WITH the near implementation of the cheaper medicines law, local pharmaceutical companies are now gearing up for expansion projects to make sure they will be able to meet the expected surge in demand in the market.

Marilou Buensuceso, president of the Philippine Chamber of Pharmaceutical Industry, said at least 30 Filipino drug-makers have secured their Good Manufacturing Practices (GMP) certification from the Bureau of Food and Drugs (BFAD), which means they have invested to make their facilities compliant to established standards.

“It shows that they are committed to expand. Other companies are still in the process of securing the BFAD seal,” Buensuceso told the BusinessMirror.

The GMP certification, which follows the harmonized Asean (Association of Southeast Asian Nations) standards, is proof that a local manufacturer is capable of producing safe and efficacious drugs just like the innovator brands.

There are 57 Filipino-owned drug manufacturers in the country, including United Laboraties, Pharex, Gx International and Natrapharm, which are among the fastest-growing national companies because of their branded generic medicines.

Buensuceso said there are no actual numbers yet on the size of the existing investments of Philippine pharmaceutical firms and how much capital they will be putting in for further expansion.

A small pharmaceutical plant, however, costs about P100 million, she said.

Currently, the Philippine drug market is about P107 billion annually and is poised to grow by 8 percent this year.

The share of local firms in this, however, is only about 30 percent.

But when it comes to the number of medicines sold by units, Buensuceso said the share of local firms is much higher because they sell the cheaper varieties.

She said the competitive landscape in the country, especially with the government providing the policy support for cheaper medicines to be accessible to the public, is changing in favor of the local drug manufacturers and the consumers.

“The market will continue expanding because those people who could not buy the full dosage of medicines because of the high cost will now afford it,” she said.

The Intellectual Property Office of the Philippines and other concerned agencies are now finalizing the implementing rules and regulations of the cheaper medicines law and will have it ready for publication by the end of October.

Joey Ochave, vice president for business development of Unilab, said the P1.5-billion facility of its new generic unit Amherst will be operational by the middle of next year.

Ochave said the new plant in Laguna will increase the company’s capacity for its non-penicillin-based liquid drugs and vitamins by 50 percent.

Buensuceso said in terms of unit sales, the market is expected to grow by 10 percent to 12 percent.

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