THE PHILIPPINE Economic Zone Authority (PEZA) said Philippine drug company Unilab, Inc. has expressed interest to invest in economic zone (ecozone) development.
In a statement at the weekend, the agency said it met with Unilab officials on Dec.11 to explore ecozone investment opportunities.
“The meeting is in line with PEZA’s thrust to increase pharma and medical-related investments in the country, aligned with President Ferdinand R. Marcos, Jr.’s call to localize and bring down the cost of medicines for Filipinos,” PEZA said.
It said that its partnership with the Food and Drug Administration (FDA) for an exclusive green lane arrangement for PEZA locators undergoing FDA-related processes would benefit drug companies like Unilab.
“This partnership goes hand in hand with PEZA’s one-stop-shop facility that allows pharma companies like Unilab to benefit not just from the fiscal incentives offered by the government but also in enhanced ease of doing business within the PEZA zones,” it added.
Earlier this year, PEZA and FDA revisited their decade-old deal after Mr. Marcos sent out an order to set up pharmaceutical ecozones to lower the cost of drugs and medical devices.
Unilab makes consumer healthcare products such as prescription and over-the-counter medicines, vitamins and food supplements, and biotechnology.
Unilab has other registered ecozone projects with PEZA including the Philippine Packing Agricultural Export Processing Zone in Cagayan de Oro, which hosts the operations of unit Del Monte Foods. — Justine Irish D. Tabile
