PEZA, FDA introduce pharma-medical device ecozones initiative

The Philippine Economic Zone Authority (PEZA) has partnered with the Food and Drug Administration (FDA) for the introduction of pharmaceutical and medical device (pharma-dev) ecozones in a bid to boost the medical manufacturing sector in the country.

In a news release on Thursday, PEZA said the so-called pharma-dev ecozones is outlined in the Ecozone Transformation Roadmap of the 2023-2028 Philippine Development Plan.

The investment promotion agency said the pharma-dev ecozones will serve specialized hubs for local and foreign companies involved in medical and drug manufacturing, including research and development (R&D) and clinical testing and trials.

PEZA said the ecozones are seen to boost local supply as well as provide opportunities for Filipino small, medium enterprises (SMEs) to engage in the manufacturing and tolling of drugs, food supplements, and other medical products.

Integration into these ecozones and global value chains, PEZA said, will further support the capacity and competitiveness of Filipino businesses.

PEZA Director General Tereso Pangan earlier said that the creation of pharma-dev ecozones could increase medical and drug manufacturing-related investments in the country.

Meanwhile, PEZA said the collaboration with the FDA would ensure that products manufactured within the pharma-dev ecozones meet rigorous quality and regulatory standards.

This should likewise address the development and manufacture of common generic drugs that will boost local supply and bring down the prices of medicines, the agency said. — VDV, GMA Integrated News