DTI, AstraZeneca launch pharma hub to boost healthcare innovation

The Department of Trade and Industry (DTI) has partnered with AstraZeneca Pharmaceuticals to establish the country's first pharma innovation hub, marking a significant step toward President Ferdinand R. Marcos Jr.'s goal of making medicines more affordable and accessible.

This flagship project aims to boost healthcare innovation and expand access to affordable medicines in the Philippines, aligning with the government’s vision for the country as a hub for research, digital health, and new medical investments.

On August 19, PEZA Director General Tereso Panga and AstraZeneca Philippines Country President Lotis Ramin signed a memorandum of understanding, enhancing investment promotion initiatives in healthcare-related sectors.

The partnership includes facilitating business forums, briefings, matchmaking sessions, and international delegations to attract both local and foreign investors, positioning the Philippines as an ASEAN hub for health-related production, distribution, and research collaboration.

PEZA will assist AstraZeneca in identifying strategic ecozone locations and connecting the company with support industries and potential joint venture partners, aiming for a P7-billion investment over the next three years.