Pharex Health Corp. joins PBL

The Philippine Basketball League (PBL) has approved the entry of Pharex Health Corp., producer of generic drugs, into the league, PBL commissioner Chino Trinidad announced on Friday. "We welcome the entry of Pharex to our family and we thank them for believing in our vision," Trinidad said in a statement. "Just like the other regular team members, Pharex also hopes to contribute in the development of basketball through its participation in the league." Pharex is a subsidiary of Pascual Laboratories, one of the leading Filipino-owned pharmaceutical companies in the Philippines. PBL chairman Gil Angeles of Toyota Balintawak and the rest of the members of the Board are all thrilled with the incoming participation of Pharex in the league. "They are more than very welcome to the PBL," Angeles said. "With its stature in the pharmaceutical industry, its entry is a big boost not only for the league but also for Philippine basketball." Aside from Toyota Balintawak, the other regular members of the league are Hapee Toothpaste of Lamoiyan Corp., Magnolia of San Miguel Corp., Harbour Centre, and Wel-best (makers of Welcoat Paints). Ding Camua, a division manager of Pascual Laboratory, and Beau Agana, president of Pharex, said former Ateneo stalwart Jean Alabanza will be the team manager of the team. This early, the ex-PBL guard is busy scouting for players that will make their maiden stint a memorable one. "We hope to form a team that can give us a credible and competitive chance against the established teams," Agana and Camua said in their letter to Trinidad. Alabanza hinted that they would tap the services of a top UAAP slotman and a Cebuano hotshot in the hope of creating a big impact right in their maiden campaign. "I'm still negotiating with some other players. We hope we could lure some of the top players in the UAAP and NCAA. But we're focusing more on players who share our own vision," Alabanza said. "We're also looking for young defensive minded and team oriented players." The team is also keeping mum on the identity of its head coach at the moment but will make the announcement soon at the start of tryouts for the team. PBL executive director Butch Maniego also disclosed that at least two more companies are knocking at the PBL's door, both hoping to participate in the coming tournament slated to open in late October. "It only shows that the league is healthy and stable," Angeles said. - GMANews.TV