Gov’t eyes global firms for local manufacturing of medicines
The government now wants to invite multinational companies for the local manufacturing of pharmaceutical products such as medicines, which are considered as heavily imported consumer products.
Trade and Industry Secretary Ramon M. Lopez said, which was cited in a Manila Bulletin report, that pharmaceutical industry is one of the industries that can be transformed from being import-dependent.
“There are those products or brands we believe can be manufactured here,” Lopez said.
According to him, talks are now on-going with some companies to pave the way for the local production of medicines instead of importing them.
“We are more aggressive in attracting these companies now,” he added.
As of now, the Department of Trade and Industry (DTI) is still trying to identify other products that the country can start producing locally.