to cooperate with local pharmaceutical businesses to establish facilities in the Philippines.
Rodolfo urged Chinese vaccine manufacturers to seize the opportunity in the Philippines, where the government received support from the Asian Development Bank (ADB) to be self-reliant in terms of the coronavirus disease 2019 (Covid-19) vaccine, during the virtual Philippines-China (Fujian) Economic and Trade Promotion Conference on November 7.
“The Asian Development Bank is aiding us in developing a vaccine self-reliance program, particularly in vaccine manufacturing.” “We’re contacting Chinese vaccine originator businesses to see if they’re interested in partnering with Philippine pharma companies, even if it’s only to provide a fill-and-finish facility at first,” he said.
The government also provides tax breaks to vaccine makers that set up shop in the country, as the country seeks to develop a local supply of Covid-19 vaccines rather than relying on the uncertain global market.
According to government data, only 26.7 percent of the population has been fully vaccinated and 31.5 percent has received their first dosage, indicating that vaccine producers still have a lot of room to grow.
Sinovac and Sinopharm are two Chinese makers of the Covid-19 vaccination.
In February, Sinovac’s CoronaVac vaccines were the first Covid-19 vaccine brand to emerge in the Philippines.
Apart from vaccine manufacturing, Rodolfo believes there is another potential in the health industry for Chinese companies as the government works to improve the healthcare system.
“The government’s initiative to update more health care facilities to fulfill the predicted demand from 2025 to 2040 is expected to boost growth in the sector of medical devices in the Philippines,” he added.