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Food and Drug Administration satellite office at Ali Mall in Quezon City on July 6, 2023

Food and Drug Administration satellite office at Ali Mall in Quezon City on July 6, 2023. ABS-CBN News

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Nicole Agcaoili

ABS-CBN News

<div><span dir="ltr" id="isPasted"></span></div><p>MANILA – The Philippine Economic Zone Authority (PEZA) and the Food and Drug Administration (FDA) on Wednesday inked a registration agreement for Victoria Industrial Park and memorandum of agreement (MOA) for new policies for the development of pharmaceutical zones in the country. </p><p>These two events, according to PEZA&#x27;s Director General Tereso Panga, are aimed at creating pharmaceutical zones, and ensuring accessible, affordable, and quality medicine for Filipinos. </p><p>“Surely with these two monster events today, we can contribute some more to bringing in more pharma-related investments and ultimately contribute to the president’s goal of making vibrant our pharma sector, so we could bring down the cost of medicine for everyone,” said Panga. </p><div><a class="fr-green fr-strong" href="https://news.abs-cbn.com/business/01/23/24/peza-partners-with-sumitomo-bank-rcbc-to-attract-investors">PEZA partners with Japanese bank SMBC, RCBC in bid to attract more foreign investors</a></div><p>“These agreements align with President Marcos Jr.’s directive to reduce the cost of medicine by fostering an environment where pharmaceutical companies can manufacture and supply the domestic market efficiently,” he added. </p><p>Panga said prior to the formal establishment of the Philippines’ first pharmaceutical zone, several “new and big” global companies have already expressed their interest in setting up facilities within the PEZA zones. </p><p>“Kaneko recently in Osaka where we got them to invest in the Philippines and this time Takeda which will put up a plasma extraction facility for the manufacture of drugs for rare auto-immune diseases and immunodeficient patients,” he said. </p><p>“We have engaged as well in the Pakistani Pharmaceutical Industry Association which paved the way for Royal Life Pharma to set up the first ever drug manufacturing facility in the PEZA ecozone with its production of (intravenous) solution and injections,” he added. </p><p>Just recently, Panga said EMTS Group will soon register in PEZA a medical equipment calibration facility in the country. </p><p>In Taiwan, Panga shared they were able to attract one of the biggest manufacturing supplies of hospital beds in the United States. </p><div><a class="fr-green fr-strong" href="https://news.abs-cbn.com/business/2024/3/21/peza-approves-almost-p15-billion-in-invetsments-from-january-to-march-1236">PEZA approves almost P15 billion in investments from January to March</a></div><p>“In the realm of the pharmaceutical supply chain, the pandemic exposed our vulnerabilities and over reliance on other countries. The eco pharma zone models aim to address these problems by attracting foreign direct investments to manufacturing and other support activities,” he said. </p><p>Meanwhile, the new partnership between PEZA and FDA is an upgrade of the decade-old agreement. </p><p>FDA Director General Samuel Zacate said among the changes are the prolongation of the validity of license to operate and certificate of product registration. </p><p>“[A]s of now, we did some innovative policies, especially for the prolongation of the validity of license to operate. Before it was 2-3 years initial, 5 years renewal. That’s been submitted to the Department of Health for the signature of Sec. Ted Herbosa. Initial is 6 years and 12 years for renewal. On top of that, also the certificate of product registration except for the monitored release, will be increased to 6 years initial and 12 years renewal,” said Zacate. </p><p>This will ease doing business and streamline some processes which can boost local production and research to the pharmaceutical and medical sector. </p><p>Zacate said the Victoria Industrial Park in Tarlac which serves as a special pharmaceutical economic zone, has already undergone phase 1 of development.</p><p> “It has undergone Phase 1 and I’m looking forward to having funds for the Phase 2,” he said.</p><div><br/></div><div><br/></div>

<p>The Philippine Economic Zone Authority (PEZA) and the Food and Drug Administration (FDA) on Wednesday inked a registration agreement for Victoria Industrial Park and memorandum of agreement (MOA) for new policies for the development of pharmaceutical zones in the country. </p>

The Philippine Economic Zone Authority (PEZA) and the Food and Drug Administration (FDA) on Wednesday inked a registration agreement for Victoria Industrial Park and memorandum of agreement (MOA) for new policies for the development of pharmaceutical zones in the country.

PEZA, FDA ink two agreements for pharma, medical sector

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PEZA, FDA ink two agreements for pharma, medical sector

Nicole Agcaoili,

ABS-CBN News

Published Jul 31, 2024 08:45 PM PHT

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Philippine Economic Zone Authority

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