WHAT'S NEXT FOR THE PHILIPPINES?
The entire pharmaceutical industry in the Philippines is now waiting to see how the market will further evolve. The MDRP transformed
the competitive dynamics, and further changes will soon follow as the new government seeks to achieve universal healthcare.
But one thing is sure—the potential of the market. In a country of 95 million people, wherein only 30% of the population can
currently afford medicines, the opportunities for future growth are significant.
Novartis is already taking advantage of this potential. The company has placed its South East Asian headquarters in the Philippines,
and believes the region can be a strong epicenter for conducting research and development. "We have made significant investments
in R&D over the last six months focusing on key therapeutic areas, as we see a huge potential in research. We would like to
conduct trials in the Philippines for some of our future key products, especially vaccines," explains Eric Van Oppens, country
president of Novartis Healthcare Philippines and South East Asia cluster head for Philippines, Singapore, Indonesia, Pakistan,
Eric Van Oppens, South East Asia Cluster Head, Country President, Novartis Healthcare Philippines
We will soon see if other companies will follow Novartis' example, and if the Philippines will play a more central role in
South East Asia. It is well-positioned to do so, with a large population, widespread use of English, and a favorable investment
climate. It is clear that this formerly quiet, emerging market, has finally started to raise a clamor.
This sponsored supplement was produced by Focus Reports.
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