Philippines, US companies ink deals to build 1st cancer hospital
MANILA, Philippines, Nov 16, (AP): Filipino companies have achieved groundbreaking agreements with American firms, poised to enhance healthcare services in the Philippines and establish the nation as a prominent player in the global pharmaceutical sector.
During the Asia Pacific Economic Cooperation Summit in California, Philippine President Ferdinand Marcos Jr witnessed the signing of a significant partnership between AC Health and Varian Medical Systems. The collaboration aims to construct the Philippines’ first dedicated oncology hospital, named Healthway Cancer Care Hospital. This facility, along with a network of oncology clinics across Metro Manila, will utilize Varian’s cutting-edge multi-modality cancer care technology.
“The initiative is a vital stride in the fight against cancer, and it reflects the Philippines’ growing potential as a leading healthcare destination in Asia,” remarked Marcos during the signing ceremony.
In another noteworthy development, Filipino firm Lloyd Laboratories and US-based DifGen Pharmaceutic have joined forces in a joint venture to enhance local medicine production in the Philippines. Lloyd Laboratories will invest up to $20 million to establish the first US Food and Drug Administration-approved manufacturing facility in the country.
This joint venture extends beyond manufacturing, encompassing collaboration on the filing of Abbreviated New Drug Application (ANDA) and the joint marketing of developed pharmaceutical products within the United States. Marcos praised this venture as a significant stride towards expanding local production and fostering a robust Philippine pharmaceutical industry.
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